Remortgages*

On this page:

• Common reasons for remortgaging
• Things to watch out for
• Why use us?
• Mortgage Calculator

Common reasons for remortgaging

To get a better interest rate

If you are currently paying the standard variable rate of interest offered by your lender, it is probable you are paying more than you need to. It is not unusual for us to save a client substantial amounts of money just by switching them to a better rate. If you locked in to a high fixed rate a while ago, it may be worthwhile breaking your deal and taking advantage of lower rates. We can calculate whether this is cost effective for you.

To reduce monthly payments

If you have credit card or other loan commitments, you may be able to consolidate these onto your mortgage, resulting in often huge cashflow savings in monthly outgoings. A flexible mortgage is a great way to achieve this, as you can still pay off your debt over the same period, but possibly at a lower interest rate than you have been paying.

To borrow more money

This could be for home improvements, purchasing another property, or any other reason. Why pay high interest rates, when you can take advantage of mortgage rates and still pay off the loan over a short period if you wish. To give you an idea of what a mortgage might cost, you can play with our mortgage calculator.

To repay the mortgage more quickly

With a lower interest rate you could use the savings to pay off your mortgage faster. Even relatively small savings can make a big difference to the term of the loan if they are re-invested into the mortgage. Again, using a flexible mortgage can help you to do this in a very cost effective manner.

Things to watch out for

Redemption penalties

• On your own mortgage: If you have had a special deal from your lender, you may still be 'locked in' and charged a penalty if you switch to another lender. Find out by looking at your mortgage offer or ask us to.
• On the new mortgage: We try to find products ideally with no penalties whatsoever, or at worst with penalties which are only as long as the offer period. Whilst this is not necessarily suitable for all clients, flexibility is becoming more and more important as people's circumstances change so quickly.

Fees

We try to find products with either no fees or very low fees. You need to be aware of some lenders 'hidden costs' such as Mortgage Indemnity Premiums which can sometimes be thousands of £s and which are added to your loan. Fees have been increasing recently, so it's even more important you compare from the whole market - which is what we do!

Compulsory insurances

Some lenders offer apparently attractive rates, but insist you take their buildings insurance, contents insurance or other insurance product. These are often expensive and limiting. We try to find products without these 'tie ins'.

Poor service

There are some lenders we simply will not deal with because of their poor administration. Use the benefit of our experience - we will tell you how efficient your lender is likely to be.

Getting confused

There are hundreds of remortgage products on the market. Comparing them without specialist knowledge, a sophisticated software programme or hours of spare time is virtualy impossible. Why not let us do it for you?

Why use us?

• We will do the research for you - we have the most advanced software programmes able to search every mortgage available in the market place.
• We will only recommend the best products to suit your individual circumstances.
• We will endeavour to give you best advice - it will be unbiased and in language you can understand.
• If we cannot save you money we will tell you immediately and honestly.
• When your redemption period expires we will automatically contact you if we feel we can switch you to a better deal.

Edison Ford's M.D., John Moon has been arranging mortgages* since 1979. His knowledge of the market is unrivalled and all staff are employed on the basis they only recommend products which are the most suitable for the client's circumstances.

Interested?

Contact us using any of the methods on this page. Please find out your redemption penalty details before making contact as this is the first question we are likely to ask you.

Alternatively, you can apply now, without obligation, for a flexible re-mortgage with Intelligent Finance

we can help!