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Remortgage Solutions

Moving your home loan to a new lender without actually buying a new home could save you a lot of money and allow you to:

bullet reduce your monthly payments
bullet consolidate loans into one reduced monthly payment
bullet clear mortgage arrears on your property
bullet avoid repossession of your property
bullet release equity in a property you already own, perhaps to pay for an extension or start a business of your own

Your mortgage provider may not offer remortgage facilities to existing client

Quite often the BEST special deals with money-back offers, free surveys and conveyancing are ONLY offered to their NEW clients.

To secure the best deals you will need to shop around. But watch out, there are some potential pitfalls:

bullet 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.
bullet There may be redemption fees and reservation fees demanded by your old and new lenders.
bullet The old lender may charge you a penalty while the new one an arrangement fee.
bullet The new lender will want to value the property just as your old lender once did. So there'll be surveyors fees, not to mention some conveyancing.

So, if you're considering a remortgage, do your sums carefully.

TBM can take all the hard work off your hands. Using years of experience and knowledge of the mortgage market, we will examine your personal circumstances and present your options in a clear and jargon free illustration.

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