As you approach the end of your current mortgage deal it’s time to consider your options. We are whole of market mortgage advisors which means that we can source you the best deal available. We’re not tied to one particular lender so we can find you the best remortgage deals. As well as finding you a great deal you also have many other options to consider. At this point you have the option to reduce or increase the term. If you were hoping to pay off some of your mortgage with savings now is a great time to do that. However a lot of people may want to use some of the equity that they have built up in the property for another purpose. Each lender has their own criteria covering acceptable reasons for capital raising. But across the market you have plenty of options including:
- Paying off other debts
- Home improvements
- You may need money for your business
- Using the money as a deposit for another property
- Buying some land
If you haven’t arranged a new deal since your old one expired and you’re currently sat on standard variable rate, there could be ahuge savings in interest to be made.
Get In Touch if you would like to discuss your options.