Cumberland Building Society Remortgage
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Cumberland Building society remortgages provide a range of options depending on your circumstances and requirements – whatever your needs, their remortgage advisers can help you to choose the right deal for you. Compare Cumberland Building Society remortgages to find the best one by using the table below.
Cumberland Building Society Remortgage Review
Since 1859, Cumberland Building Society has been providing its members with competitive financial products – it now provides mortgages, current accounts, savings accounts, loans and insurance. Because of its mutuality, Cumberland can pass on its profits to its customers, and aims to provide great products, service and value.
You can choose from a number of options with Cumberland Building Society remortgages, such as:
- Long term
- Short term
- 2, 3, or 5 year fixed rate
What is a remortgage?
A remortgage is when you replace your existing mortgage with a new one. There are many reasons for remortgaging, but the majority fall into one of the two following categories:
- Remortgaging to save money – If you have a fixed rate mortgage deal, your interest rate will usually switch to the lender’s Standard variable Rate (SVR) which is likely to be higher and will probably mean that you have to pay more each month. By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.
- Remortgaging to raise money – Remortgaging can allow you to release some of the equity in your home. This could be useful if you wanted to carry out repairs to the property, add an extension, help your child with their own mortgage deposit, or consolidate other existing debts.
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