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Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.
Remortgages
If your current mortgage deal is coming to an end, or if you’ve been with your existing lender for a while, this could be a very good time to think about switching your mortgage deal. At the same time you could increase the amount you’re borrowing if this is right for your individual needs and circumstances.
In some cases, homeowners can save hundreds of pounds a year by moving their mortgage to a more attractive rate with a different lender. Remortgaging can also work if your property has increased in value and you want to free up some cash from the equity tied up in your home, or if you want to make higher repayments to shorten your mortgage term.
If your current mortgage represents less than the maximum value that your current lender will advance you, then you could apply to increase the amount of money you borrow. Homeowners often consider this route if they want to fund home improvements, or to raise cash to provide a deposit for a second home, or to give funds to another family member to help them get onto the property ladder.
I will be able to explain the terms on which your lender would be prepared to do this, and go through the pros and cons.
For some mortgage holders who come to the end of their initial special offer rate, their lender may offer another special rate to encourage customers to stay with them.
I can help work out what’s the most suitable course of action to take when this offer is made.
Secured or second charge loans are separate from your existing mortgage. With this type of loan, you’re in effect taking out a new and separate mortgage in addition to your existing one, using your property as security for the repayment of the loan.
I will be able to explain the different options to you, and provide up-to-date details of what’s on offer in the marketplace. This service is offered by referral to a third party.
YOUR HOME MAY BE REPOSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
There may be a fee for mortgage advice. The precise amount will depend on your circumstances and will be agreed with you before proceeding, but estimate this to be £199.
The Financial Conduct Authority does not regulate some forms of buy to lets.
The guidance and/or information contained within this website is subject to UK regulatory regime and is therefore targeted at consumers based in the UK
Tania Prendergast trading as Tania Mortgages is an Appointed Representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority.
Part of the HLPartnership Mortgage & Protection Network