Remortgaging

All of our partner advisers have access to the whole market so that you get the best deal available.

Getting the best rate

The remortgage rates on offer right now are some of the lowest the market has ever seen, although it’s important that you check the small print of any deals that you see advertised, as they can often include a nasty surprise in the form of application and arrangement fees. It’s also vital that you look at the entire cost of your remortgage, rather than just being drawn in by the flashing lights of the headline offer.

Your circumstances

The particulars of your own financial situation will have a large bearing on your application to remortgage, as the criteria that must be met can vary a lot from lender to lender. Some mortgage companies will only base their decision on your main income, whilst other more flexible lenders will take other earnings, share dividends and self employed income into account.

Your credit score will also affect the deals that are open to you, as new responsible lending guidelines since the Credit Crunch mean that if your score isn’t great, it can really limit your chances with mainstream lenders. However, it doesn’t mean that you can remortgage. It just means you have to apply to a lender who caters for people with poor credit.

As we said before however, the more equity you have in your property, the less of a problem that this will be, as long as you can prove affordability.

Remortgaging can be used to pay off debts, provide funds for home improvement or anything else you see fit to spend it on. Before you jump into anything, we would always suggest doing your homework and really exploring the market to see what deals are out there.