Remortgaging is the process of moving your current mortgage from one lender to another and does not usually involve moving home or taking out a second mortgage on the property.
Benefits of remortgaging:
Potential to reduce overall monthly mortgage payments
It can be used to help pay off your mortgage earlier
Raise capital by releasing funds from your mortgage
Change the term of your mortgage (make longer or shorter)
Once you start the remortgaging process, the new lender will do a desk based or physical property valuation so that they can calculate your loan to value (LTV) (the value of the loan you take out and the value of the property as a whole, expressed as a percentage). The LTV ratio determines the mortgage rates available to you.
A remortgage valuation gives you an indication of your home's current market value so you can estimate your LTV and therefore the interest rates that could be available to you.
Use our online remortgage property valuation tool to work out your LTV now.
Your free remortgage property valuation
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YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Embrace Financial Services usually charges a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.