How can I benefit from #remortgage?

What can I do with #mortgage term on #remortgage?

When you first buy a house, it has its own loan to value amount. For example, if you were to buy a house for ￡200000, your deposit was ￡20000(10%) and you were to borrow ￡180000, the loan to value amount would be 90%.

The loan to value is what usually dictates the #interestrate and lenders’ offer.

As you start repaying your #mortgage, with capital repayment, the borrowed amount is less and less ??with years and the value of your home may go up????.

#Remortgage is usually the time when you review value of your #property and the amount you still owe to the bank and see if there is any way you could reduce the interest or the term of the #mortgage. We have helped our clients shrink their mortgage term by a good few years??

Or, alternatively, you may actually be in a position where you would rather prolong the term and minimise your monthly #mortgagepayment. That may mean less monthly expense but obviously might cost you more in interest.

It is always good to consider options when your fixed deal is finishing soon to see if you could save on interest by cutting off years of your mortgage term. A qualified adviser will check what is available and possible for you to do on re-mortgage. Should you have any questions, we are here to help.

#mortgageadviser #staffordshiremortgage #firsttimebuyer #homebuyer #GRNFinancialServices

GRN Financial Services Limited is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority

Our fees and charges vary depending on the Services we provide to you. We typically charge a fee of ￡350.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE