When the time comes to re-mortgage, you have two main options: stick with your existing lender or switch to a new one. This decision can significantly impact your financial future, so it’s crucial to explore each option thoroughly. Whether you choose to handle the process yourself or seek assistance from a recommended mortgage broker like Key To Mortgages, making an informed choice is essential.
Existing or New Lender?
- Staying with Your Current Lender Your current lender will likely offer multiple re-mortgage options, some with associated fees and some without. While this may seem convenient, it can also be confusing. It’s important to review all available options and understand the terms and conditions to ensure you make the best choice for your financial situation.
- Switching to a New Lender Switching providers can be more complex and time-consuming. However, this option might save you a significant amount of money in the long run. New lenders may offer more competitive rates or better terms that suit your needs.
Making the Right Choice
Choosing the right re-mortgage option involves evaluating the various deals your current lender offers and comparing them with potential new offers from other lenders. This process can be daunting, as it requires a thorough understanding of the mortgage market and careful consideration of fees, interest rates, and other terms.
The Cost of Convenience
While staying with your current lender might seem easier, it’s worth considering the potential savings from switching lenders. If you’re short on time or find the process overwhelming, engaging a mortgage broker can be a smart move. Brokers can handle the legwork, research the entire market, and help you find the best deal tailored to your needs.
Why Use a Mortgage Broker for Re-mortgaging?
- Professional Expertise At Key To Mortgages, we hold professional qualifications and are authorised and regulated by the Financial Conduct Authority (FCA). This means we have a duty of care to you and must strive to secure the best possible mortgage for your circumstances. Our recommendations are protected by the FCA, ensuring you have a safety net that direct lenders do not provide.
- Comprehensive Market Comparison Unlike lenders who can only offer their own products, we have access to the whole market. This enables us to compare various mortgage deals and ensure you aren’t paying more than necessary.
- Personalised Service We work for you, not the lender. Our goal is to guide you through the entire re-mortgaging process, offering as much or as little assistance as you need. As a trusted mortgage broker based in Bournemouth, we provide face-to-face appointments at times that suit your schedule.
Choosing to re-mortgage is a significant decision that can impact your financial future. Whether you decide to stick with your current lender or switch to a new one, considering professional help can make the process smoother and more beneficial. At Key To Mortgages, we are committed to ensuring you get the best deal possible, tailored to your unique needs and circumstances. Our expertise as a Bournemouth mortgage broker ensures that you receive personalized advice and comprehensive market comparisons to secure the best mortgage deal.
Serving Bournemouth, Christchurch, and Poole
As a leading mortgage broker serving Bournemouth, Christchurch, and Poole, we understand the local market intricacies and can offer tailored advice to meet your specific needs. Whether you are looking for a mortgage adviser in Bournemouth, or need assistance in Christchurch or Poole, Key To Mortgages is here to help. Our in-depth knowledge of the area and dedication to our clients make us the preferred choice for re-mortgaging and other mortgage services.
You may have to pay an early repayment charge to your existing lender if you re-mortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
We offer a free initial mortgage consultation. There may be a fee for arranging your mortgage and the precise amount will depend on your circumstances. We typically charge a fee of £595.00.