5 potential benefits of remortgaging

If you are looking to free-up extra money to pay for life’s extras, our financial experts explain why now could be the right time to re-mortgage.

If your mortgage rate is coming up for renewal, you could benefit from switching to a new lender with the help of OVISO.

This scenario applies even if your mortgage deal doesn’t end for six months or before. So why not apply to remortgage now and take advantage of the current low rates.

Save Money
Interest rates are the lowest they have been in a generation, so you could save thousands by switching from your current rate to a new one. At OVISO we can help find the best deal for your personal situation.

Shorten your mortgage term
Depending on your monthly budget, there is the possibility of cutting years off your mortgage term. If you can afford it, you could pay your mortgage off earlier than you previously thought possible.

Reduce monthly repayments
Once your mortgage deal has come to an end, you will typically be placed on your lender’s standard variable rate (SVR), which could be higher than the previous mortgage deal you were on.
Switching to a new provider or deal could help reduce monthly repayments as well as gain extra flexibility on your mortgage term.

Gain Incentives
Most remortgage deals have no added fees, with a free valuation and legal package. Some even come with cashback on completion, leaving you with even more cash in your pocket!

Free up extra money
If your mortgage is affordable and there is adequate equity within your property, money can be raised through remortgaging to pay for life’s extras. Maybe you have debts to consolidate or a dream purchase to fund?

Should you wish to remortgage, OVISO are here to guide you at every stage throughout your application. Unlike most banks and building societies, we like to offer a personal touch, giving you access to your own dedicated case handler who will be available to contact from start to finish. Every recommendation is made with your needs put first.

If you would like to learn more, then get in touch today!

Your home may be repossessed if you do not keep up repayments on your mortgage.
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