The Mortgage Business Remortgage
The Mortgage Business is now part of Lloyds Banking Group. It is an intermediary, so The Mortgage Business remortgage range is only available to you if you are a professional mortgage broker.
The Mortgage Business Review
The Mortgage Business is for the use of mortgage intermediaries and other professionals only – their remortgage products cannot be used by the general public directly.
Types of remortgage available could include:
- Prestige remortgages
- Buy to Let remortgages
- Full status remortgages
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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