Remortgaging with Ocean Mortgages
Ocean Mortgages is a leading UK mortgage broker that helps give you access to leading mortgage lenders from the highstreet, when you enquire online you will recieve no obligation help & free mortgage quotes suitable to your circumstances.
Why Remortgage?
Your mortgage is probably your bigest monthly outgoings so ensuring you have the best mortgage rate could save you a significant amount of money on your monthly outgoings as a result many people switch their mortgage plan every few years to make sure they have the most competitve mortgage plan available. Many mortgage mortgage providers offer special initial low rates on their mortgage plans to intice new customers to switch. Those that remain on the same deal for the full term of their loan could lose out on a range of potential benefits, not least the opportunity to reduce thier monthly outgoings or the total amount paid back, which could be a significant amount in some cases.
In simple terms, remortgaging involves switching your current mortgage to a new deal, arranged either with your existing lender or with a new lender. As well as saving money their are other reasons you may wish to remortgage.
- Save Money
- Raise Extra Money
- Avoid Moving Home
- Consolidate existing debts
To save money
If you have reached the end of the discount period of your mortgage and you're paying your lender's Standard Variable Rate (SVR), it's likely that you could find a better rate by remortgaging this could help reduce your monthly outgoing and the total amount payable. Remortgaging could allow you to save money on your monthly repayments, or to repay your mortgage sooner. Many mortgage providers offer discount rates to new customer to intise you to switch your mortgage to them, even if doing so would trigger early repayment charges payable to your existing lender, as this could still mean a net saving to you. it is important to consider the costs of changing the mortgage compared to the any savings you may be making. When you enquire to Ocean your mortgage adviser will give you suitable mortgage advise this sometimes means they will advise you not to remortgage.
To raise money
If you have paid a portion of your mortgage or have seen increases in your porperty value you could use remortgaging as a way of releasing equity and raising money. You could use the money from remortgaging for almost any purposesuch as helping pay for major outgoings such as a wedding, holidays, newer car or your child's university costs. Remortgaging may be a cheaper option than other borrowing methods such as personal loans, credit cards or secured loans
To avoid moving home
If your family is growing and you need extra room it may be cheaper and more convenient to adapt or add an extension to your existing home rather than to moving home.Remortgaging or a further advance can be a way a raising extra money for your home improvements.,
To consolidate your debts
Remortgaging could allow you to restruce your finances by allowing you to release some of the equity you hold in your home to consolidate other debts, such as loans, credit cards or store cards which can attract higher rates of interest than that of your mortgage. Debt consolidation remortgages could be used to reduce your monthly outgoing and rolling all your existing debts into one manageable monthly repayment.
Find You The Best Mortgage Plan From Our Panel
No mater what your circumstance we will endeavour to find you the best remortgage we have available, this may depend on a number of factors including the mortgage term, loan to value, individual circumstances and your credit rating, we will examine your needs, requirements and circumstances to give you best mortgage options we have available. If you have a bad credit rating and have had difficulty finding a mortgage we may still be able to help we have special mortgage plans for people with bad credit, mortgage arrears, CCJ's or existing debts. Our specialised bad credit remortgages could help you take control of your finances and restructure your outgoings.
Speak to an Ocean mortgage adviser on 0800 9169186
who will be happy to help you & answer any questions
you may have about part & part mortgages
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