Remortgage
Welcome to SAM Mortgages, your trusted partner in remortgaging advice throughout the UK.
Whether you’re looking to save money, free up some equity in your property, or simply secure a new deal that better reflects your current circumstances, we aim to provide you with the advice and guidance that you need every step along the way of your remortgage journey.
Your home may be repossessed if you do not keep up with repayments on your mortgage. There may be a fee for mortgage advice. The fee will depend on your circumstances. The fee is up to 1%, but the average fee paid when taking a mortgage is 0.3% of the amount borrowed. You may have to pay an early repayment charge to your current lender if you remortgage.
What is a Remortgage and How Does it Work?
Remortgaging refers to the process of transferring your current mortgage to a new mortgage deal, whether with your existing lender or one from a different lender. Remortgaging may assist with reducing your monthly repayments, gain access to additional funds that may currently be tied up in your property, or simply provide you with terms that suit your current financial objectives.
The process can usually be summarised in four steps:
Assessment – We will look at your current mortgage, income and goals to ensure that remortgaging would be a good conclusion for you.
Market Search – We will compare deals among a large network of lenders to find the most competitive deals for you.
Application – Once you have selected a mortgage deal, we will support you in completing the documentation and conditions required for submission to the lender.
Completion – Your previous mortgage is paid off, your new mortgage commences, and repayments begin based upon the agreed terms.
When Should I Think About Remortgaging My Home?
You may want to think about remortgaging your home in situations such as:
The end of the fixed term
If you are approaching the conclusion of a fixed rate deal, remortgaging may allow you to preserve the interest rate, avoiding returning to your lender paying a much larger standard variable rate.
Declining Interest Rates
If mortgage rates have fallen since you originated your mortgage, consider remortgaging to a more favourable arrangement.
Equity Release
If the value of your property has increased.
Enhanced Finances
An increase in income or credit profile may qualify you for improved mortgage options.
What are the Advantages of Remortgaging?
There are numerous advantages to a remortgage, including:
Lower Monthly Payments – A better interest rate could lower your payments each month.
Long-Term Savings – Even modest reductions in interest rates can result in considerable savings throughout the entire term of your mortgage.
Access to Equity – The worth appraised in your property can be accessed for use in your own personal project, or better yet, good financial planning.
Debt Consolidation – Combine multiple higher-interest debts into your mortgage and eliminate debt with one payment.
Your Remortgage Journey Starts Here
At SAM Mortgages, we view every remortgage as a chance to improve your financial position. Whatever the reason is that you remortgage, to save, invest or to change your payments, our advisers will listen to what you need and will provide clear and tailored advice so that you can make informed decisions. With 20 years of experience in the industry, we know how to make the remortgage experience easier for you, and can guarantee that your agenda is placed first in every situation.
– Call us today on 01604 261685 to start your remortgage journey.
Finding the best remortgage is something you want to plan for carefully. We do this by:
Personalisation – We get to know your situation and your goals before we discuss suitable remortgage options.
Whole-of-Market Search – We research and compare deals from a wider range of lenders to achieve competitive remortgage terms.
Cost Review – We will break down any fees, legal costs, and any costs that might relate to your remortgaging deal so you won’t have a nasty surprise.
Future Proofing – We assist you in selecting a remortgage deal that represents good savings now and suits your medium to long-term goals.
Please call our team for some tailored remortgage advice today.
Frequently Asked Questions
Some frequently asked questions about the service that you may have questions about
Will remortgaging always save me money?
How long does the remortgaging process take?
Can I remortgage if I have bad credit?
What costs are you likely to incur when remortgaging?
How much could you borrow?
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How much do you need?
You can use this mortgage calculator to work out how much you could borrow and how much deposit you need for a mortgage. Please keep in mind that this is simply – whilst reasonably accurate, it is advisable to speak with a trained mortgage advisor to get a better understanding of your mortgage raising capabilities.
