Remortgaging

40% of all homeowners in the UK are languishing on their respective lenders' standard variable rate. That means that 40% of all homeowners in the UK are potentially losing out on some serious savings.

For example:

A homeowner with an existing mortgage of £220,000, currently sitting on a standard variable rate (SVR) of 6.5%, would be paying £1,191 per month on an interest only mortgage.

If that same homeowner switched to one of the remortgage packages offering a two year fixed rate of 4.49%, the monthly interest payments would be £823.

A monthly saving of £368, and over the two years a staggering £8,800.

Lets keep this simple. Remortgaging involves switching your current mortgage to a new deal with a new lender. In today's competitive market there are many packages and new rates on offer which borrowers can take advantage of.

LPR Mortgage Services works with its clients to constantly review the mortgage market on an ongoing basis, so that each client always has the best mortgage to suit their individual needs.

Why Should I Remortgage?

• To save money
• To repay your mortgage early
• To raise money
• To avoid moving home
• To consolidate debt

To save money

If you are currently paying the standard variable rate with your lender, or are coming to the end of a special rate, you could find that a lower rate of interest is on offer with other lenders. By renegotiating the rate, you could have lower monthly payments.

To repay your mortgage early

Nobody actually wants a mortgage, and the quicker you can be rid of it, the more time you can spend financing the things that you really do want. Family holiday, new car, time on the golf course etc. By clever mortgage refinancing onto a lower rate of interest whilst maintaining the same monthly payments that you have been used to, you could potentially knock years off your mortgage term.

To raise money

If you wish to raise money for home improvements or other purchases then refinancing your mortage can often be a cheaper alternative to taking out a personal loan.

To avoid moving home

It can be cheaper to modernise or adapt your own home via a remortgage, than it is to move house altogether.

To consolidate debts

Remortgaging can allow you to release some of the equity you hold in your own home in order to pay off other debts, such as car loans and credit cards. The rate on remortgage packages can be considerably less than those ofTo find out how we can help you with your remortgage arrangements, then call LPR Mortgage Services on 01788 521544. a card or personal loan. However you should consider the risks of moving unsecured debt into secured debt and the increased repayment period.

To find out how we can help you with your mortgage refinancing arrangements, then call LPR Mortgage Services, Rugby on 01788 521544.

Remortgage The Easy Way

As time goes by your circumstances change and your financial needs change. By utilising one of LPR Mortgage Services remortgage packages you can benefit from the many special features on offer with various lenders:

• Free valuation
• Free legal costs
• Flexibility
• Over/Under payment facilities
• Payment holidays
• Daily interest

Contact us on info@lprmortgages.co.uk to see how you can save money with our remortgage packages.

Some Things To Consider Before You Change Your Mortgage

Early repayment charges - Your mortgage might have one, especially in the early years. They can be hefty if you are still in the period of a special deal mortgage, such as a discounted or a fixed rate.

Other charges - Even if there are no early repayment charges, your lender might have an administration charge and if you are switching to a new lender, your home will need to be valued and there may be legal costs to pay.