Many clients have been content to let their initial fixed, tracker or discount product rate expire and move on to the lender’s SVR, only really reviewing the mortgage when rates start to increase. This contractor remortgage guide could make your options more clear.
The option to remortgage may provide a better solution; rather than paying the standard variable rate of your current lender.
There are many reasons contractors, business owners and independent professionals may want to remortgage. The mortgage market is ever-changing, and it could be that you’re paying a higher rate than you need to. The original low-interest rate you took out may have changed and now a different mortgage cost could leave you out of pocket.
A mortgage review will look at what you’re currently paying and run a comparison against what else is out there in the mortgage market.
Could you save through remortgage? Or raise additional funds for debt consolidation or home improvements? Try our remortgage savings calculator to see how much you could potentially save.
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