Popular Reasons to Remortgage in Cardiff
Remortgage to Find a Better Deal
We tend to find that homeowners will look to take out a Remortgage because once your deal ends, you will be automatically placed onto the Standard Variable Rate of your mortgage lender, which isn’t always the best of outcomes for homeowners.
The main reason why it’s sometimes best to avoid this route is that the interest rate for an SVR can sometimes be a lot more than your initial fixed period. This means your monthly mortgage repayments will likely go up. Thus, taking out Remortgage Advice in Cardiff is a regular choice that homeowners make, months before their term ends.
Remortgage to Fund Home Improvements
Our Mortgage Advisors in Cardiff will do everything to support a wide assortment of different mortgage customers when it comes to equity release as a means of funding any potential home improvements.
This is the go-to choice for homeowners who are looking to get started on any home improvements they have been planning for, such as a new extension to the home, and a newly renovated kitchen.
If you look into the various ways that you could release a large amount of equity to fund any new home improvements, we have a large variety of different mortgage lenders who may want to see quotations of how much the work is expected to cost.
Remortgage to Consolidate Debts
Other homeowners may look to use their mortgage to consolidate any unsecured debts they have, to allow them to combine all their current outgoings into one strong monthly payment that will be consistent throughout their term.
It is essential to remember though that this type of route will extend your debt over the course of your mortgage term and by the time it finishes, you’ll have paid back more overall.
We would highly suggest that you speak with an expert Mortgage Broker in Cardiff before securing any of your debts against your home.
You should think carefully before securing other debts against your home. By adding your unsecured debts to your mortgage, which is secured on your home, you are potentially putting your home at risk if you cannot make the required repayments.
Although the total monthly cost of servicing your debt may have reduced, the total cost of repayment may still have risen as the term of your mortgage is longer than it may have taken to repay the debts originally.
Remortgage to Remove a Name
If you are the co-owner of a property and are thinking to take someone’s name off your mortgage, this may be achievable by taking out a Remortgage in Cardiff.
If you are much better staying with your current lender, you’ll find that the mortgage process won’t change too much. Ether way the lender will need to have faith that you have good credit and are reliable in your monthly mortgage repayments without anyone as a backup.
For more information on anything, we have mentioned here regarding Remortgages. Please feel free to take a look at our handy guides in our Remortgage section or speak with one of our expert Mortgage Advisors in Cardiff.
Why Choose us for your Remortgage in Cardiff
Free Remortgage Review
Our hardworking team of Mortgage Advisors in Cardiff will offer their full support throughout the entire process. We off a free initial Remortgage review to everyone who gets in touch, so please don’t hesitate.
The team are available all throughout the working week and even on weekends, from early on in the day until later on at night, with bookable appointments that can fit your busy lifestyle.
If you are wanting to know your choices for remortgaging to release equity or looking to find a better deal, our team of Mortgage Advisors in Cardiff will be on hand to take a look at your options with you.
We can search 1000’s of remortgage deals including specialist mortgage products to determine which mortgage option would be most suitable for your personal and financial circumstances.
We provide a high-end service to all customers, including providing open and honest Mortgage Advice in Cardiff. We love doing what we do, trying our best so customers can achieve their property-owning goals.
To book a free Remortgage appointment, please contact us today or book yourself via our online form. Our delegated Mortgage Advisors in Cardiff are readily available to answer all your mortgage questions and get your Remortgage journey started.