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Professional remortgages

Remortgaging is one of the most effective ways to; reduce your monthly repayments, release equity from your property, adjust your monthly repayments to potentially pay off your mortgage faster, or for a variety of personal reasons.

Being a busy professional it could feel like a chore to move your mortgage to another lender, but the benefits to you could outweigh the hassle, and at Mortgages for Professionals we will do everything we can to make the process as easy and painless for you.

But why go through the hassle?

Chances are, when you took out your mortgage you chose a low introductory offer like a 2, 3 or 5 year fixed rate. Once the product ends you will revert to the lender’s Standard Variable Rate, which is more expensive than your initial rate.

So unless you are willing to pay a lot more for your mortgage you will need to consider switching to a new product with your existing lender or moving to a new lender. New lenders tend to offer cheaper introductory products then existing lenders so by contacting us, and if you plan it right, your new mortgage with your new lender should begin when your current deal expires.

Also new lenders offer a lot of incentives for remortgage business so the likelihood is that you will receive a free valuation and free legal costs if you decide to switch to a new lender.

Remortgaging is also an opportunity to borrow more money, perhaps for home improvement, school / university fees or helping a dependant with a gifted deposit.

You can approach your existing lender for the additional money but the likelihood is that you will already be within a product and you will end up having a product mismatch. This means that you will have two products, two end dates and you may have to pay two product fees to switch every time you fall into the Standard Variable Rate.

So if you plan you can save yourself a lot of money by considering what your future plans are, so instead of borrowing more from your existing lender, we can move you to a new lender. One of our advisers will guide you through the process and assess your needs today and in the future to give you the best advice and to save you money.

Our advisers can also help you pay back your mortgage quicker. As you progress with your career, your circumstances will change and you will be earning more. So you could take the opportunity when you remortgage to pick a more suitable product or reduce the mortgage term to pay back the mortgage faster. Our advisers will discuss this with you and introduce you to all the different mortgage products available; flexi products, offset products etc.

So how can you remortgage?

Step 1:

Get a valuation on your home to find out its current value.

Step 2:

Contact your current lender and find out your mortgage balance, when your product ends and what term you have left to pay on the mortgage.

Step 3:

Consider your requirements and future plans. You might want to borrow additional cash in the near future and go for a 2 year fixed or you may want to move in the near future and you might want a penalty free product.

Step 4:

Get some advice. One of our mortgage advisers can assess and discuss your circumstances and recommend a mortgage for you.

Step 5:

Apply. When you’ve found a deal you’re happy with, it’s time to apply and at Mortgages for Professionals we will make that as easy as possible for you.

Contact us today and meet your adviser to start your remortgage journey

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Your details will only to used to contact you back or not sold or passed on to any third parties. Please note that MFP only deal with mortgages for those who earn £50,000 per annum and are either UK residents or have a right to live and work here