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Remortgaging

Nearly one third of all UK home loans are remortgages. There are many reasons you may want to consider to remortgage your property. The Mortgage Brain in Gloucester has over 30 years' experience in helping people remortgage their existing homes.

By remortgaging, you may be able to make huge savings depending on your current rate and circumstances.  Maybe you've been on a variable rate for some time without even considering how much extra you have been paying over the years.


6 Reasons to Remortgage


Your current deal is about to come to an end

Once your current deal ends, your mortgage lender will automatically put you on their standard variable rate (SVR), this will often be a much higher rate than your old one.  If you are an existing customer of The Mortgage Brain, we have systems in place to write out to you 3 months prior to your existing deal ending. This enables us to source you a much better rate, helping you make informed choices and possibly save money.

You want a better rate

Just because you are tied into a deal, doesn't mean you can't get a new one. Often your deal will have an early repayment charge, however depending on how long you have been tied in for, you might find that changing to a better rate actually outweighs the repayment charge in the long run. Contact us to speak to one of our advisers who will look at what charges you have to pay and will advise if it is worth remortgaging to a new lender or staying with your current one.


Home Improvements

If you thinking of making some home improvements, need to update your heating system or want to replace your windows, then remortgaging or taking out a further advance with your current lender is a good way to achieve this. The Mortgage Brain have access to many lenders and can help you find the best deal to help you achieve improving your home.


Release equity to purchase another property

If you want to purchase a second home, holiday let or a buy to let property and you have enough equity in your current property then remortgaging is a great way to raise the deposit. Contact one of our advisers to discuss your current situation and they will be able to advise if you eligible to raise the required deposit.


Consolidate existing debts

In some circumstances you may find that remortgaging may be a cheaper way to consolidate some existing debts to make a more affordable monthly payment. By discussing your exact circumstances with one of our experienced advisers, they will be able to ascertain if remortgaging will be an option for you.


Your home value has increased

If the value of your property has increased a lot, you may find your loan to value is lower, giving you access to much better rates.  Contact The Mortgage Brain to discuss which rates are available to you.


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