Are you looking to remortgage your property?

If your current mortgage deal has ended or you are looking to fund some home improvements, then you will be looking to remortgage your property.

Remortgages

Remortgaging is the name given to replacing your current home loan with a new mortgage – a move you should never be afraid to make if doing so makes financial sense.

For most homeowners, remortgaging is an opportunity to save money on monthly mortgage repayments. With interest rates at an historic low, the chances of getting a better rate than your previous mortgage deal are very high, so whether if you are coming out of a two, three, four or five-year deal, a better one almost certainly awaits you. Remortgaging can also move you from an interest-only mortgage to a repayment mortgage.

In the months before you are due to remortgage you should begin shopping around to see what deals there are on the market. Medical professionals can access preferential rate through medical mortgage advisers, so it’s worth getting in touch with one as soon as you begin your search. If you leave it too late, you risk being transferred onto your lender’s standard variable rate which could be considerable higher than the rate you are currently on.

On occasions, it pays to leave a mortgage deal and begin a new one if (when your factor in the cost of any departure fees) the savings you can make outweigh the penalties of an early exit. Remortgaging needed be stressful – it is something you should always consider doing on a regular basis to make sure that you continually get the best mortgage rates available to you.

For some medical professionals, remortgaging allows the release of equity to pay for home improvements or pay off existing debt.

Talk to a medical mortgage adviser before remortgaging your home.

Our experienced advisors are only a phone call away. Give us a call on 01656 332 600.

For out of hours or weekends, email us at info@doctorsmortgagesonline.co.uk

Boost your chances of getting a mortgage - Guide

Boost your chances of getting a mortgage with our FREE guide.

Did you know there are simple things you can do to increase your chances of getting the mortgage you want? Our free guide tells you all you need to know to get started.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE.