Remortgage Advice in Canterbury

There are many reasons as to why a homeowner may want to take out a remortgage on their home, from releasing any equity that is sitting in their home as a way of funding potential home improvements, to consolidating any debts that they have.

Oftentimes, however, the reasoning is much more simple, with many homeowners remortgaging to gain a better rate of interest.

We would advise homeowners to start looking at remortgaging their home around 6 months prior to their mortgage deal coming to its end. In doing so, you’ll hopefully have enough time to enquire for remortgage advice in Canterbury and find a new mortgage in advance of that mortgage deal ending.

You may potentially have the option of remortgaging in Canterbury in order to pay off any unsecured debts that you have in your name.

If there is not enough equity sitting within your home, whilst debt consolidation itself may not be a viable option, you could remortgage for a better rate, hopefully reducing your monthly outgoings on that front and giving you more income to put towards paying off those debts a little quicker.

We would always highly suggest that you speak with a specialist mortgage advisor for remortgage advice in Canterbury prior to securing any debts against your home, as whilst your monthly outgoings may be less, you will be paying back more interest overall.

You should think carefully before securing other debts against your home. By adding your unsecured debts to your mortgage, which is secured on your home, you are potentially putting your home at risk if you cannot make the required repayments.

Although the total monthly cost of servicing your debt may have reduced, the total cost of repayment may still have risen as the term of your mortgage is longer than it may have taken to repay the debts originally.

Yes, may have the option of remortgaging a buy to let property in your portfolio if you are a buy to let landlord. We find regularly that landlords will want to take out a remortgage in Canterbury, as a means of funding potential home improvements or to put down a deposit on a new property in their portfolio.

To understand further about how a mortgage broker in Canterbury like ourselves can help landlords to remortgage their portfolio properties, please see our buy to let remortgage page.

Many homeowners in England and Wales will be looking to take out a remortgage in Canterbury a good few times throughout their life, as there is generally no limit regarding the amount of times that you are able to remortgage in Canterbury.

You must always remember though that if you are still currently fixed into a deal with your current lender, you may have to factor in the likely chance that you are going to have to pay an early repayment charge to get out of your fixed deal.

A mortgage broker in Canterbury will be able to help you compare the various mortgage deals available to you, reviewing whether or not you would be better off staying on the lenders standard variable rate, as opposed to remortgaging for a better rate of interest.

We have been providing high levels of mortgage advice for over 20 years. During that time, whether they have been residential or buy to let, we have helped 1000s of customers to remortgage their homes in Canterbury.