Re-mortgaging 2021 – Switch  Save  Donate

Some helpful information

You may be considering re-mortgaging for the following reasons:

  • Save money and make your repayments more affordable
  • The value of your home has increased and you want to borrow more
  • Your current mortgage deal is ending and will revert to the lender’s standard variable rate (SVR) usually more expensive and at risk of interest rate rises as lenders can often move their SVR with no clear link to the Bank of England base rate

Re-mortgaging with your current lender to a better rate may be a quicker route to saving money as you don’t need a further valuation on your property and no credit checks are required. You may even benefit from additional borrowing should you require it.

If you are considering a new lender and using a price comparison website please consider the following:

  • many deals are not shown here and are only available through a mortgage advisor
  • they do not take into account your credit rating until you apply at which point you may not be eligible
  • multiple credit searches could hinder future mortgage applications

Do ask a couple of local estate agents to give your home a valuation prior to any new lender’s independent valuation.  They can give you valuable advice on the current market and expectations for 2021.

Don’t leave re-mortgaging too late, ideally you should apply three to four months prior to your existing deal ending and don’t be afraid to ask your current lender if they can better what you find to retain your business.

Current mortgage rates are very attractive, and it could be the best time to re-mortgage with a fixed rate. Bear in mind, as soon as the Bank of England considers raising interest rates the demand for fixed rate mortgages will sharply increase and the best deals will quickly disappear as lenders do have limits on their mortgage deals.

When deciding how long to fix your new deal for, do look beyond the headline rate and focus on the total cost of the deal including all fees.

Switch Save Donate with fundUgive2

We are an experienced mortgage broker offering a free mortgage advice service that can help you with all this and more.

We will also donate 25% of our fees from the mortgage lenders to a charity of your choice.

 We can let you know if you are better off staying with your current lender and moving to a new deal with them or switching to a different provider.  We can help you decide what is affordable and doesn’t impact on your current lifestyle. We make the process as simple as possible and you don’t need to leave your home.

Please contact Michaela on 020 3954 2103 or email mchard@fundugive2.com or visit our website www.fundugive2.com

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Please check out our re-mortgage guide fundugive2 re-mortgage guide