Stroud and Swindon Remortgage
The Stroud and Swindon Building Society merged with the Coventry Building Society in 2010, and no longer offers remortgages to new customers. The Coventry offers a range of fixed-rate and base rate tracker packages, each with built-in flexible features that let you take control of your monthly repayments. Certain products also offer free valuations and discounted legal fees.
Stroud and Swindon Review
The Stroud and Swindon was formed in 1986 by a key merger between Stroud Provident Benefit Building Society and Swindon Permanent Building Society. It is the largest independent society in the South West of England, providing insurance, mortgage and savings services throughout Gloucester, Wiltshire, Somerset and Monmouthshire. The Stroud and Swindon Building Society’s 2006 report recorded assets in excess of £2.7 billion. In 2010 Stroud and Swindon merged with Coventry Building Society.
The Stroud and Swindon remortgage deals in the table above could let you:
- Protect yourself from unwanted interest rate fluctuations
- Enjoy the freedom to overpay up to 20% of the total mortgage capital for a fixed period, and to ‘draw down’ from the extra as required
- Free up capital for a new property, school fees or home improvements
- Consolidate debts under better terms than a 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.
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