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Highly experienced, trusted and professional advisers for mortgages, family protection insurance and home and contents insurance.
INTRODUCTION
OUR GUIDE
WHY FIRSTXTRA?
CALCULATOR
FAQS
Remortage advice
Are you paying too much for your current mortgage, do you require a no obligation review? – worried about interest rate rises, looking to raise money for home improvements or looking to consolidate debt?
If the answer is yes to any of these then Firstxtra financial services could help you find a better remortgage deal. It also can be one of the best money saving actions that you could currently make.
Firstxtra will search our comprehensive range of mortgage providers for you to make sure that you are getting the best advice to remortgage your home. We also have exclusive rates that are only available to certain brokers that you would not be able to get on the high street. Most lenders will now offer free valuation, free basic legal work and if they have an arrangement fee then this can be also added to the loan. There are also many mortgages available with no arrangement fees.
It is always important to review any existing insurance policies when you remortgage your home to make sure that you have the correct policies in place to protect your home and family. We will automatically do this as part of our service.
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GUIDE TO REMORTGAGING
GUIDE TO REMORTGAGING
Why FirstXtra?
Long established family run business
Providing personal, professional and honest advice, putting the customers best interests at the heart of everything we do.
Award winning for Quality and Service
This is shown by the number of 5 star reviews we receive on the independent site Feefo.
We are personable and friendly
We provide a fully individual and bespoke service to each customer and we genuinely care about your experience.
Taking the hassle out of the process
Making it as simple and stress free
as possible for you.
We don’t just do Mortgages!
We also provide you with bespoke family and home protection products.
On hand to contact
We will be there through the life of your mortgage and protection policies with immediate response times.
MORTGAGE PAYMENT CALCULATOR
Found your dream home but not sure if you can afford it?
Find out how much you can expect to pay back with our free mortgage calculator tool.
Simply enter the mortgage amount, your deposit, interest rate and the term of the mortgage and we will calculate the estimated monthly repayments for you based on the information you provide.
- This information is a guide only and should not be relied on as a recommendation or advice, that any particular mortgage is suitable for you.
- All mortgages are subject to the applicant(s) meeting the eligibility criteria of the specific lender.
- You should make an appointment to receive mortgage advice which will based on your needs and circumstances.
SEE HOW FIRSTXTRA
CAN HELP.
REMORTGAGE FAQs
What exactly is re-mortgaging?
Re-mortgaging simply means changing your mortgage from one lender to another to secure a new rate and potentially change the terms of your mortgage.
Is re-mortgaging the best option for me?
If you’ve come to the end of the introductory rate of your mortgage, it’s likely that you’ll be moved automatically to your provider’s standard variable rate which in most cases is higher and therefore your monthly payments could rise.
By re-mortgaging you could secure a better rate, this could mean that we reduce your mortgage term or your monthly costs go down.
You can also borrow extra funds at the time of the re-mortgage to conduct home improvements, add an extension or help with your current finances.
Alternatively, you might be on a great deal with your current provider, in which case it might not make sense not to switch as you could be tied in with charges to come out early.
What should I do first?
We would advise anyone thinking about re-mortgaging to contact us six months before the end of their current term ends to allow plenty of time to find a deal and get their application approved.
We would also check to make sure what your current provider is offering and if they are offering attractive rates we will let you know and will provide a full service and look after this again for you.
How do I get the best deal?
By shopping around, in the same way you would to get a better car insurance or broadband deal. However, by coming to Firstxtra we will do all the hard work for you and find the best mortgage for your needs.
What else do I need to know?
There may be some fees associated with a re-mortgage, these are normally just a lenders arrangement fee , a broker fee and maybe small legal fees. Many lenders now offer to pay the valuation and legal fees as part of the re-mortgage package.
There could also be early exit fees and penalties for leaving your current provider and we can advise whether or not it would be better for you to pay these or wait until they end.
Think carefully before securing other debts against your property. Your property may be repossessed if you do not keep up repayments on your mortgage
Most Buy to Let mortgages are not regulated by the Financial Conduct Authority
Debt consolidation is not always the most suitable option, consolidating debts must be carefully considered. It will usually mean more interest over a longer repayment term and there may also be early repayment penalties on your current mortgage, you should think carefully before securing other debts against your home. There are other ways to manage debt such as free debt advice charities, you can find out more by contacting the Money Advice Service https://www.moneyhelper.org.uk/en these services may be more suitable for you.
