Whatever you choose, you’ll need to think about your options carefully. It’s best to work with an pro home loan mentor who can look at your options.

Find the correct contract having youOnce you understand how far your can obtain, and what type of home loan we would like to go for, then it is time for you to hunt for a deal.

The mortgage market can be really confusing, so it’s best to work with an pro mortgage broker who can do the leg-work for you. It’s especially important if your situation isn’t straightforward, e.g. if you have poor credit or a state-of-the-art income.

Most brokers charge a fee for their services, but they’ll save you time and money in the long run. Build an enquiry to find out your options.

When it comes to remortgaging, you won’t need to save for another deposit. You can use the equity you already have in your home as a deposit.

Guarantee is the cash difference between how much your home is worth, and how much you have left to pay on your mortgage. Let’s say you sold your house for ?500,000 with ?300,000 still left to pay on your mortgage. Your equity would be ?200,000. You won’t have equity from an interest-only mortgage unless your house has gone up in value.

Will remortgaging affect my personal credit rating?

If done right, remortgaging can be a good way to rebuild your credit history. If you’re using your new mortgage to consolidate debts, you’ll probably find it easier to keep track of your repayments.Seguir leyendo