There is another different but very important reason for re-mortgaging – and that is SVR (Standard Variable Rate mortgage). Are you aware that those on the standard variable rate are likely to be paying the most as these rates tend to be much higher than others on offer. You could potentially save money by taking advantage of the competitive remortgage rates on the market or even using a product transfer if your existing lender offers this facility.
If you are on the standard variable mortgage rate you are potentially throwing money away. Borrowers could save £193 a month based on a £150,000 mortgage over 25 years on a repayment basis by switching from the average SVR to the average 2 year fixed rate at 2.35%. If you are planning to remain in your existing property it is now possible to remortgage for any purpose including releasing equity for home improvements or debt consolidation consolidation or for reducing your monthly payments without increasing the term of your mortgage.
Think carefully before securing other debts against your home or property. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
Your Next Steps
In addition we are dedicated to creating a long term relationship that will deliver excellence to you. We will always add you to our diary system, this will ensure that 3 months prior to you returning to your lenders higher standard variable rate we will give you new options to ensure that you are always on the most competitive rate saving you money.
Contact us now and see what savings you can make.
93 Byres Rd, Glasgow, G11 5HW
Our Phone Number
0141 337 3393