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Lambeth remortgage deals now come under the name of Nationwide, following the takeover of Portman Building Society. But if you were considering a Lambeth remortgage, then similar fixed-rate and tracker products are still available at the same competitive rates.
Lambeth Remortgage Review
Until the 2006 merger with Portman Building Society, Lambeth was the 20th largest building society in the UK. Employing around 130 staff in 9 south London branches, it provided mortgage, insurance and investment services to the local area.
Whilst the majority of Lambeth Building Society branches have been incorporated into the Portman network, offices in Ashford, Brixton, Orpington, Sutton, Tonbridge and Upminster continue to trade under the Lambeth name. The Portman Building Society merged with Nationwide in 2007.
Joining forces with the Portman Building Society could help you to:
- Enjoy greater mortgage flexibility, including the option to make early repayments free of charge
- Release a cash ‘lump sum’ at the beginning of the agreement to pay for home improvements or new furniture
- Consolidate debts from loans and store cards into a single monthly sum
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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