Remortgages in Brighton Hove and Shoreham
For the first time in my 19 year mortgage career I would describe remortgaging as exciting. The act of remortgaging
of course isn’t (nobody likes paperwork), but the savings that can be made currently and what can be done with this money certainly is!
When opportunity knocks….
Property prices have risen significantly in the South over the past few years, combine this with a strong appetite to lend money which has increased competition among lenders, and for those on a repayment mortgage, your balance will have reduced too. All of this has resulted in providers fighting for mortgage business which has kept rates low.
So what does this all mean to you and your friends…?
1) Increased property prices means you will have more equity in your home, which means it is lower risk for the lender. Lower risk = better rates
2) Your mortgage balance has reduced which means you will have more equity meaning lower risk for the lender. Lower risk = better rates
3) Increased appetite to lend has increased competition which also = better rates
How can you take advantage?
- Reduce the mortgage term. It is common for us to reduce a mortgage term by between 5-10 years without seeing an increase in the monthly payments
- Reduce your monthly mortgage payments. It is common to save £150-£250 per month
- Borrow extra monies without it costing more each month. It is common to see increase borrowing of between £20,000-£40,000 without an increase in monthly payments.
- What could you borrow extra monies for:
Buy an investment property
If you, a colleague or a friend would like to explore what opportunities are available to you please make an enquiry or call us on 01273 736536.
Remember when you help your friend or colleague by recommending us you’ll receive £100 upon completed mortgage business.