Remortgaging

Many people remortgage to gain funds to carry out home improvement work to their property. This is often seen as a sensible option, as any improvements you make to your home may well increase its value in the long term. Spending in this way is therefore an investment in your property as you will likely see a return on it at some future date.

There are many reasons why people choose to remortgage some are:

  • Your current fixed rate is ending
  • Obtain a better interest rate
  • Pay off debt
  • Home Improvements
  • Extend your home
  • Changes to their financial situation
  • Change from interest only to repayment
  • Equity release

If you have come to the end of your fixed rate your mortgage will revert to the lenders Standard Variable Rate [SVR]. The SVR might higher than other lenders rates on the market as there are large variations between lenders and this if it were to run to the end of the mortgage term can cost thousands of pounds in extra payments.

This failure to switch earns lenders a considerable amount in extra interest, which in the main is avoidable if at that point you shop around for a better deal. While there is a cost to remortgaging, with regard to lender and solicitor fees, many lenders offer to pay these costs for you.

If you would like to use our FREE no obligation mortgage comparison tool please click on the button below. We do not look to capture any of your data at this point you are welcome to use this for free before contacting us.

Remortgaging Advice

By talking to a qualified remortgage specialist at Lothian Mortgage Services you can get remortgage advice and save literally thousands of pounds in interest by taking action. Contact Lothian Mortgage Services today on 0131 215 1007. Alternatively, you can fill in the contact form below and a member of our staff will be in touch shortly.

Remortgaging Enquiry

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Lothian Morgtage Services

3 Chuckethall Place
Deans
Livingston
EH54 8AN

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