The Mortgage Works Remortgage
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The Mortgage Works remortgage offers common-sense deals to homeowners unable to certify their income. Finance is based on net disposable income, which offers a true picture of what you can afford. A smaller range of products is available for those seeking an adverse credit or buy-to-let remortgage. Many packages include free valuations and a cashback option.
The Mortgage Works Review
The Mortgage Works is a subsidiary of Nationwide Building Society, which is the largest building society in the UK, dating back to the founding of the Provident Union Building Society in 1846. The Mortgage Works range of specialist products is available through professional mortgage intermediaries
The Mortgage Works remortgage deals listed above could help you to:
- Release a cash lump sum at the beginning of the policy for home improvements or new furniture
- Choose whether to pay off the loan as combined capital-and-interest, or just to pay the interest which accrues until the end of the term
- Repay up to 10% of the total capital annually, without incurring charges
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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