Remortgaging Explained – The 5 Main Benefits to Remortgaging Your House

Remortgaging your house offers a variety of benefits, not least the chance to save money or free up finances for something that you want or need to do. Let’s take a look at the top five advantages of allowing the experts at Crystal Clear to help you find the perfect new mortgage for you.

Pay Off Your Mortgage Quicker

One of the main reasons to remortgage your house is to allow you to reduce the term of your loan and pay it off quicker. This may be important to you if you have future plans that would benefit from you being debt-free and having more financial freedom.

Borrow More Money

If you have plans to renovate your house, want to create a new outside space or simply want a sum of money to help your children out, remortgaging your house could allow you to borrow more. Thanks to years of mortgage experience and a commitment to serving you and not the lenders, Crystal Clear is perfectly placed to offer you advice on this and help you to find the perfect product if it turns out to be a good move for you.

Consolidate Debts

One of the major benefits of remortgaging your house is giving you the opportunity to consolidate any existing debts. With the right advice from the advisors at Crystal Clear, this can have the potential to save you money and make financial planning much easier. Instead of having to keep track of multiple debts – and multiple interest rates – you could have a single, easy-to-manage mortgage.

Lower The LTV On Your Mortgage

Choosing the right product is key to seeing the real benefits of remortgaging your house, especially when it comes to maximising the potential of lowering the loan-to-value ratio on your mortgage. LTV may seem like a difficult concept to grasp and, if you are at all unsure, it can really pay to seek proper professional mortgage advice and make sure that you get the intricacies of remortgaging explained to you.

Reduce Your Monthly Payments

If you have finished a period where the interest rate on your mortgage was fixed or discounted, you will have been moved to your lender’s Standard Variable Rate or SVR. This move is likely to result in you paying more than you have been. The helpful advisers at Crystal Clear could help you find a different mortgage to lower the rate that is applied to your mortgage and reduce the amount you pay out each month.

For more help and advice on remortgaging and what exactly you could stand to gain from going ahead, one of our team will be happy to talk you through the process. Just give us a call and we’ll get started.

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