People stay with the same bank for years,
paying much more than they need to be especially if they
have come to the end of their deal period and have reverted
to that banks standard variable rate. By moving to another
lender a much more suitable mortgage may be obtained
In addition your situation and needs may have
changed from when you last reviewed your mortgage arrangements.
You may wish to repay your mortgage more quickly, have the
flexibility to make overpayments, draw down additional funds
for home improvements or to purchase an additional property,
consolidate debts you have accrued or extend the mortgage
term to make your monthly payments more affordable.
As with a purchase of a property our knowledge
of lender criteria and contacts allow us to approach the
most relevant lender for your circumstances thus avoiding
multiple credit scoring by different lenders which can have
a negative effect on your credit score and future ability
to borrow.
With so much choice in the market the remortgage
process may seem daunting or complicated. We have access
to the whole of market and have lenders on our panel who
offer specific re-mortgage packages providing help with
the cost of switching including fee free deals. It is our
job to help you make the right decision.
Our fee for this service is
up to 1% of the loan amount, typically this would be £595.
Think carefully before securing other
debts against your home. Your property may be repossessed
if you do not keep up repayments on your mortgage.
Openwork Limited offers insurance and
investment advice on products from a limited number of product
providers and advice on mortgages representative of the
whole market.
