About Remortgages
A remortgage is the process of taking out a new mortgage on a property you already own. Our Cardiff Mortgage Adviser, there are many reasons why people re-mortgage their property including:
Home Improvements
Loft Conversions, House extensions, new kitchens, are all reasons why some people choose to release equity in their home.
Buy Another Property
Some people remortgage their homes to raise a deposit in order to buy another house, this can often be done to help their children get on the property ladder or for investment purposes to purchase Buy to Let property.
Debt Consolidation
Loans, credit cards, school fees are all financial commitments where sometimes funds can be raised to pay of specific debts.
Holiday, Wedding, New Car
Are also some of the reasons why a you might wish to remortgage and release money from your home.
New Product
Sometimes, circumstances change, and you may want to vary the term of your mortgage. Some homeowners may want to pay off their mortgage quicker, for example if they want to retire earlier. Others may wish to extend the term of their mortgage.
Change Your Mortgage Term
Many of the best deals offered by lenders only last a short time (2 – 5 years). When your current deal comes to an end, you will usually revert to the lenders Standard Variable Rate (SVR), which is often higher than the product you started with.
For friendly and straightforward advice contact Premier Financial Solutions: 02920 099 150
Your home may be repossessed if you do not keep up with repayments on your mortgage.
Think very carefully before securing debts against your home. Your mortgage is secured on your home. If you do not make your mortgage payments, you could lose your home.