Can I remortgage if I have a secured loan?
If you currently have a secured loan attached to your property, you may be concerned about your ability to remortgage. Whilst it is possible, there are several things to consider based upon your individual circumstances before you progress.
Remortgaging To Release Equity
Whether you’ve paid a large chunk of your mortgage or the value of your property has increased, you might be considering taking advantage of the equity that has accumulated in your home. Remortgaging to release equity means you gain access to a cash lump sum, which you can use for things such as home improvements or paying off other debts. However, remortgaging a house to release equity isn’t always the best option for your individual needs, which is why we’ve created this guide to help you make the right decision.
How To Save Money On Your Next Remortgage
If you’ve been with the same mortgage provider for some time, it’s likely that you may be paying more than you need to for your home loan. The market is constantly changing and what might have been a good deal at the time you signed up, probably isn’t very competitive today. Therefore, remortgaging and moving to a better deal can help you save a substantial amount of money. Here’s everything you need to know about saving money on your next remortgage.
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Your mortgage will be secured against your property.
Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee of up to 1.95% of the mortgage amount, subject to a minimum fee of £1,295 and an overall maximum fee of £2,995 payable on completion.