Vincent Bond & Co  l  Financial Solutions

0800 567 0056



Services - Remortgage
 
Remortgage 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.

 

 


 

 

 

 
 
 
Request Call Back
Name:
Tel:
Email:



Vincent Bond on the BBC more

Vincent Bond on the BBC more


Award Winning
Find out about our Award Winning Customer Service

Client Feedback
R Miller Feedback:
I was very concerned about joining a debt management program, but once I went through my o ... more
09 March 2010
Julia Simavi Julia Simavi
Debt Advisor,
was rated:

Donna Feedback:
Upon speaking to Julia, I felt an immediate sense of economic direction and a great sense ... more
09 March 2010
Julia Simavi Julia Simavi
Debt Advisor,
was rated:

Alan Feedback:
Spoke to a few debt advisors and Indra was by far the most professional who put me at my e ... more
08 March 2010
Indra Weight Indra Weight
Debt Advisor,
was rated:

Jean Jean-Marie Feedback:
Louise always responds to you as though you are the only person she has to deal with. Very ... more
08 March 2010
Louise Black
Debt Advisor,
was rated:

Kim Larter Feedback:
We have just had our IVA agreed which is a big relief. Our debts got out of control due t ... more
05 March 2010
Keith White Keith White
Debt Advisor,
was rated:

Khan Feedback:
My IVA has just been accepted and I would like to thank Keith White for all his help and s ... more
03 March 2010
Keith White Keith White
Debt Advisor,
was rated:

dan Feedback:
Andy was very helpful and very quick to answer any questions i had via email and phone. i ... more
02 March 2010
Andy Davie Andy Davie
Debt Advisor,
was rated:

Michelle Uden Feedback:
Thanks Andy for your help at a very difficult time. Spoke to Andy for the first time in S ... more
02 March 2010
Andy Davie Andy Davie
Debt Advisor,
was rated:

Kris Feedback:
Louise and I can't thank You and Vincent Bond's associates enough!
Thanks to your supp ... more

01 March 2010
Andy Davie Andy Davie
Debt Advisor,
was rated:

anthony perry Feedback:
I was so grateful that i had someone as professional and as helpful as Tracey working on ... more
28 February 2010
Tracey Best
Debt Advisor,
was rated:

View more feedback
© 2008 Vincent Bond & Co Ltd. All rights reserved
® Company Registration Number: 6391514
® Consumer Credit Licence Number: 610257/2
® Registered under the Data Protection Act 1988