| Q. What is remortgage ?
A remortgage is essentially a switch from your current finance or mortgage plan that lets you get a cheaper rate of interest and more flexible or longer repayment terms. Thus, if you are in danger of defaulting on your current mortgage, remortgage may be a good choice for you. Remortgage is process of moving your mortgage to a new lender.
Q. How much can I get?
There are a various factors which determine how much you can borrow. Anyway the important one is that you can afford to make the monthly repayments. The amount will depend on your income and the equity available in your property. Depending on these factors amounts are available from £5,000 to £500,000.
Q. What is the period of loan?
This will depend on how much you can afford each month but most repayment periods are between 3 and 25 years.
Q. What is the interest rate
We have excellent relationships with many of the top lenders in the country. Some are subsidiaries of the clearing banks. Due to this we have been able to negotiate very competitive terms and are sure we will find a rate to suit your needs.
Q. Is my application confidential?
YES. Your data is highly secured and will be protected.
Q. Are you charging any fees for arranging the loan?
NO.
Q. Is remortgage available for shophouses and factories?
No, only for homeowner
Q. Is the special Fixed Rate applicable to remortgage loans?
Yes. For remortgage, the fixed rate is 6.25% for the first two years (subject to change).
Q. Does the Fixed Rate apply to properties under construction?
Yes
Q. How much can I reduce my monthly payments ?
Reductions in monthly payments can be as much as 75% but this will depend on how much you are paying at the moment and how long you want to make repayments.
Q. Can my repayments be protected if I cannot work?
Optional Payment Protection Plans cover repayments if you can't work due to accident, sickness or involuntary unemployment.
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