Scarborough Remortgage

Scarborough remortgages are no longer available to new customers, but you can access a full remortgage range from Skipton Building Society. A Scarborough remortgage combines competitive fixed-rate and tracker products with a flexible approach to repayments. Choose a setup to suit your lifestyle, whether you’d prefer to receive assistance with valuation costs or a cashback lump sum upon completion. All Scarborough remortgage customers also benefit from a fee-free conveyancing service.

Scarborough Review

Scarborough Building Society was established in 1848, and offered credit cards, insurance, mortgage and savings services through 9 branches in the North East region.

Scarborough Building Society was a member of the Scarborough Group, which also comprises Scarborough Mortgage Services, Scarborough Specialist Mortgages and North Yorkshire Mortgages Ltd. In 2009 Scarborough Building Society became part of Skipton Building Society.

The Scarborough Building Society deals above could help you to:

• Make overpayments of up to 15% of the original advance per year, with the ability to ‘draw down’ on the extra money as required
• Release equity in your home to invest in home improvements or school fees
• Switch to another fixed-rate policy at any time once the remortgage is set up

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.