Saffron Walden Remortgage
The Saffron Walden Herts & Essex Building Society was renamed Saffron Building Society in 2006, but the company still offers the same Saffron Walden remortgage products. Benefits range from free legal work to valuation fee refunds, and there’s even a package with 0% interest for the first 6 months – helping you find your feet after a major life change.
Saffron Walden Review
The Saffron Building Society delivers investment, mortgage and savings products to 90,000 customers in the South East of England. Established in 1847, it currently holds assets of over £1,000 million in its 12 branches and network of agencies.
A remortgage with the Saffron Building Society could let you:
- Reduce monthly repayments with a lower rate in the early years of the policy
- Free up capital for home improvements or an extension – these can potentially increase the value, size and rental income of a property
- Choose whether to make capital-and-interest or interest-only repayments throughout the term of the mortgage
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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