Life happens
So it’s normal for your circumstances to have changed since you last got a mortgage.
Perhaps you’ve had a credit blip, your employment status has changed, or your relationship has ended.
These things happen to us all at some point in our lives. But it could make remortgaging trickier than you were expecting.
Our common sense approach may help
We don't mind if you're simply looking for a new rate to reduce your repayments, or want to borrow more to complete renovations or consolidate debts.
We don’t just rely on credit scores to make our lending decisions. Instead, we see the person behind the numbers.
All of which means we can often lend when others can’t.
Overall cost for comparison
For example: A mortgage of £85,000 payable over 23 years, initially on a fixed rate for 5 years at 7.12% (and then on a tracker rate for the remaining 18 years at 6.12% above the Bank of England Base Rate) would require 60 monthly payments of £658.14, and 216 monthly payments of £634.89, plus a redemption administration fee of £150.00.
The total amount payable would be £176,773.76, made up of: the loan amount; interest on the loan (£83,213.11); the processing fee (£2,125.00); the arrangement fee (£2,125.00); interest on these fees (£4,160.66); and the redemption administration fee (£150.00).
The overall cost for comparison is 7.7% APRC representative.
The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.
If you want to find out more, get in touch with our team: