Re-mortgaging is the process of taking out a new mortgage on a property you own. There are lots of reasons to considering doing it:
- Moving to a product that provides a better interest rate to make your mortgage cheaper so you can save money
- Your current mortgage rate may be coming to an end
- The value of your property may have risen (this can put you into a lower loan to value category and could mean you’re eligible for lower rates).
- Option to overpay on your mortgage – helping you to clear your mortgage debt quicker, maybe after inheriting some money
- Moving to a product that provides more flexible terms including the option to take a payment holiday
- Moving to a fixed rate deal that will give you peace of mind over the next few years; or
- Maybe you simply want the ability to borrow money against your property to make home improvements, help a loved one get on the property ladder or maybe to clear other debts
Whatever your reason, our specialist residential conveyancing solicitors here at Richard Reed are here to help.
You can get an immediate no hidden costs online quote here for our competitively priced conveyancing services.