Remortgage

If you're approaching the end of your current mortgage deal why not talk to one of our advisers in advance and have them undertake a comprehensive search of the market to see if we can save you money.

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Your Mortgage Options

Remortgage

Remortgaging is something that we should all consider regularly - just to make sure we're on the right deal. It's easy to be complacent when the bank rate of interest has been so low for so long but in reality that means it's a great time to lock down a good rate and avoid any nasty surprises in the future.

At BuildStore, we may be able to save you money if you remortgage. Why not let our expert advisers at Your Mortgage Options do the hard work for you? They'll undertake a comprehensive search of the market on your behalf, looking at thousands of products to find the right deal for you.

Current mortgage deal coming to an end?
Your mortgage is probably your single biggest monthly expense, so getting the right deal could also be your biggest saving. It's especially important to seek advice when your existing mortgage is coming to an end of its deal period - the last thing you want is to see your monthly repayment go through the roof! Talk to one of our advisers in advance and we'll see what we can do for you.

Need more space but can't afford to move?
Why not think about remortgaging to release equity which will let you extend or convert your present home? With the current low rates of interest you could achieve a bigger home and keep the same monthly payments.

Things to consider
Before you decide to go ahead and switch to a new mortgage deal, it's worth weighing up a few things first.

There may be an early repayment charge on your current mortgage that you have to pay off before you switch to a new deal. This may outweigh the benefits of switching,

The lower your loan-to-value (LTV) is, the more mortgage deals will be available to you. You can work out your LTV by dividing your outstanding mortgage balance by your property's current value.

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Example LTV Calculation

Your outstanding mortgage
£100,000

Your property value
£250,000

100,000/250,000
0.4

0.4 x 100
40

Your LTV
40%