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.... Or we can go for broke and knock down the small extension that houses our existing kitchen and loo, and build an extension with kitchen-diner, utility room and office opening on to our large garden, which would cost around £50,000. We owe £96,500 on our mortgage and, as the house is valued at £275,000, we could remortgage to fund either option. ... [Read full article on Guardian ]
Thursday 23rd of February 2017 07:00:00 AM
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Latest Finance News related to Remortgage

Do we need a credit check to find out whether we can remortgage? image
Source : Guardian [Read Article] Thursday 23rd of February 2017 07:00:00 AM
.... Or we can go for broke and knock down the small extension that houses our existing kitchen and loo, and build an extension with kitchen-diner, utility room and office opening on to our large garden, which would cost around £50,000. We owe £96,500 on our mortgage and, as the house is valued at £275,000, we could remortgage to fund either option. ...
Equifax mistake with my credit score nearly lost me a mortgage image
Source : Guardian [Read Article] Tuesday 14th of February 2017 07:00:36 AM
. I have been turned down for a remortgage on my property because of my credit score. ...
Is equity release a good way to pay off your home loan? image
Source : Guardian [Read Article] Saturday 28th of January 2017 07:00:48 AM
.... There is the 55+ Mortgage from retirement specialist Hodge Lifetime which, as the name suggests, is exclusively for over-55s, but isn’t an equity release deal – it’s a standard mortgage where you pay the interest on the loan each month and retain 100% ownership of your property. It’s available for house purchases/remortgages, but can also be used to raise capital – ie, to consolidate existing debts. ...
Your money: Hidden costs behind your financial products image
Source : Daily Express [Read Article] Sunday 22nd of January 2017 12:01:00 AM
.... “Halifax would charge a £355 valuation fee on a £200,000 property purchase, while Nationwide does not charge a fee. Neither lender charges a valuation fee on remortgages,” says Hollingworth, who adds that you should also look out for legal fees, which can add another £350. ...
Mortgage rates are at a record low, now is the time to see if you can get a better deal image
....January is peak time for remortgaging and with rates at a record low you have more incentive than ever to do so. A third of homeowners who define themselves as “just about managing” are looking to remortgage this year, either to free up some monthly income, protect themselves by locking into a fixed rate or simply grab a cheap deal while they last. ...
The couple who made Tiger roar … and millions of pounds in the process image
.... He called Lennart Lajboschitz, Tiger’s founder, and although that premises became a Tesco Express the call led to a concerted effort to find a shop. He found found a site in Basingstoke in 2005, but the key moment came a year later when the couple had to remortgage their house again to open a second shop in Hammersmith, west London. ...
Britons putting away money in anticipation of Brexit slowdown image
Source : Guardian [Read Article] Wednesday 28th of December 2016 11:47:22 AM
....However, there were signs from the BBA report that existing home owners took advantage of the Bank of England’s decision to cut interest rates in August to a record low of 0. 25%, as the number of remortgages approved jumped 14% in November compared with a year earlier. ...
Should we dip into our savings to reduce our mortgage? image
Source : Guardian [Read Article] Thursday 22nd of December 2016 07:00:40 AM
.... However, we are struggling to find a house we like so it may be another year or two before we move. The issue is that we are coming out of our five-year fixed rate on our current mortgage in April and all the numbers suggest that it would be better to remortgage than stay on the lender’s standard rate. ...
Mortgage data points to slowdown in UK housing market in October image
Source : Guardian [Read Article] Wednesday 14th of December 2016 01:43:57 PM
....There was also a fall in the buy-to-let market, where activity has been hit by tax changes. But the lending market was bolstered by the amount of remortgage activity which hit its highest level since January 2009. ...
How a healthy buy-to-let profit could soon become a painful loss image
Source : Guardian [Read Article] Saturday 10th of December 2016 07:00:07 AM
....”. The Bank of England has said that in order to avoid existing borrowers being adversely affected when remortgaging, the new rules won’t apply to buy-to-let remortgages where there is no additional borrowing beyond the amount outstanding under the existing contract. ...
