Navigating the world of remortgages? At Red Rose Financial Services Ltd, our dedication extends beyond offering just initial mortgage solutions. With over 15 years of industry experience, our team excels in offering advice on remortgage deals to help you make well-informed decisions.
Written by:
Nagina Haroon CeMAP
Director
Last Updated:
04.12.2023
Written by:
Nagina Haroon CeMAP
Managing Director
Last Updated:
04.12.2023
Remortgaging refers to switching your existing mortgage to a different deal with your current lender or a new one. This usually happens to take advantage of a lower interest rate or to release equity from your home.
There could be various reasons to consider a remortgage:
If your current mortgage rate is ending, remortgaging can ensure you aren't moved to a higher standard variable rate.
Switching can save you money on monthly repayments by availing a cheaper interest rate.
Remortgaging can help you release funds from your property's equity, for other significant expenses or investments.
If you want to overpay but your current mortgage doesn't allow it, switching can be beneficial.
If your home's value has increased significantly, you might find better remortgage deals.
Remortgaging to an offset mortgage can help you utilize your savings to reduce interest costs.
Remortgaging might involve certain fees:
Ensure to compare the potential savings with these costs to determine if remortgaging is cost-effective.
Acquiring the best remortgage deal requires a strategic approach:
A high credit score will make you appealing to lenders.
Always be on the lookout for the most competitive rates to save on repayments.
A lower LTV, meaning a larger proportion of your home you own outright, can fetch you a better deal.
Comparisons shouldn't be based solely on interest rates. Factor in all associated fees.
To start your remortgage process:
About Red Rose Financial Services Ltd:
Established in 2023, the ethos of Red Rose Financial Services Ltd is shaped by our heritage of over 15 years in scouring the market for optimal mortgage solutions. Despite the ever-changing landscape of the housing market, our unwavering passion, fortified by cutting-edge technology, drives us to discover premier property finance packages.
Our dedication extends to transparent dealings, straightforward processes, and an unparalleled commitment to customer service. This excellence in service delivery has garnered us stellar reviews and a loyal clientele, many of whom are now an integral part of our community.
Our offerings are comprehensive, ranging from remortgages to Equity Release, Bridge Financing, and Commercial Mortgages. Furthermore, through our esteemed partners, we also facilitate services like Pensions, Wills and Trusts, Solicitors, and more.
Our dynamic association with mortgage lenders and loan providers means that we’re always updated with real-time rates, ensuring that our clients always get the best available deals. Serving nationally, we invite you to learn more about how we can assist your financial journey. Visit our homepage or call our dedicated team at 0333 090 9467.
Wondering how much your monthly mortgage payments will be? Get an instant estimate online. Don’t stress about budgeting for your dream home.
Director
Qualified Solicitor
A Remortgage is when you switch your existing mortgage to a new one, either with your current lender or a different one. You should consider remortgaging when your current deal is about to expire, when you want to take advantage of lower interest rates, or when you need to release equity from your property for home improvements or other financial needs.
A Remortgage can save you money by securing a lower interest rate, potentially reducing your monthly payments. It can also allow you to consolidate debts, release equity for investments, or switch to a more suitable mortgage product that better aligns with your financial goals.
The process typically involves evaluating your current mortgage terms, assessing your financial situation, researching new mortgage deals, and applying for the new mortgage. Our mortgage advisor will guide you through each step, ensuring a smooth transition to your remortgage.
Yes, you can remortgage even if your financial circumstances have changed. Lenders will assess your current financial situation, including your credit score, income, and expenses, to determine eligibility and offer suitable deals. Our advisor will help you find lenders who are more likely to approve your application based on your new circumstances.
The suitability of a Remortgage depends on your specific financial goals and circumstances. Our experienced mortgage advisor will conduct a thorough review of your current mortgage terms and your objectives. We will then provide personalized recommendations to help you make an informed decision about whether to remortgage.
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Ready to dive into the world of mortgage comparison and secure the best mortgage? Speak to a mortgage advisor today and let’s embark on this journey together.
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Red Rose Financial Services Limited is an appointed representative of Beneficial Ltd, which is authorised and regulated by the Financial Conduct Authority, FCA number 736655.
Red Rose Financial Services Limited is authorised and regulated by the Financial Conduct Authority, FCA number 1006655.
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