Remortgages

Find out here how much you can save by remortgaging. The process of switching usually means moving to a new lender, but in recent times existing lenders have tried harder to retain customers by offering better deals to stick with them.

So why should you remortgage? The main purpose is simple, to get a better deal and to ensure that your largest outgoing is as low as possible.  Your lender, whether they are the current lender or a new one, will look at your outstanding mortgage balance as a percentage of your property value, also known as your ‘loan to value’ or ‘LTV’.

The LTV has a direct bearing on the rate you can achieve, so if your property value has gone up since your last mortgage completed, and the balance has gone down, there is a good chance you could get a better rate if you switch.

In addition to the LTV, the lender will also want to know that you can afford the mortgage, as with any type of mortgage application. Different lenders have different criteria around this, and Genistar Mortgages have access to the entire market so can do the analysis on what you qualify for, and who has the best rates for your situation.

Genistar Mortgages also help their clients to release equity from their homes, which can be used to fund home improvements, to consolidate other debts into the mortgage to reduce the monthly cost burden, and even to put down deposits to fund further property purchases without selling the current one.

Simply submit your details to us via the Free Quote button, and Genistar Mortgages can start working for you to achieve your savings or to release some money that is tied up in your home.