Rosewood Financial Advisers
Looking To Remortgage Your Property?
The process of remortgaging allows you to switch provider or mortgage product to save money and to suit your changing circumstances.
It makes sense to look for a new mortgage deal if your current mortgage is about to end. Before you remortgage or decide to remortgage with your existing provider, it is a good idea to speak with an independent mortgage expert.
Take advantage of new mortgage rates
Many homeowners remortgage to take advantage of new rates and more cost-effective products. Alternatively, some people choose to remortgage to free up cash for home improvements or life’s significant milestones such as weddings or university fees.
Remortgaging provides the opportunity to switch to a different mortgage provider or product; in many circumstances, this can save money or free up cash for large purchases.
If you have been with the same mortgage lender for some time, you may be able to save money on your home loan.
Remortgaging is much simpler than buying a new home because the deeds of the property are already in your name.
How we can help you
At Rosewood Wealth, we believe in providing all of our clients a truly individualised financial advice service. We are here to help find the best solution when you are looking to remortgage.
Three to six months before your current mortgage deal is set to expire, contact us to discuss your remortgage options. This will allow enough time to complete your remortgage application and be ready to switch to a new deal when your existing mortgage ends. If you leave it too late, your lender may automatically move you to a standard variable rate (SVR), which could be more expensive.
WHY SHOULD I REMORTGAGE
Your current deal is about to end
Often the best mortgage deals tend to last a short lifespan. With new products continually introduced to the market, it’s a good idea to review your mortgage when your existing fixed-rate deal is due to end.
You want a better rate
Remortgaging may be the answer if you want to reduce the amount of interest you’re paying on your loan. Early repayment charges may apply, and in some cases, these charges can be significant. It’s worth doing some sums to be sure a remortgage will improve your finances.
Your home has increased in value
If your property has increased in value since you took out your mortgage, remortgaging may reduce the amount of interest you pay or you may be able to get a better deal.
You are concerned that interest rates will increase
If the Bank of England base rate is predicted to rise, you may decide to remortgage your property to a fixed rate mortgage deal.
You want to make overpayments
Most mortgage products allow customers to overpay their mortgage balance by a percentage each year. However, some lenders penalise homeowners by charging early repayment fees. If you want to overpay your mortgage, but your lender won’t let you, remortgaging could be a smart move.
Frequently Asked Questions
What is re-mortgaging?
This is the term given to the process of switching over to a new mortgage deal – either with the same or a different lender. The most common time to re-mortgage is when the fixed or introductory tracker or discounted rate on your mortgage ends.
Why should I re-mortgage?
Often the purpose of switching from one lender to another is to secure a more favourable interest rate. The process of re-mortgaging does not usually involve moving house it is in effect the transfer of a mortgage from one lender to another.
Do you need to get your house valued for a re-mortgage?
If you decide to re-mortgage, you’ll need to know the value of your home. From this, you can work out the equity you have in your property.
Hear what a few of our highly satisfied clients have to say
Shannan has provided us comprehensive advice and direction in a straight forward and pro-active manner. Shannan has reduced our current mortgage by over 35% and has also secured a approval in principal for a new property. A number of other financial improvements are also underway from credit score improvement to insurance and health care.
Client In Derbyshire
Shannan was fantastic made the process really easy to understand and supported me at every step, without Shannan and her expertise i wouldn’t have known where to start.
Client In Derbyshire
I have continued to use Donna and I continue to be completely happy with the service she provides. My circumstances have changed and Donna has helped me to adjust my finances. She is the advisor that I recommend to family and friends.
Client In Derbyshire
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Rosewood Wealth Management Ltd
Registered in England and Wales Registered Company Number : 08291755. Registered address: 388 Brimington Road, Chesterfield, Derbyshire S41 0TF. Directors: Donna Robertson & Shannan Pool-Gorman
What to do if you have a complaint: If you have a complaint or dispute with us, you are entitled to make a complaint. We have a complaints procedure that is available on request. If you wish to register a complaint, please contact us either in writing, by telephone or email. If you wish to register a complaint, please contact us: In writing: Shannan Pool-Gorman, 388 Brimington Road, Chesterfield, S41 0TF. Email: firstname.lastname@example.org, or by telephone 01246 932300. Please be assured we treat complaints seriously. For your protection, if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (‘FOS’). Please see the following link for further details: http://financial-ombudsman.org.uk/.
A lifetime mortgage is secured against your home and is a complex product. To understand the features and risks, ask for a personalised illustration. Your home or property may be repossessed if you do not keep up the repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage. The value of your investment can go down as well as up and you may not get back the full amount invested. Accessing pension benefits early may impact on levels of retirement income and your entitlement to certain means-tested benefits. Accessing pension benefits is not suitable for everyone. You should seek advice to understand your options at retirement.
© 2019 Rosewood Wealth Management | Rosewood Wealth Management is a trading style of Rosewood Wealth Management Ltd which is Authorised and Regulated by the Financial Conduct Authority – number: 841587. You can check this on the Financial Services Register by visiting the FCA’s website – or by contacting the FCA on 0800 111 6768. The Financial Conduct Authority does not regulate taxation advice, university/school fees planning some aspects of buy to let mortgages. The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK. The FCA’s consumer website address can be found here.