Once your existing mortgage deal comes to an end, you will move onto the lenders Standard Variable Rate (SVR). This could result in an increase in your monthly mortgage payments, because of this its a good idea to look at your remortgage options in advance before the end of your current deal.
There are various reasons why you may want to remortgage. You could just be looking for a better deal than that being offered to you by your current provider, or perhaps your looking to raise money for home improvements or consolidate other debt, remortgaging may be the solution for you.
At Risinghurst Mortgages being able to provide you with whole of market options means we have access to not only competitive but exclusive products to ensure that we can get you the best possible deal for your circumstances.
As part of our great after care service you don't need to worry about your future remortgages ending and risk moving onto a higher Standard Variable rate (SVR). Here at Risinghurst Mortgages we will ensure that we will contact you once your mortgage term is soon to expire.
How long before my current mortgage ends should I wait before contacting Risinhgurst Mortgages?
We recommend getting in touch when you've got 3 months remaining on your current mortgage. This ensures that we can start the process as early as possible to make sure we also have a little extra time to account for any unforeseen delays. With a remortgage we want to ensure that your new deal starts the day after your old deal expiries, This is so that you are not left paying your current lenders Standard Variable Rate (SVR).
We know some initial questions are more common than others so we thought it would be handy to answer some.
Our current mortgage deal is coming to an end, we are thinking of moving but not for the next 12 months or so, what should we do?
You may be thinking of moving home in the not so distant future but perhaps your not ready to make the move yet and your current deal is coming to an end. Having access to the whole of market means we can find you the best product to ensure that should you wish to move, we will make sure your new mortgage had the lowest possible fees if paid off before the end of the term or has a porting option.
Could I make larger / Additional payments on a new mortgage deal?
Yes! different lenders will have different criteria on any penalties or fees applicable with additional / overpayments payments. If you plan on making additional mortgage payments throughout the term speak to one of our team who will ensure that we are able to source you the best possible product for you overpayments with the least possible (if any fees) attached.
Can I borrow additional funds when remortgaging?
Yes! A remortgage can help you with just that. You may have other existing loans that you would like to consolidate into one, or perhaps your looking to carry out some home improvements or book your dream holiday? By refinancing your current deal we can help you do just that by releasing equity in your property.