Recent figures from The Mortgage Advice Bureau National Mortgage Index show the value of remortgage lending at its highest level since November 2008. Remortgage applications rose by 7.5% in April compared to March with monthly remortgage lending rising to £6.4 billion in April – a 48% increase from March. So is it about time to look at remortgaging your property?
Reasons to Remortgage
Most people decide to remortgage for one of two reasons: To reduce the cost of their monthly payments by switching to a better deals (normally when coming to the end of a fixed rate period) or to release equity from their home to spend elsewhere.
Whichever category you fall into – it could be a great time to remortgage with historically low interest rates and a good range of deals on the market including many competitive products available for new customers.
When looking at remortgaging it can be tempting to stay with your current loan provider simply because it’s easier, however your are likely to find a better deal by searching the huge selection of mortgages that are available from banks, building societies and smaller lenders.
Why Use Police Mortgages to Remortgage?
We can give you help and support throughout the remortgaging process:
- Honest, impartial advice from our professional mortgage advisers
- We have exclusive deals for the Police Family, that are not available elsewhere
- Let us do the searching for you to find the perfect loan for your circumstances
- Leave us to deal with your mortgage applications – saving you time and stress
Remortgaging is not the right option for everyone, for example those with negative equity, a very small mortgage or already on a good rate. There are also a number of costs to consider including early repayment charges and exit fees. Police Mortgages can assess your current financial situation and help to decide if remortgaging is an option.
To find out if you could save money each month or release equity from your home by remortgaging, speak to Police Mortgages for clear, honest advice. Get in touch for more information about remortgaging or to make an appointment with an adviser.