Your Remortgage Solutions are able to offer mortgages from £5,000 up to £3,000,000. The actual amount available to you will depend upon your personal circumstances but we are able to arrange remortgages up to 85% of the current value of your home and as high as 95% if you are purchasing a new home.
For a straight forward remortgage it can take as little as 10 days to complete. This timescale may vary if there are complexities or non-typical situations but generally speaking it should be no more than 28 days. Whatever happens we will work very hard to ensure that Your Remortgage Solution is achieved within your desired timescales.
This can depend on various factors such as whether you are taking an interest only or capital repayment mortgage, how long you want the mortgage over (the term), what percentage of the value of your property you wish to borrow and whether you have a good credit record. One of the first things we will do at your remortgage solution is talk to you about what you need and what you are looking to achieve with a mortgage. We are happy to give you as many quotes over as many different terms as you wish and we can do this in your first call with one of our experienced mortgage officers.
A mortgage is a loan that is made up of the original loan sum (capital) and the interest charged by the lender on that loan sum. If you choose a capital repayment mortgage then each monthly payment you make during the course of the mortgage will be made up partly of interest and partly of capital repayment. This monthly payment is calculated so that by the time the mortgage ends you will have paid back the whole amount of the loan. If you choose an interest only mortgage then each month you will pay only the interest charged on the outstanding loan balance. With this method, the original loan or capital is not paid off by your monthly payments and so at the end of the term (length of the mortgage), you will still owe the whole amount of the original loan. Whilst it is not generally a condition of the mortgage, most people who opt for an interest only mortgage look to have some form of investment running alongside the mortgage that will mature at around the same time as the mortgage ends and pay out enough to clear the mortgage balance. If you wish to investigate which investments may be suitable for this purpose then you should consult with a specialist independent financial adviser.
Unfortunately, no one has a crystal ball to predict exactly what will happen to interest rates over the coming months and years. However, rates are currently at their lowest level ever so when they do move, chances are they are likely to rise. Mortgages are linked to either the bank of England base rate or something called LIBOR (less commonly used but meaning the London inter bank offer rate – the rate at which banks lend each other money). A more cautious borrower would perhaps look at opting for a fixed rate mortgage where the interest rate and monthly mortgage payment remain the same over a set number of years. A more adventurous borrower may be attracted to taking advantage of the currently low rates and hedge their bets on interest rates remaining low over the longer term. Whatever type of borrower you are, the team at Your Remortgage Solutions can give you all the information you need to help you decide which is the best remortgage for you.
With interest rates at their lowest ever, there is no time like the present to start looking for a new mortgage deal. Remortgages can be completed as quickly as 10 days and offers typically stay valid for up to 6 months. We suggest however that to be on the safe side, you contact us at least 30 days before you need to complete. If your fixed or discounted rate period has already expired then get in contact immediately and see what we have to offer. If you are approved and decide to proceed then we will process your mortgage as fast as we can.
Apart from our genuine desire to help people get the remortgage solutions they want and need and our wealth of experience in doing this, Your Remortgage Solutions is directly authorised by the Financial Services Authority (FSA). FSA Number 514825. The FSA is the government body responsible for regulating the residential mortgage industry. To retain our regulated status, we as a business must abide by strict regulations and guidelines laid down by the FSA. We are closely monitored as part of this regulated regime which is designed to make sure that we are doing our job properly and that you as a customer are always treated fairly.
For added peace of mind, please feel free to check out our authorised status at the Financial Services Authority by clicking on this link www.fsa.gov.uk/register/firmSearchForm.do and either entering our FSA reference number 514825 or our company name, Your Finance Today Limited in the relevant boxes.
Yes you can. Our experience shows that the most common uses are listed below but don’t worry if your reason for needing funds does not appear, you can use the money for anything you want to.
- Paying off expensive loans or credit cards and reducing monthly outgoings
- Improving your existing home e.g. extension or conservatory
- Buying a new car
- Paying for a special event e.g. a wedding
- Paying school fees
- Purchasing another property
- Investing in a new business venture
