Remortgages

Remortgaging doesn’t have to be complicated – all you need is good professional advice! 

For most people, your home is the most expensive item you’ll ever buy, and probably your biggest asset. Remortgaging can help you use that asset to your own advantage – and Crawford Mulholland has the expertise to help you do just that. 

Remortgaging sounds complicated but, put simply, this simply refers to the process of switching your existing mortgage to a new deal, using your property as security. More than half of UK homeowners overspend on their mortgage by not remortgaging at the end of their term, and going into the standard variable rate, but we are here to help you ensure that your mortgage rate is the best it can be. 

There are many benefits to remortgaging, but also some pitfalls to consider. When you remortgage, you may increase your monthly payments; you may be charged an arrangement fee on the new mortgage; and if your existing mortgage hasn’t yet reached the end of its term, you could also be charged exit fees. 

With our help, you can weigh up the pros and cons, and ensure that you are making the right decision for you. Some common reasons to remortgage include:

• Your deal is coming to an end – we recommend contacting us before your current mortgage expires

• To release equity – this could be invested in a business or second property

• To change the term of the mortgage – aim to pay your mortgage off earlier, or extend the term for a less expensive rate
• Changing mortgage type to buy-to-let – should you decide to rent out your property.

You may have to pay an early repayment charge to your existing lender if you remortgage. Your home or property may be repossessed if you do not keep up repayments on your mortgage.