Remortgage Advice Southampton

There are many benefits to remortgaging. And, there are also many different remortgage options available. Some examples include remortgaging to consolidate debt, fund home improvements, release equity or to simply try and find a better rate.

Despite all of these options, the most popular option is to remortgage to try and find a better interest rate.

Ideally, you should be thinking about your remortgage 6 months prior to your fixed term coming to an end. Sometimes, we have applicants that leave this until 3 months remaining, however, this can make the process seem a little rushed.

Once you get in touch with our team, a mortgage advisor in Southampton will talk you through the rest of the process and how long it should take.

Yes through remortgaging to release equity in your home, you may be able to use the funds to pay off unsecured debt.

If you do not have enough equity in your home to cover the debt, you may still be able to remortgage to find a better rate. This could allow you to save on your monthly repayments, hence allowing some extra money to pay off these debts.

We would also recommend speaking with an expert before actioning your remortgage to consolidate debts. A remortgage advisor in Southampton will be able to explain the process to you and see whether it is the right thing for you to do or not.

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, you are able to remortgage buy to let properties. If your buy to let fixed term mortgage is coming to an end, you will need to remortgage to avoid the lender’s standard variable rate of interest.

To find out more about how our team can help, head to our buy to let remortgage page.

Most homeowners will remortgage a few times in their life, however, there is generally no limit to how many times a person can remortgage.

In some cases, you can remortgage before your fixed term ends, however, you may be faced with an early repayment charge (ERC).

As your mortgage broker in Southampton, we will search through 1000s of remortgage deals in order to try and find you the right one. We will only compare deals that will benefit you and your personal and financial situation.

We have been helping homeowners remortgage for over 20 years now, we know what we are doing when it comes to remortgaging. Our remortgage advisors in Southampton would love to help you next.!