• COULD YOU SLASH COSTS BY SWITCHING TO A NEW MORTGAGE?

YOU COULD BE MISSING A TRICK BY NOT CONSIDERING NEW, AND BETTER MORTGAGE DEALS

REmortgages – WEST SUSSEX, SURREY & BEYOND

If circumstances have changed since you first took out your mortgage – for example, if you feel you could pay more each month to clear your mortgage more quickly or would benefit from lower monthly payments to allow for a better standard of living, remortgaging or seeking a new mortgage with a different provider could be the ideal solution.

We advise you on the eligibility criteria and finer details of the many remortgage options available and help you secure the best deal possible.

Current mortgage deal about to end?

Want a better rate, with lower repayments?

Has your home’s value risen significantly?

Worried about interest rates rising?

Want to overpay but your current provider won’t allow you?

Looking to switch from interest-only to a repayment mortgage?

Want to borrow more, to allow for further home improvements?

Looking to consolidate more expensive short term debts within your mortgage payments?

We are a team of independent mortgage advisers who offer remortgage advice to clients across West Sussex, Surrey and beyond, and are always happy to discuss whether remortgaging is the best option for you and, if so, how to proceed with your application.

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Remortgaging can transform your finances and free up money for other uses. You shop around for the best phone contracts and energy suppliers – why wouldn’t you treat your mortgage with the same scrutiny?

WHEN MIGHT REMORTGAGING BE A GOOD IDEA?

  • You’re coming to the end of your initial period, or introductory rate, and you’re about to be moved on to your lender’s standard variable rate
  • A new mortgage rate will almost always be lower than a lenders standard variable rate
  • You need a lump sum to pay of other debts, such as credit cards, or to make home improvements
  • Your property value (LTV) has increased – a higher LTV generally comes with a lower mortgage interest rate, meaning lower monthly repayments
  • Remortgaging on a low rate can be cheaper than taking out a loan elsewhere, or getting another credit card
  • You’ve come into unexpected money and want to pay off your mortgage quicker

ARE THERE ANY FACTORS TO BE AWARE OF WITH REMORTGAGING?

  • Remortgaging fees can be quite high due to early repayment charges to get you out of your contract with your existing mortgage provider – generally, you can still save money by remortgaging, but once your loan falls below a certain point it may not be worth doing
  • You may incur new valuation fees, legal costs and other charges – although these tend to be less than the money you will save
  • If your home’s value has dropped and you are in negative equity it’s better to wait until its value rises again
  • It can seem a hassle to remortgage – but we will take care of as much as possible for you so you can just enjoy the benefits!

Prepare your finances for the chance to find the best new mortgage deal possible

HERE’S WHAT WE’LL DO:

  • Work with you to understand your mortgage needs and why you are considering remortgaging
  • Research the whole of the mortgage market to find the right lender for you
  • Discuss your current income and expenditure, and ensure that you meet all qualifying criteria for the mortgage deal you are seeking
  • Make your mortgage application as strong as possible
  • Protect your credit rating as much as possible during the application process
  • Manage the mortgage application process on your behalf to ensure speed and efficiency

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    The guidance and/or advice contained within this website is subject to the UK regulatory regime, and are therefore targeted at consumers based in the UK. Maplewood Mortgages is a trading style of Global Financial Ltd; a member of Best Practice IFA Group Ltd which is authorised and regulated by the Financial Conduct Authority. Details can be found at www.fsa.gov.uk under reference number 506634. Global Financial Ltd is registered in England, no. 00922704.

    The Financial Ombudsman Service (FOS) is available to handle individual complaints that financial services businesses and their clients are unable to resolve. To contact FOS please visit us at www.financial-ombudsman.org.uk