Popular Remortgage Scenarios
- Saving money with a Remortgage for a better product.
- Capital raising for large purchases i.e. a home improvement or wedding etc.
- Wanting to fix your monthly mortgage payment to protect against interest rate increases.
- To remove a name from a mortgage. This is popular in marital separations.
- Debt consolidation. To explore the cost of combining unsecured debts on credit cards, loans, etc on to your mortgage. Important, it’s our duty to advise you of the risks involved with securing unsecured lending against your home.
- Been declined? Whether you have a poor credit score, the bank won’t lend enough, you have a mixture of income, not fitting your banks lending criteria etc
- Complicated remortgage situation and seeking help from an expert Mortgage Advisor in Beverley?
You should think carefully before securing other debts against your home. By adding your unsecured debts to your mortgage, which is secured on your home, you are potentially putting your home at risk if you cannot make the required repayments.
Although the total monthly cost of servicing your debt may have reduced, the total cost of repayment may still have risen as the term of your mortgage is longer than it may have taken to repay the debts originally.