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Let us help you to keep on top of the bewildering array of mortgage options with our free re-mortgage finder service
Simply enter details of your existing mortgage into our Remortgage Finder & will email you within 2 months of the expiry of your current fixed /discounted rate scheme with a new deal that will be at an interest rate below the new package offered by your present lender.
We should be able to make the re-mortgage a cost free process by getting the new lender to pay for any necessary admin fees.
In today's competitive market, many freelancers 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 highly 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.
The type of mortgage which is most appropriate for you will depend on your own individual circumstances. Simply complete our remortgage finder and one of our expert freelancer mortgage advisers will get back to you with the best options currently available.
Financial advice on these pages is being given by our IFA broker ContractorFinancials Ltd whose services are regulated and authorised by the Financial Services Authority
Your home may be repossessed if you do not keep up repayments on your mortgage
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