Monmouthshire Remortgage

Monmouthshire Remortgage

Monmouthshire remortgage packages combine the competitive rates of a mutual organization with a range of added incentives for homeowners. All discounted, fixed-rate and tracker products profit from waived arrangement and valuation fees, and no higher lending charges. Customers can also choose free legal fees or a cashback alternative.

Monmouthshire Review

Monmouthshire Building Society was founded in 1869 to meet the needs of the Newport community. Today, its network of branches and agency offices lines the M4 corridor from Lydney to Swansea. The society provides investment, mortgage and savings services to its members, and holds assets of £485 million.

A Monmouthshire remortgage could be a great way to:

• Reduce your monthly repayments with a lower interest rate in the early years of the policy
• Release a cash lump sum for a home extension or renovations – these can increase the value of your property and remove the need to move
• Consolidate existing debts from cards and loans

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.