Consumer credit sees fastest growth in 10 years image
Source : Guardian [Read Article] Thursday 24th of November 2016 11:50:14 AM
....The BBA’s seasonally adjusted figures for mortgage lending show that the number of home loans approved for house purchases reached a five-month high in October, at 40,851. The number of remortgages dropped slightly to 24,622 but the number of other loans secured on property rose to 8,847 – its highest since January 2014. ...
Mortgage costs and tax are complicating our move image
Source : Guardian [Read Article] Thursday 24th of November 2016 07:00:27 AM
....My partner bought his rental property in 1998 for £100,000; it has recently been valued at £370,000. He remortgaged the house to pay for a property with his ex-wife, which she was given as part of the divorce settlement. ...
We may have to let our house next year – will that affect our remortgage? image
Source : Guardian [Read Article] Thursday 17th of November 2016 07:00:41 AM
....3%, making our monthly repayments £790. We have made great efforts to make overpayments so that we are in a better position when we remortgage early next year. ...
Mortgage approvals hit three-month high, says Bank of England image
Source : Guardian [Read Article] Monday 31st of October 2016 11:48:59 AM
....The figures suggest the market is starting to pick up after a lull in the immediate aftermath of the EU referendum. The Bank reported an increase in the remortgage market, where borrowers may have decided to make the most of low rates and lock into deals. ...
Time is money: here's how to save some when the clocks go back this weekend image
....You will need: Your last mortgage statement with the balance and rate, recent payslips, P60 and details of your expenditure (you can see this on your current account). You can kick off the application process for a remortgage in just a few minutes, though you will then have to wait for a broker or lender to do their bit. ...
Personal loan war heats up as First Direct raises limit to £50,000 image
Source : Guardian [Read Article] Friday 14th of October 2016 08:53:52 AM
....Other lenders are now expected to follow suit in the increasingly competitive world of personal loans. “It could be that it is used by people who are renting, or by people who are happy to pay more so they don’t have to jump through the hoops to remortgage – however, you have to be one of their customers to apply, so they will know quite a lot about you,” says Andrew Hagger of Moneycomms. ...
Avoid falling into a rate trap image
Source : Daily Express [Read Article] Wednesday 7th of September 2016 04:09:00 PM
....Only trackers are guaranteed to follow the base rate. ” The good news is that rates on new deals have never been lower, makingnow a great time to remortgage. ...
Homeowners saving cash on cheaper mortgage rates following Brexit vote image
Source : Daily Express [Read Article] Tuesday 30th of August 2016 08:18:00 PM
. Two out of three Britons who remortgaged in July did so to secure a lower rate and enjoyed big savings in the process. ...
AA drives into mortgage market with fixed-rate deals image
Source : Guardian [Read Article] Tuesday 23rd of August 2016 06:00:07 AM
....David Hollingworth, of mortgage broker London & Country, agreed that for many borrowers there would be cheaper deals in the market. “The AA is offering no-fee products with free valuation and legal work for remortgage – these look most likely to appeal to those looking to review their current deal, especially those with smaller mortgages looking to switch,” Hollingworth said. ...
Interest rate cut: what now for savers and borrowers? image
Source : Guardian [Read Article] Saturday 13th of August 2016 06:01:18 AM
....Alistair Hargreaves at John Charcol says the base rate has little impact on mortgage rates – more important are swap rates and the Libor. He adds: “It takes six to nine weeks for the remortgage process, and if better rates come out while you are doing that you can switch to a new lender or new rate with the same lender before you complete. ...
Business borrowing falls for first time this year image
Source : Guardian [Read Article] Tuesday 26th of July 2016 10:24:14 AM
....7bn in May. The number of mortgages approved for house purchase – excluding remortgages – fell by about 1,700 to 40,103. ...
First-time buyers half as likely to be single as 20 years ago image
Source : Guardian [Read Article] Thursday 21st of July 2016 11:15:17 AM
....7bn during the month, 16% more than in May and and 3% more than in June 2015. The figure, which includes remortgages and does not take into account repayments, is the highest June figure for eight years. ...
