Remortgage Heroes 2022
In 2022 The Openwork Partnership launched the ‘Remortgage Heroes’ initiative to highlight the importance of retaining existing clients and to recognise mortgage advisers that have the remortgage discussion at the right time.
Money & Mortgages are delighted to be recognised as a Remortgage Hero 2022.
As a Remortgage Hero, we are building long term relationships, and caring for our clients holistically by having their long term financial goals in mind, supporting them at any financial stage in life.
Openwork has said, “Thank you for doing the best for your clients and delivering good outcomes. You remained connected with clients and your valuable remortgage advice ensured they secured a great remortgage deal. This is especially important in current, tough economic times and increasing rates.”
Reasons to remortgage >
Even if you’re not on your lender’s SVR, there are a variety of reasons you might want to remortgage:
- To beat interest rate hikes. As inflation goes up, interest rates are starting to follow suit, so it may make sense to lock into a low rate now.
- You’re coming to the end of a deal. Mortgage advisers generally agree you should start looking for a new deal around three to six months before your current rate ends!
- The value of your home has gone up. A significant rise in the value of your home may have moved you into a lower loan-to-value band, meaning remortgaging may give you access to reduced rates.
- You want to borrow against your home. Remortgaging may allow you to raise money cheaply on low rates. Before doing this, it’s worth getting financial advice to make sure this really is the cheapest way for you to borrow.
- You want to overpay, and you can’t on your current deal. If you’ve come into some money recently, remortgaging will allow you to reduce the size of your loan and possibly get a better rate. You’ll need to take into account any exit fees or early repayment charges to weigh up whether remortgaging makes financial sense.
Where to start >
It’s not always clear cut whether you’ll benefit from remortgaging. A qualified mortgage adviser will look at your circumstances and find out exactly what you want to achieve by remortgaging. For example, are you simply looking to reduce your monthly payments or do you want a more flexible mortgage that allows payment holidays? The adviser will then set out the best options available. Regular mortgage reviews can help ensure you’re never overpaying unnecessarily.
If you would like to find out more, please get in touch with one of our advisers.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.