EQUITY RELEASE WILL REDUCE THE VALUE OF YOUR ESTATE AND CAN AFFECT YOUR ELIGIBILITY FOR MEANS TESTED BENEFITS.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Have you looked at changing your utilities provider or changing your credit card to obtain a better interest rate? Then why not change your mortgage provider to achieve the same?
Reasons to remortgage
Lower your monthly expenditure by obtaining a better rate of interest from a new lender. As we have access to the whole of the market, our aim will be to arrange you a suitable loan with a lower interest rate than your current mortgage.
To raise money (for most purposes) by releasing the equity in your property by increasing your mortgage. It is sometimes possible to borrow a higher figure but keep your monthly commitments the same. This is achieved by borrowing at a better rate of interest. Adding existing debts to your mortgage may both extend the repayment term and increase the overall cost of the debt.