Remortgage

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    When you remortgage, you are switching your mortgage to another deal, and frequently, another lender.



    Remortgages can be used for various reasons. However, most people simply switch mortgages because it will work out cheaper for them. For example, the introductory discounted interest rate may have finished with your current lender; therefore you could potentially get a new discount rate, or a lower APR, with another lender. Another example is when you may need to re-mortgage to consolidate debts.



    It is worth noting that a remortgage is not the best option in all cases. Even if the lender you are considering switching to is offering a lower APR, you must take into consideration the facts that:

    • The new lender may charge you for valuation and solicitors fees, even if you have already paid these for your mortgage with your current lender.

    • If you switch mortgage remember to look at the overall repayment period. You may be able to pay less monthly, but check the final repayment date of the mortgage as well.

     

    Also you may be able to switch your mortgage deal with your current lender, avoiding any unnecessary costs. Many lenders will allow you to switch your mortgage deal reasonably frequently.

    Another option for you could be to take a secured loan on your property, please follow the link for further information: Secured Loans 


    THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.  YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

    Securing short term debts against your home could increase the term over which they are paid and therefore increase the overall amount payable

    You may have to pay an early repayment charge to your existing lender if you re-mortgage.

    For all Secured Lending advice, we may charge a fee, the precise amount will depend upon your circumstances, but typically the fee you will pay is £395, please follow the link for further information: How we are paid

    Copyright © 2017 Alpha Independent Mortgages. All Rights Reserved

    Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it

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    We are entered on the Financial Services Register, our registration number is 630147 at  www.fca.org.uk/firms/systems-reporting/register

    Where you have a compliant or dispute with us and we are unable to resolve this to your satisfaction then we are obliged to offer you the Financial Ombudsman Service to help resolve this. Please see the following link for further details:

    http://financial-ombudsman.org.uk/

    Additional information on financial matters can be accessed from: http://www.moneyadviceservice.org.uk/ 

    Alpha Independent Mortgages LLP 118-120 The Hornet, Chichester, West Sussex, PO19 7JR is authorised and regulated by the Financial Conduct Authority.

    Alpha Independent Mortgages LLP is a Limited Liability Partnership. Registered office address 25 Le Marchant Road, Frimley, Camberley, Surrey. GU16 8RN. Registered in England Company Registration no OC309806

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    The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore restricted to consumers based in the UK