Melton Mowbray Remortgage

Melton Mowbray Remortgage

Melton Mowbray remortgage deals offer a range of fixed-rate, variable and base rate tracker packages to homeowners in the East Midlands. Arrangement fees are waived on some packages, whilst incentives for those remortgaging locally include 95% Loan To Value for properties within a 50-mile radius of central Melton Mowbray.

Melton Mowbray Review

Melton Mowbray Building Society was incorporated in 1875 to provide mortgages, savings schemes and personal financial advice to members in the local area. It has since grown to 4 branches and 8 agency offices, with combined assets of £385 million.

The Melton formed its own charitable foundation in 1998, with a focus on promoting and supporting local charitable and community activities.

A Melton remortgage from the table above could help you to:

• Find a lower interest rate, greatly reducing your monthly repayments
• Protect your mortgage from unwanted changes in interest
• Release equity for home improvements or an extension, under better terms than an unsecured loan for the purpose

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.