For the majority of us, the mortgage is the largest financial commitment, and also the one that is reviewed the least often for cost-effectiveness.
Many contractors and self-employed professionals have been content to let their initial rates expire and ride out the variable rate of their lender, only really reviewing the mortgage when rates start to increase. Many are not aware that rates have already started going up, and complacency can cost a lot of money in interest charges.
Do you want to save money?
At CMME we recommend that you should consider taking advantage of the rates available today before they increase further. One of our experienced consultants can undergo a remortgage review and establish whether a more cost-effective mortgage is available, taking in to account your circumstances as a contractor. They will be able to look at other deals from your current lender, as well as deals from a comprehensive range of other lenders.
If the review shows that you already have the best possible deal, this will be confirmed and your details will be entered into the CMME Pro-Active Mortgage Management System (PAMM), which will alert your consultant when your current deal is due to expire, and whether a better option exists elsewhere. It’s always worth checking your credit report to see what state your financial history is in.
Learn more: Remortgage Savings Calculator
Reasons to remortgage with CMME
- Our mortgage specialists take care of the whole remortgage process by looking at what you are paying with your current lender and then directly comparing this rate with the wider mortgage market, ensuring you get the best fixed or tracker rates available.
- Contractors can often benefit from no application or legal costs and a free valuation.
- If you were to approach a lender direct you may struggle to prove a sufficiently high income to do a contractor remortgage as they will demand to see company accounts or payslips, we can base your affordability on your annualised contract rate alone so you can borrow more.
Our remortgage advisers have helped thousands of clients find a better rate. Whether you want to release capital for home improvements, lower your repayments or fix to ride out the next few years of interest rate uncertainty. Whatever your reason for remortgaging, we will endeavour to help you achieve your goal.
“Our previous mortgage was £330,000 and we had the opportunity to purchase some parking spaces adjacent to our property. We knew we wouldn’t be able to raise these funds in time to meet the 3-month deadline that the owner had given so we called the advisers at CMME and they suggested that we remortgage to raise the capital. Rates have come down so much since we secured our last mortgage two years ago that we have now been able to release £70,000 equity with our remortgage and our repayments are actually £100 less than they were on our previous fixed rate. The advisers have taken care of the entire process for us and have completed the contractor remortgage in time for us to secure the parking spaces so we couldn’t be happier.”
Ready to chat?
Simply fill in the form below and one of our expert team will be in touch to discuss your remortgage.