Brexit fallout – what it means for you and your finances image
Source : Guardian [Read Article] Friday 8th of July 2016 08:00:17 AM
.... Some builders are pausing projects while they wait to see what happens to the market – for example, consultancy firm Arcadis said on Thursday that two of its clients had put residential building projects on hold. For anyone looking for money to buy or remortgage, there has been good news. ...
Buy-to-let investors to be ‘locked out’ of market by tougher lending rules image
....“This lending squeeze will only increase the financial barriers to entry to the market, restricting access to only cash buyers or those with hefty deposits, and potentially forcing some existing landlords to sell up. “Highly-leveraged landlords seeking to remortgage could face a nasty shock, if their bank tells them they no longer qualify for the same loan to value mortgage. ...
We need legal advice for our HSBC mortgage but no one will give it image
Source : Guardian [Read Article] Monday 4th of July 2016 06:00:01 AM
. I am in the process of trying to remortgage our family home with HSBC, and have encountered what I consider to be significant practical issues with one of the lending requirements. ...
Brexit: Five changes to your finances image
Source : BBC [Read Article] Monday 27th of June 2016 01:59:54 PM
....If mortgage interest rates follow, then housebuyers and those remortgaging may see the cost of their monthly repayments become a bit cheaper. Rates have been at historically low levels in recent times, but lenders may decide that cheaper rates are needed to tempt what may be a smaller pool of first-time buyers, movers and those looking to remortgage. ...
Five-minute guide to…lowest-ever fixed mortgage rates image
Source : Daily Express [Read Article] Sunday 26th of June 2016 09:28:00 AM
.... . The deal is available to new buyers or existing homeowners who want to remortgage and only need to borrow up to 65 per cent of their property’s value, up to a maximum £500,000. ...
Fixed-rate mortgages 'likely to get even cheaper' after Brexit image
Source : Guardian [Read Article] Friday 24th of June 2016 03:56:39 PM
....95% – and advised those thinking about taking out a fixed deal to “hold off for a week or so and see where the market settles down”. However, he acknowledged that that might be easier for those looking to remortgage than people trying to buy a house right now. ...
Mortgage rates race to the bottom: HSBC launches lowest ever 0.99 per cent loan image
....HSBC has launched the 0. 99 per cent two-year loan to buyers or owners looking to remortgage with equity of at least 35 per cent. ...
Former owner of BHS accused of having his 'fingers in the till' image
Source : Guardian [Read Article] Wednesday 8th of June 2016 07:04:02 PM
....However, Chappell became increasingly riled by MPs as they probed a series of transactions involving Retail Acquisitions, including a £1. 5m loan against his family home that he claimed was used to remortgage the property. ...
Time Out owner hopes flotation will raise £90m to fund expansion image
Source : Guardian [Read Article] Tuesday 31st of May 2016 09:54:20 AM
.... The company has identified sites for food markets in Berlin, London, Miami, New York and Porto. Before Oakley bought its stake Elliott remortgaged his house in St John’s Wood to inject £3m into Time Out, after his bankers, Lloyds, became worried about the company’s debt. ...
Mortgage deals at all-time low but existing customers are STILL being exploited image
....” . Simon Tyler, founder of brokers Tyler Mortgage Management, said homeowners could make large savings if they remortgage from their lender’s SVR and on to a best buy deal. ...
Golden years on the golf course? We should be so lucky… image
Source : Guardian [Read Article] Saturday 14th of May 2016 05:30:01 PM
....“Let’s face it, though; it’s not going to happen, and any suggestions to the contrary are to be treated as irresponsible and wildly optimistic. You’ll be working until you’re 75 and paying off your second remortgage. ...
Martin Lewis: 'Nonsense' rule blocking Britons getting CHEAP mortgages should be stopped image
....Many homeowners who took out loans prior to the financial crisis have found their circumstances now don't meet the more stringent conditions needed to qualify for a mortgage. As a result, these people have been unable to remortgage when their deals have come to an end and are stuck on their lender's pricey Standard Variable Rate (SVR). ...
