2015 Remortgage Deals
If you are considering remortgaging your property, the best 2014 mortgages deals for you are likely to depend on why you want to remortgage. There are various reasons why you might consider remortgaging, such as:
Remortgage to save money
This is one of the most common reasons for seeking to remortgage. Perhaps you have been taking advantage of a fixed rate mortgage deal that has now ended, and have been left with the lender’s standard variable rate (SVR) which is no longer competitive. Or perhaps you are no longer happy with your current fixed rate mortgage deal and want to switch to a preferable rate with another mortgage provider. Whatever your reasons, it makes sense to look at the long-term overall costs of the mortgage you’re considering as well as the interest rates on offer. Bear in mind that if you are looking to switch mortgages to another provider before your current fixed rate deal ends, you could be liable for penalty charges, so it makes sense to check before making any decisions.
To get access to extra money
For some people, remortgaging is a method used to free up some equity in their property to help pay for things like home improvements.
Remortgage to change your financial circumstances
You may want to review your mortgage to take into account financial changes related to your employment status or personal situation – for example, you may have had a pay increase and therefore want to pay more on your mortgage each month.
Remortgage to consolidate your existing debts
Remortgaging can be a means of releasing funds to consolidate existing debts into one monthly payment. However, remember that this increases the debt against your property and it can mean that the mortgage will take longer to pay off.
In order to take advantage of any of the remortgage deals currently on the market, you will need to check the lender's specific requirements and ensure that you are eligible before you apply. When considering a remortgage application, mortgage lenders will look at factors such as:
- How much existing equity do you have?
- How much do you earn?
- How stable is your income?
- Do you have any outstanding debts?
- Do you have a good credit history?
These factors, along with other criteria, will be used by lenders to decide whether or not they are prepared to offer you a remortgage deal, as well as determining the kind of rates that you might expect. Generally speaking, the higher the equity you have in your current property, the greater your choice of top remortgage deals.
Find Best 2015 Remortgage Deals Online
Using our tables you can compare a selection of market leading remortgage deals.