Re-mortgage
RE-MORTGAGE
Smarter, seamless
re-mortgage solutions
When you change your mortgage to a different product, it’s known as remortgaging. You might choose to remortgage your property with a new lender to take advantage of a better deal or, in some cases, you can change to an alternative mortgage product with your existing Mortgage Lender, this is called a Product Transfer.
You may find remortgaging helpful to borrow large sums of money against your property for things such as home improvements or consolidating debt.
It’s important to consider all options and with thousands of mortgages to choose from, Parx can offer you expert advice and help through every step of the mortgage process.
How does it work?
When you decide to remortgage, timing the switch to suit your current circumstances is one of the most important consideration and we recommend that you contact us six months before your current mortgage ends to allow plenty of time to find a suitable deal.
We will speak to you so we can fully understand your current circumstances and once the initial consultation has taken place, we will then be able to search the market for a new product for you. If you’re happy with the deal you’ve been offered, we can secure the product and make an application to the lender on your behalf.
We will work with the lender to obtain a formal mortgage offer and will then liaise with you and the legal representatives to ensure that completion takes place at the desired time. If you are expecting any funds then these will be transferred to you within a few days of completion.
How does it work?
Finding out how much you could borrow is a vital step towards owning a home as it will set your property budget so that you can start looking at homes for sale and the best place to start is to speak to a mortgage broker like ourselves.
We will speak to you about your circumstances and work out what kind of mortgage might be right for you and how much you will be able to borrow. With your consent, will look to obtain an agreement in principle which is a statement from a mortgage lender that they will, in theory, lend you a certain amount to buy a home. It gives you good credibility with sellers and estate agents.
As soon as you have had an offer accepted on a property, let us know and we will help you through every stage of formally applying for a mortgage that is right for you and then you can relax, as we will work with all relevant parties to see your application through to completion.
