Re-mortgage FAQ's
Below is a list of the most frequently asked questions regarding Re-mortgaging. If the question you want answered does not appear please do not hesitate to contact us and we will answer it for you.
What size loan can I apply for?
The most important factor in determining the size of loan you should apply for is affordability. Your personal circumstances will determine how much you can afford in monthly repayments, and it is essential that proper consideration is given to your budgeting, to ensure that the monthly repayments do not become unsustainable. Take independent financial advice if you are unsure.
Other factors will include the amount of equity available within your property, and other borrowing against it. Your income will have an impact too. Depending on these factors amounts are available from £1,000 to a maximum of £500,000.
What if I decide I would like to move house?
You can pay the outstanding balance by requesting a settlement figure from the lender. Alternatively, it may be possible to use the new property as security, assuming sufficient equity is available. Read the small print and be aware of any penalties you could incur due to early settlement.