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Vernon remortgage solutions for homeowners in the North West offer discounted, fixed-rate and flexible packages with competitive interest rates. They do not use credit scores – which means you may be eligible even if you’ve been rejected by high street lenders. Customers enjoy free basic valuations and no higher lending charges up to 90% LTV.
Vernon Building Society was founded in 1924 at Stockport, Cheshire with the aim of providing competitive investment, property finance and savings services to its members.
Today, Vernon Building Society is comprised of the original Stockport head office and 6 additional branches at Bramhall, Edgeley, Hazel Grove, Marple, Poynton and Reddish.
A Vernon remortgage could also let you:
- Make up to 10% capital repayments per annum without incurring early repayment charges
- Reduce your monthly bills with a lower interest rate or better terms
- Consolidate credit card and loan debts, leading to smaller servicing payments
- Release equity for home improvements or a family car
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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