There are many reasons why you may want to re-mortgage
your house and changing lender can be a simple route to achieving many
objectives. Here are some examples for you to look at.
Reducing your monthly payments If your goal is to reduce your monthly mortgage payments because the
current rate of interest you are paying is too high, a re-mortgage will
be the answer.
Example - Saving on Monthly
You are paying base rate with your current lender (Santander is approx
4.79 today), by re-mortgaging you
could cut the rate down to 3.49%, fixed for 2 years. On an
interest only mortgage of � 80,000 this would cut your monthly costs
down from �319 to �232 per month - a massive saving of �2280 over the
If you have been living in your house for a few years and
you are happy with the location, the neighbours, being close to schools
etc.. but the house is in need of improvement or you want to raise some
capital, a re-mortgage may be a better bet than moving house.
- add another bedroom or two, conservatory, new kitchen or bathroom
for further information regarding any of these products,
"THINK CAREFULLY BEFORE SECURING OTHER DEBTS
AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT
KEEP UP REPAYMENTS ON YOUR MORTGAGE"
M Davies Mortgages Ltd is authorised and
regulated by the Financial Conduct Authority
Number 302051 Consumer
Credit Licence Number 546033
FEES - "We
do not charge a fee for arranging your mortgage, unless the amount you
need to borrow is less than £150,000. In these circumstances the
actual amount of the fee will depend on your circumstances but a
typical fee is £350"
The APRs quoted above are costs for comparison. The actual rate will
depend on your circumstances. Ask for a personalised illustration.