Vincent Bond

I've only been with Vincent Bond a short time, but in that time I can only praise the fantastic work of Karrie. She is sympathetic without being condescending and is extremely punctual in getting back to me. She has always kept me informed of my case by either telephone, email or text, which is really handy. Every payment date I get an email to state that's funds have been received. I have no hesitation in recommending this company based on Karries dedication and hardwork.

What is Remortgaging?

"The process of paying off one mortgage with the proceeds from a new mortgage in order to release capital, or reduce monthly payments."

Owning a home can put you in a strong position when you are in debt as the home itself is an asset which can generate a lump sum of money.

Thanks to the dramatic rise in house prices over the last few years, the chances are that the value will have increased significantly. The current market value of your home or investment directly affects the deals available to you.

Is it right for me?

You may take a new mortgage to get a better interest rate and therefore reduce the payments you make monthly. The extra money available per month can mean that people have enough money to manage their debts.
You may take a new mortgage to pay off the existing one and release a lump sum of money on top. This lump sum can be used to pay off all or part of your debts.

Remember, if you switch lenders, the saving you make on the interest rate you pay may be partially or wholly eaten up by the transaction charges associated with moving your loan.

To find out if this is right for you need to find out:

The current value of your home – this can be from an estate agent valuing your home for sale Instant current valuations are available from Mouseprice.com. This valuation is not a substitute for a RICS registered surveyor who would visit and re-value your property in the event of remortgaging but they are a very accurate valuation.
Your outstanding mortgage – You need to find out from your current mortgage company how much you still owe. This goes for any secured loans you have on the property whether they are with your mortgage company or another company.
Interest rate penalties? – If you have been in a fixed rate you may have to pay a penalty if you leave that mortgage early. You should ask your mortgage company if there are any penalties for leaving the mortgage early – this is usually a %, but they should be able to tell you an approximate amount.
Your income details – you should have an idea of how much you (and your partner) earn as this can effect how much you can borrow.

What will a Remortgage cost?

The costs involved with a remortgage are usually added to your new mortgage, so you will pay no up front fees to either us or your new mortgage company.
There are fees involved and these are outlined in the paperwork you receive when you get a mortgage offer.
It is sometimes more expensive than a normal mortgage because people in debt are a higher risk and therefore the rates and fees are sometimes a little higher. Also there is more work involved in arranging a sub prime mortgage.
Remember – your advisor at Vincent Bond will explain all this to you and ensure that any offers made are affordable and part of an overall solution.

Why get a Remortgage through Vincent Bond?

Vincent Bond works with a range of specialist mortgage lenders who provide good products for people in debt. In the industry this is called sub prime or adverse lending.

It is important to find a mortgage that is suitable for a client’s specific needs. Indeed often we assess how much client’s can afford and try to shape the solution around that. That way the client’s are left with a solution that is affordable long term.

It is important that you are aware of the following when taking on any debt solution with Vincent Bond & Co: All possible solutions should be considered to ensure you make an informed choice. Fees will be charged if a solution is taken. Stopping payments to your creditors may place you into further arrears. It is likely that your ability to get credit will be affected. In compliance with the Consumer Credit Act you have a 14 day cooling off period in which to cancel your plan. Calls to our free phone number may be charged from mobiles and other networks.