Getting a better rate

One of the main reasons to remortgage is to get a better rate (especially if you had an introductory deal which has ended and you are about to revert to an uncompetitive standard variable rate).
You might want to remortgage on to a fixed rate so that you know exactly what your repayments will be for a certain period. Alternatively you may wish to take advantage of low base rates with a discount or tracker mortgage. It is sometimes easy to be drawn in by what appears to be a fantastic offer but lenders’ other charges such as arrangement fees and early repayment charges can vary considerably. That’s why we will take the time to find out about your individual circumstances and needs before making a recommendation.

Home Improvements

Many people remortgage or obtain a second charge mortgage loan to improve their own home rather than moving. Often adding an extension, fitting a conservatory, updating the kitchen or bathroom or even just redecorating your home can make it feel like new. This can still involve large sums of money and a remortgage or second charge mortgage loan may be the most cost effective way of raising the money. Of course you may also wish to approach your existing mortgage lender to see if they can help but it’s well worth taking the opportunity to see what else is available.

Consolidating debt

You may wish to remortgage your home in order to pay off more expensive debts and most mortgage lenders will allow you to do this so that you can reduce your monthly outgoings. You should be aware however that you may pay more in the long-term if you are repaying the debt over a longer period of time. Don’t forget mortgage lenders may repossess your house if you do not keep up the repayments on a mortgage.

Bad Credit Remortgage

If you have a bad credit record in the form of a County Court Judgement, missed payments, defaults or previous bankruptcy, you may need specialist advice from an experience and specialist mortgage adviser like The Select Partnership.

How can The Select Partnership help?

Whatever your reasons for wanting to remortgage your existing property, The Select Partnership can help. We have operated in the specialist remortgage market for over 25 years and have established relationships with many well known lenders.

Where you are looking to borrow additional money you should be aware that there are alternative finance options other than a first charge or second charge mortgage which may be suitable to you. This includes a further advance with your existing lender and/or an unsecured loan however we do not advise on these products and cannot therefore confirm whether they would be appropriate to you or whether you would be eligible.