Remortgaging and Moving Home
There are a number of reasons you may want to remortgage your home: perhaps you’re looking for more flexibility in your repayments, you want to shorten your mortgage term, or you’re hoping for a more favourable interest rate.
Whatever your motivation, Bluechip Financial are here to help you understand if remortgaging is the right choice for you. We’ll guide you through the pros and cons and make sure you’re clear on all the options available to you, so you can have peace of mind that you’re making the right financial decision for you and your family.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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What is remortgaging?
Remortgaging is when you take out a new mortgage to pay off an older one, using the same property as security. You can either take out a new deal with your existing lender or switch to another.
Why remortgage your property?
Remortgaging can help you get a better deal on your mortgage long term. For example, it could get you a better interest rate, reduce your monthly repayments, or let you pay your mortgage off more quickly. It can also be used to secure a new rate when your current one is coming to an end, or to change your current mortgage’s terms.
Another reason is to have access to more funds. Depending on how long you’ve been in your existing home, your equity stake could have risen. You may be able to borrow more if you want to release capital for home improvements, purchase a new property, or consolidate debt.
Finally, many people choose to remortgage so they can add or remove someone from their current mortgage plan.
No matter your reason for remortgaging, we’ll take the time to understand your circumstances and recommend the best deal for you.
Why should you use a broker for remortgaging?
There are a lot of variables you need to consider before remortgaging. Speaking to a professional will ensure you’re aware of every factor in the process, including benefits, risks, and timescale.
At Bluechip Financial, our panel of mortgage specialists will provide you with valuable advice tailored to your situation. We will analyse your circumstances and identify the best course of action for you to take, helping you decide whether remortgaging is right for you.
If you decide to go ahead, we will search across the market to find the very best deal for you. We have close relationships with top lenders and will take care of all the paperwork, making the process as simple and stress-free as possible.
If you wish, we can also review your protection cover – for your home, your possessions, your life, and your income – to ensure you’ve got the right insurance policy for any eventuality.