You can Remortgage for many reasons, such as:
Debt Consolidation
If you feel overstretched by credit card, personal loans, hire purchase or store card payments then consolidating these loans may be an option. If you have equity in your property then Mortgage Sense can help you remortgage to release funds to pay off all your other debts, which will allow you to consolidate them into one easy to manage monthly mortgage payment.
Raise additional funds
With the rise of property prices over the last 5 years it has been estimated that amajority of people have built up a substantial amount or equity in their properties.
Some clients look to remortgage to release some of this equity, as it can be an effective way of raising funds. In most cases the monthly repayments will often be lower than other forms of personal finance, (eg. credit cards and personal loans etc) if taken out over the same term as a mortgage.
You may find that some lenders may place restrictions on what you can do with the funds you raise, but at Mortgage Sense we will help you remortgage to raise cash for almost any purpose. That means that whether you are looking to raise money for home improvements, a wedding, a car, a holiday or even a deposit on a second home abroad, we will help you consider all your options.
Finding a better mortgage deal
A large percentage of homeowners may be paying a higher rate of interest on their mortgage than they need to, as they tend stay with their existing lender on their current standard variable rate. Instead they should look round for a new deal after they have come off the lenders initial discounted or fixed rate deal.
If you’re one of these people Mortgage Sense may be able to offer you a better rate.
This translates into less money going out on your mortgage payments every month and more money for you.
Buying out a partner
If you have taken out a joint mortgage with your partner or even some friends and you decide to go your separate ways, it can be a headache trying to figure out what to do with the property and the mortgage.
At Mortgage Sense we can help you remortgage the property and buy out your partner by releasing their share of the equity, and then transfer the mortgage into your sole name.
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