Switch mortgage to Interest only
Change mortgage to interest only
Remortgage to interest only
Some lenders will let you remortgage to an interest only mortgage without a repayment vehicle in place. In the past an interest only mortgage had to be covered by an ISA, Endowment or pension plans. Many interest only mortgage lenders will let you overpay on your mortgage balance each month by 10%.
Are you looking to remortgage to and interest only mortgage and not sure who to ask for help. Switching your mortgage to interest only is a great short term solution if you are struggling with payments due to illness, unemployment or divorce. As mortgage brokers we have access to the whole of the market.
For many people remortgaging to interest only can be the light at the end of the tunnel if you are struggling under a sea of debt and need to lower your monthly mortgage payments quickly, switching to interest only can be a good option.
Interest only mortgages are available for both employed and self employed, you can also remortgage to interest only with bad credit. For people with CCJ’s, Defaults, late payment or arrears showing on their credit file rates will be higher.
Interest only mortgages rates are the same as for repayment mortgages with fixed rates deals, discount rates and tracker rates available.
For more information on the best interest only mortgage deals in the UK speak to our mortgage advisors today 01202 512340
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Who doesn’t?! If you would like to lower your mortgage payments, or cut the overall cost of your mortgage payment, you’ve probably already found that doing so can be a long winded process. Changing mortgage does not have to be complicated here at J P Financial we take the stress out of remortgaging.
Switch lenders and save money
Are you aware you could considerably reduce your mortgage payments by changing to a new mortgage lender? If your current mortgage is not tied in and you are on your lenders standard variable interest rate, switching lenders with a remortgage could save you thousands of pounds in mortgage repayments over the life of your loan.
Pay less for your mortgage each month
Most people know that the best way to keep your monthly mortgage payment low is to find the cheapest mortgage deal available. What a lot of people are aware of however, is that there are a few other, less obvious ways to keep your mortgage costs low. Avoid paying high valuation fees, legal coast or lenders arrangement fees. Some mortgage lenders will pay the cost of a standard valuation, provide a cash back to wards legal fees.
Remortgage for a better rate of interest
Has your current mortgage lender lost its competitive edge when offering new mortgage deals? If so, remortgaging for a more competitive rate with a new mortgage provider is a great way to save money on your monthly mortgage payments. It is possible you might be paying unnecessary mortgage rates, which over the life time of your loan can cost up to tens of thousands of pounds.
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