UK Remortgage
Remortgages
Remortgaging means switching your current mortgage for a new better mortgage or raising additional finance by releasing the equity contained in your property. You therefore end your existing mortgage and switch to a new scheme. By using a broker this involves switching lenders.
A remortgage for the self employed can be a way of saving money, but it can also be a great way to raise money. Mortgages are one of the cheapest available loans with low interest rates. Remortgaging makes sense if you want to raise cash.
If the market value of your property is greater than the outstanding mortgage then you have positive equity, and you can possibly increase the size of your mortgage and release the positive equity. Most UK properties have increased in value over the last 10 years providing lucky homeowners with positive equity. You could remortgage and release your positive equity for many reasons including debt consolidation.
If you are a self employed homeowner looking into remortgages
you will probably already realise there are many pitfalls in your way. One of
the most common obstacles self employed people face is the fact that they can
not prove their income. This can make it very difficult to get accepted by many
providers. Fortunately some lenders have devised remortgages specifically for
the self employed. These remortgages are known as self certificate mortgages.
For more information on remortgages or to apply for a remortgage please follow the link - Remortgages
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- World of Mortgages is authorised and regulated by the Financial Services Authority. Our FSA registration number is 430499. The FSA do not regulate certain mortgages. The advice and/or guidance contained within this site is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK
- We charge a fee usually 2% of the loan amount.
- Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured on it.