CAP Business Clubs
  • Home
  • Members
  • Contact
  • Podcasts
  • Books
  • courses
  • Blog

 Blog page 

See our members

Who needs money ? Why remortgage  ?

2/3/2015

0 Comments

 
Picture
Author - Jason Whitehead

Who needs money ? Why remortgage  ?

In today's competitive market, many borrowers choose to switch their mortgage every few years in order to take advantage of the new rates on offer. Those that remain on the same deal for the full term of their loan could lose out on a range of potential benefits, not least the opportunity to reduce the total amount paid back, which could be a significant margin in some cases. 

In simple terms, remortgaging involves switching your current mortgage to a new deal, arranged either with your existing lender or with a new lender. As a current homeowner you may want to consider taking this step for a number of reasons, such as:


To save money If you're paying your lender's Standard Variable Rate (SVR), it's likely that your existing lender will offer a better rate and greater flexibility on other available products. This could allow you to save money on your monthly repayments, or to repay your mortgage sooner. And if your current lender doesn't offer better rates or greater flexibility on its other products, you may want to consider switching your mortgage to another lender, even if doing so would trigger early repayment charges payable to your existing lender, as this could still mean a net saving to you.

To raise money Higher income or a rise in your property's value means you could increase your mortgage to help pay for major outgoings such as a wedding or your child's university costs, rather than borrowing separately, and in some cases more expensively, for the outgoing itself.

To avoid moving home It can be cheaper and more convenient to adapt or add an extension to your existing home, paid for by remortgaging or a further advance, than to move home.

To consolidate your debts Remortgaging can allow you to release some of the equity you hold in your home and consolidate other debts, such as a car loan or credit cards, which can attract higher rates of interest than that of your mortgage.

To Reduce the Term

With each remortgage you can look at reducing the term of the loan bring the mortgage down by years eventually if this is the goal. Why might it not be ? Well you need to speak to me to find out.

Book your free Home Mortgage Review Now  07973 720848 or 01594 719389

0 Comments



Leave a Reply.

    Categories

    All
    Accounting
    Broadband
    Business
    Computing
    Crafts
    Digital
    Education
    Electrical
    Fashion
    Finance
    Food And Drink
    Garden
    Health
    Human Resources
    Insurance
    International
    Jobs
    Legal
    Maintenance
    Marketing
    Mortgages
    Networking
    Other
    Photography
    Sales
    Seo
    Social Media
    Telecoms
    Training

    CAP BUSINESS CLUBS BLOG

    Archives

    December 2018
    November 2018
    July 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    October 2016
    July 2016
    March 2016
    February 2016
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013

    RSS Feed


     Visit us on Facebook - We always appreciate any "Likes"
    Picture

    Contact us
    T: 01594 723120
    M: 07811 981929
    Email: Here


    Office 3
    The Main Place
    Old Station Way
    Coleford, Glos
    GL16 8RH


    Picture
    Home
    Members
    Contact
    Join
    Links
    Testimonials

Office 3, The Main Place
Coleford
Gloucestershire
GL16 8RH
Privacy Policy
Picture
  • Home
  • Members
  • Contact
  • Podcasts
  • Books
  • courses
  • Blog