J P Financial Mortgage Brokers -

Are you looking to remortgage and would like some information, there are four main points to consider when you look for a new remortgage deal. They are all equally as important and will determine the amount of lenders available to you and the interest rates that you could be paying.

Equity /Loan to value

All lenders look at home cash you are going to put into the deal to determine how much they are prepared to lender you. The more equity you have the better the interest rate will be and more lenders will be competing for your business. If you have a high loan to value mortgage, do not worry there are still lenders available.  But you will be restricted if you cannot meet the other requirements set out by the mortgage lenders.

Credit Score

Credit score is always important be it applying for a new credit card, personal loan or mobile phone contract. All lenders will run a credit check and each have their own system as to who they will accept. Bad credit mortgages are available and due to lenders constantly changing it would be wise to speak with our bad credit mortgage brokers for the latest rates.

Income

There are various ways you can prove your income and many people worry that they may not be able to prove all of their income with pay slips. Depending on the amount of equity you have and your credit score, it is possible to apply for a new mortgage without providing payslips or proving your income.

Interest rates.

With a new mortgage the question always comes up, do you fix or take a variable rate mortgage, there are always pros and cons to both types of mortgages. As for which way rates will move you will need a crystal ball and is not something we advise on but we can help you with your decision making.

For more information on the latest remortgage deals in the UK Click Here and enter your details to request a call back from our FSA regulated mortgage advisors. Or alternatively call 01202 512340 to discuss your mortgage requirements now.