Remortgage Advice

Remortgaging is when you look to move from one mortgage deal to another, either by pursuing an application with your existing lender or moving to a new lender. A mortgage is often the largest and most long-standing financial commitment an individual will be subject to during their lifetime. For that reason, it is important that it is continually monitored and reviewed to ensure that you never pay more than needed and your current needs and circumstances are always being best reflected. 

We understand how important it is to get the right mortgage deal at the right time, but your time is precious, and you might not be able to give up hours to search the market for a new deal. That is where Cherry Tree Financial can assist. With access to thousands of mortgages from over 90 lenders, we can help take the time and stress out of your remortgaging process.

Whilst remortgaging you may have some need to raise some money for some home improvements or to consolidate some debts – we can advise on the best options available for these scenarios as part of the process.

Is your lender giving you the best product for your circumstances? Staying with a lender for life will not necessarily result in you getting better rates, so it is important to continue to shop around to make sure you are not paying more than you need to. We can aid that search on your behalf and if it is better to stay where you are we will tell you that too. If at the end of your mortgage product you do not re-mortgage you will go onto the lenders Standard Variable Rate (SVR), this can result in much higher interest rates and therefore higher monthly payments, so ahead of that change taking place is deemed the most preferential time to check what else is could be available.

The mortgage product that you are on will usually only last 2, 3, 5, or even 10 years. If, for example, you are on a 2 year product then after 2 years you will be able to change your mortgage to another lender in order to get the best available rate, without risk of financial penalty. You may also wish to re-mortgage in order to assist with your financial situation such as to debt consolidation or to borrow additional funds.

There are various reasons why you might choose to remortgage, including the following:

  • Your current tied in period is due for renewal
  • Take advantage of lower interest rates
  • You want to move to a more flexible mortgage in order to allow for overpayments or offset facilities
  • You want to borrow more money
  • You want to secure a fixed product to avoid fluctuations in payments

To find out more about how we can help you with your remortgage requirements please contact us to arrange an initial discussion.

Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Please note that some mortgages such as BTLs are not regulated by the FCA.