Compare our remortgage rates · Use our helpful calculator ; Why remortgage? · Ways it could help ; Things to consider · Fees and charges
Buying a home is the biggest purchase most people make. Most require a mortgage to do it and breathe a sigh of relief once that's sorted. But time flies and with Britain's favourite mortgages being two and five-year fixed rates, many homeowners find their deal is ending and it's time to remortgage sooner than they think. At that point it is time to plunge back into a mortgage world that many of us know little about - and with interest rates now much higher than they've been for many years - to make sure you get remortgaging right and move to th ...
What type of remortgage costs will I pay? · Remortgage fees fall into those you may need to pay to leave your existing mortgage deal, and those you'll need to pay to arrange your new deal. Not all lenders charge every type of fee. For example, when some lenders offer a remortgage, solicitor fees are included, and some even offer deals with no fees at all. That said, a fee-free remortgage won’t necessarily offer you the best long-term benefits. Comparing remortgage costs · It can be difficu...
Property type, % of total quotes, Avg mortgage balance (2023), Avg mortgage balance (2024) ; Flat, 16.84%, £164,780, £167,483 ; House, 82.01%, £173,973, £178,827 ; Maisonette, 0.89%, £165,850, £166,312 ; Other, 0.26%, £185,436, £168,646
I took out this remortgage thing the other day - paid off all my debts etc. and goin to the antarctic for a month's sabatical next week.It's really great - I don't have to think about who I...
Why should I remortgage? ; Remortgaging gives you the opportunity to switch mortgage deals to one that is more suited to your needs, whether it has lower interest rates, more flexible terms, or both. You can also remortgage to increase your borrowing, either when moving to a more expensive property, or simply to make use of the equity built up in your home. To make the best of your remortgage options, timing is absolutely essential, so it’s important to understand when is a good time to remort...
If your mortgage's initial term is ending soon, beware. You're usually bumped to lenders' far more expensive standard variable rates, currently around 7% to 8%. It's always best to lock in a new mortgage to start as soon as your previous deal ends. Yet in volatile mortgage markets like today's, with rates going up and down in response to economic conditions, you don't know whether today's rate will be beaten by rates available in a couple of months' time. So, you need to play the field... ...
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If you’re looking to remortgage, Saga Mortgages are here to help. We partner with Tembo, who are an award-winning digital mortgage broker. They provide expert advice and access to a wide range of mortgage deals. We can help you apply for a new mortgage up to six months before your current deal ends. If interest rates fall before you switch, we'll let you apply again at no extra cost. And if rates go up, your lower interest rate will be safely locked in. As with any mortgage, the loan will be s...
Homeowners looking to borrow larger amounts – upwards of £20,000 – at potentially lower interest rates than unsecured personal loans, might want to consider a secured, or homeowner, loan. These loans may appeal to homeowners who are unable to extend their mortgage or remortgage, perhaps due to high early repayment fees. Also known as second charge mortgages, these loans are secured against the value of a homeowner’s property and are available against repayment terms of up to 35 years. Ho...