Reviewing your financial commitments can keep your costs down.
Lenders offer initial rates to entice new borrowers, and when these end, you can move your mortgage to get a better rate. The best bit? We can help do it all for you!
Where Should I Start?
Headline rates are not always the immediate place to start
Just like getting a mortgage on a new property, the rates offered are dependant on you meeting their lending criteria, so headline rates are not always the immediate place to start. You can waste a lot of time applying to lender who will not agree to lend to you.
What Else Should I Consider?
Look at what affects your ability
to move your loan
Any changes to your circumstances since your initial loan: changes in your job, additions to your family or additional debt could all affect you ability to move your loan.
Perhaps you want to borrow more money against your house, read the details below for borrowing additional money.
How Can We Help?
We can find the right lender to
fit your needs
Using our advisers means we can find the right lender to fit your needs without applying to different lenders and so avoiding multiple footprints on your credit file.
We will provide a full breakdown of costs from outset including any solicitors , surveys and mortgage fees to be included.
Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Dreaming of home improvements or want to consoldiate debts?
A remortgage can be a good time to release funds to help with your plans for the future.
Where Should I Start?
Ascertain the current value of your home.
Borrowing extra money is dependent on the current value of your property and how much you have already borrowed against it. If the value of your property has increased, you may be able to borrow more money. What are properties like yours selling for in your area?
What Else Should I Consider?
It will also depend on what you can afford
Borrowing additional money will also depend on what you can afford, and making sure you pass the qualification checks. So make sure you’ve thought about what you can afford to repay each month – we can help you to work on this.
How Can We Help?
Our advisers won’t just assess your potential to remortgage.
By considering additional borrowing with current lenders, and secured loans as well as remortgages, our team will do all the hard work for you, sourcing the most cost effective lending for your personal circumstances.
Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Knowledge / Understanding / Quality / Aspiration
These 4 key principles underpin all our dealing our philosophy and how we deal with all our customers. Asset + is committed to continual development to maintain and improve your client experience.
KNOWLEDGE Industry Experts
Did you know our team of advisers not only requires industry-regulated qualifications to provide advice, but must complete regular continual professional development to prove their industry knowledge is up to date?
We don’t stop there – we ensure that training is rolled to our administrators too, and encourage them to sit the regulatory exams to further their own development and bring on the next generation of qualified advisers!
UNDERSTANDING Understanding You
We need to know a lot about you.
That includes your financial history so we can see what is affordable and who would consider lending to you.
Then we’ll talk to you about the future so we can help you plan ahead. This means we get to know you really well and become part of your team to help you achieve your dreams.
QUALITY Service Moving with the Times
We use the latest technologies to help us deliver great customer service, and help you send us information and documents quickly, easily and securely.
But technology isn’t everything – it’s really important to us that you can speak to your mortgage adviser on the phone, on a video call or in person whenever you need to – no queues, no call centres. Just your own friendly adviser.
ASPIRATION Dreams into a Reality
We believe in dreams. We know they can come true! And our job is to help you find the way to finance your dream home and future lifestyle.
Whatever you are dreaming about, if it’s property-related, we can help. From your first home to becoming a landlord and even protecting your business, we’re here to be your partner along the way.
Recent study show borrowers only consider remortgaging when looking to borrow additional money, but this should not be the case. The main reason to remortgage is to save money on the amount of interest you pay to the lender. With your existing loan, it is very likely your lender offered an introductory rate to attract you to borrow money from them. When that rate finishes you revert to a costly variable rate and it therefore makes sense to shop around again to keep down your monthly mortgage costs.
However, if you do require additional money, perhaps for home – improvements, fund another property purchase or large luxury item, or any other legal purpose. remortgage is an option you can consider.
Just like your car insurance, mortgage lenders offer competitive rates to entice you into to changing with them, so even in times of low interest rates, it still pays to shop around.
In addition if you property has gone up in value since the original loan, it may mean you have moved into a lower risk category, which lenders offer even more competitive rates on.
Before considering remortgaging you should check there are no penalties for leaving your existing lender. An early repayment charge (ERC) could be payable should you try and move your mortgage while still benefiting for the lenders current mortgage deal.
To set up a new mortgage, there will be fees involved including survey costs, legal fees and arrangement fees. However, many lenders offer “fees free” deals to entice new borrowers.
A common request is to move from paying an interest only mortgage to a repayment loan, allowing you to repay the debt on your property over the chosen mortgage term.
There are other flexible mortgages that may be of interest; for example, loans that give you the ability to overpay each month, offset savings or even take payment holidays under certain circumstances.
There is no maximum age to apply for a mortgage, however lenders will your look at what term you wish to repay the loan over. They will take into account when you plan to retire and, if the term extends beyond your retirement date, that you will have sufficient income in retirement to sustain the mortgage payments.
Alternatively we can help with later life lending options for people aged 55+
Known as Transfer of Equity, this will involve a full legal process and affordability reviews from the lenders. If removing a person from the loan, the lenders will check if the mortgage is affordable to the remaining individual. Even when adding someone to the loan, the person will be vetted in the same way as a new mortgage application and could potentially incur the government tax, Stamp Duty.
With the costs of living increasing, it may be financially beneficial to review all your debt with an option to include existing debt into your mortgage loan.
It may not always be the best solution and is very dependant on you individual circumstances, so before jumping in, talk to Asset Plus, to get full advice on the right solutions for your individual circumstances.
If you are a homeowner and are looking to borrow additional money, there are various avenues that may be open to you. You could consider remortgaging, taking a further advance or secured loan. But which one is right for you? Talk to Asset Plus, with our wealth of expertise in this market we find the right solutions for your individual needs.
You can remortgage at any time, however the key factors to consider before moving your mortgage will be the costs involved and whether you will benefit from moving your mortgage. Just like shopping around for cheaper car insurance, it pays to switch mortgage providers when the special rates end, with the added benefit of being able to release equity if required.
Trawling through comparison websites will give you an insight as to who is offering the best rates at the time you wish to re-mortgage, however, understanding all the upfront costs and knowing if, not only you, but your property will fit into their lending criteria as well as dealing with the legal process, takes time and could incur you unnecessary costs. Let our experts at Asset Plus take the hassle out of remortgaging.
As Independent Mortgage Brokers we can access the whole of the market, matching your individual needs with the loans on offer.
What our customers say…
I was a little apprehensive about remortgage
Paul Tubb was extremely knowledgeable, professional and listened to what we were looking for. I can’t recommend enough, he put us at ease and with his help we now have peace of mind and solid plan we can see laid out .