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When it comes to remortgaging we have the tools to make it happen in line with your expectations and our having a few years on the clock can help a lot. We have built relationships with lenders to bring you remortgage deals from some high street banks and building societies through to specialist mortgage lenders for those who may have more complex scenarios. In the modern online world we believe you should still be able to pick up the phone and talk to your adviser from day one if you want to - or you can use our >>
With a fixed rate mortgage you will be able to budget your monthly payments as for the initial period of the new mortgage your interest rate will not change, most remortgage deals offer an initial fixed rate usually between 1 and 5 years. The disadvantage of a fixed rate mortgage deal is that if interest rates go down your mortgage rate will not change, at the end of the initial period of the fixed period the mortgage rate may well increase, many people switch mortgages near to or at the end of the initial mortgage period.How to find some of the best remortgage plans
Video transcript
Remortgaging your home can save you lots of money and give you plenty of peace of mind too, so if you`re looking for a new deal, you`ll want the best remortgage that`s available to you.When you`re a homeowner, you`ll need to remortgage once your existing deal runs out – even if its with the same lender! Otherwise you`ll end up on your existing lenders` standard rate, which is generally more expensive than many of the deals you could get if you look at the alternatives.
You don`t have to wait until your current deal expires to look around, as you can search for the best remortgage at any point with First Choice Finance, the key is to be ready in advance of your current deal ending and talking to our advisers will put you in pole position.
When remortgaging, aim to end up with a deal that has a lower interest rate, so that your monthly repayments are lower.
You may choose a fixed-rate remortgage too if you are worried about rates going up, with the Bank of England base rate having sat at the record low of 0.5 per cent since 2009.
Don’t worry, First Choice give advice and recommend a mortgage that meets your needs through asking some very relevant questions.
Best Fixed Remortgages mean that your repayments will stay at the same level for the duration of the deal, so you can plan your outgoings with the peace of mind that comes from knowing that the amount you pay on your mortgage won`t go up for a few years.
Although best variable rate remortgages may be cheaper and ease your cashflow for now, if you don’t mind the risk of payments going up or down.
You can use the money gained from a remortgage improve your cashflow and enable you to reorganise your finances and pay off other loans, including car finance and credit cards without having to borrow more.
Alternatively a debt consolidation remortgage may give you the chance to raise some additional funds to clear other credit and make a fresh start. Bear in mind you may pay back more interest if you choose this route.
Let First Choice Finance find the best remortgage for you get in touch online at firstchoicefinance.co.uk or call us for free from a landline on 0800 298 3000 or call our mobile friendly number 0333 003 1505.
