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remortgage explained uk

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Remortgage explained uk

In this video I provide the process of a remortgage, the options available to you and the steps you should take before your mortgage rate is due to expire.

**** Show Notes, and Resources ****

Remortgage explained uk
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When your 2, 3, or 5 year fixed rate / tracker is due to expire, you will need to choose a new mortgage product. This is known as a remortgage.

WARNING – If you do not remortgage in time and you let your mortgage product expire, your mortgage rate will go onto the lenders SVR (Standard Variable Rate), which usually will result with increased payments!

Remortgaging in time will stop this happening. If you have not remortgaged before, you may not know this is the case!

However there are some vital steps to take before your remortgage is due and before your mortgage product expires.

- Get the ball rolling 5 months before your product expires (You do not want to leave this too late with your monthly payments shooting up!)
- See what your current lender can offer you by requesting “product transfer” rates. A product transfer is more convenient than a remortgage as you do not need to use solicitors or have a survey. However, always go for the option which is best financially
- Make sure your circumstances haven’t changed too much otherwise this could effect your application

By looking at your options and getting the ball rolling earlier means should you meet any hurdles along the way, you have more time to overcome them, giving enough time before your payments go onto the lenders variable rate and potentially increase.

If you would like a free no obligation remortgage review, please book direct in my diary and select the “mortgage review” option. Link here -

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**** About This Video **** In this video Alex Kerr from Mortgage Chain, who specialises in mortgages for first time buyers discusses remortgaging for the first time.

email: [email protected]

Contact: 03333 44 68 69

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⚡QUESTION OF THE DAY: Is your mortgage renewal coming up soon ? LMK! 👇👇👇

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE


#remortgage #remortgaging #alexkerrmortgage

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