Is a remortgage or second charge mortgage right for home improvements? image
.... If you take one out, it means you will have two mortgages on your home; the main mortgage will always take precedence over the second home loan. But wouldn’t it be better to just remortgage – or take out a further advance from the same lender – if you need to raise some extra cash?. ...
Thought you were too old to get a mortgage? Now you can have one at 95 image
Source : Guardian [Read Article] Saturday 16th of April 2016 06:00:11 AM
....The offering from Hodge Lifetime – which specialises in equity release and annuities – is currently available through selected mortgage brokers ahead of a wider launch this summer. This is a standard residential mortgage, albeit an “interest-only” one, that’s available for house purchase or remortgage, and which can also be used to fund home improvements or consolidate existing debts. ...
House sales could fall due to stamp duty changes and Brexit risk image
Source : Guardian [Read Article] Wednesday 13th of April 2016 11:01:01 PM
....Related: Buy-to-let lending up 60% ahead of stamp duty changes. Figures from the Council of Mortgage Lenders show that lending to buy-to-let investors was up by almost two-thirds year-on-year in February, as some landlords took advantage of low interest rates to remortgage, while others added to their portfolios ahead of changes to stamp duty rates. ...
Buy-to-let lending up 60% ahead of stamp duty changes image
Source : Guardian [Read Article] Wednesday 13th of April 2016 12:41:23 PM
. Lending to buy-to-let investors rose by almost two-thirds in the 12 months to February, as some landlords took advantage of low interest rates to remortgage, while others added to their portfolios ahead of changes to stamp duty rates. ...
The Crusader: Shocked freeholder finds home value slashed because lease is just 66 years image
. Shocked owner Pamela S, a joint freeholder in a block of five, found this out while she was exploring whether to sell or remortgage. ...
Buy-to-let boom: Landlord lending beats first-time buyers for first time image
Source : Daily Express [Read Article] Thursday 10th of March 2016 05:00:00 PM
.... Jeremy Leaf, a former RICS chairman and north London estate agent, said: "What we are seeing on the ground is people taking advantage of mortgage rates while they are low. "With a relatively low number of transactions taking place, lenders are having to make up their numbers somewhere and are offering a plethora of attractive remortgage deals. ...
Buy-to-let mortgage lending rockets ahead of stamp duty rise image
Source : Guardian [Read Article] Thursday 10th of March 2016 12:40:37 PM
....“What we are seeing on the ground is people taking advantage of mortgage rates while they are low. With a relatively low number of transactions taking place, lenders are having to make up their numbers somewhere and are offering a plethora of attractive remortgage deals. ...
Lowest ever 10-year mortgage launched - should you fix your rate for a DECADE?  image
....Leeds said its 10-year deal is portable, which means that it can be transferred to a new property, though isn't always easy for customers who want to borrow more money or extend the term. It means that anyone who needs to need to repay long-term loan products in order to remortgage will face stinging early repayment charges. ...
Email scam costs couple £25,000 – but no one will help image
Source : Guardian [Read Article] Friday 4th of March 2016 11:53:58 AM
.... Unfortunately, this hasn’t been the case,” says Sarah, a general manager at Universal Music. “This is a life-changing amount that is partly remortgage money and partly life savings. ...
Interest-only 'prisoners' growing as borrowers refused new mortgages image
Source : Daily Express [Read Article] Thursday 25th of February 2016 04:25:00 PM
.... "They simply don’t fit the bill for lenders anymore, as mortgage lenders have imposed much stricter lending criteria on their customers. "This is especially the case among the older generation of borrowers who face reluctance from lenders to extend the term, or remortgage their debt once they reach a certain age, regardless of their financial position. ...
London luxury homebuilder warns of 'challenging' market conditions image
Source : Guardian [Read Article] Wednesday 24th of February 2016 07:30:57 PM
.... The BBA said 80,285 mortgages were approved in January – the highest number for two years. Of these, 47,509 were approved for home purchases, as opposed to remortgages – an increase of 27% on the figure for January 2015. ...
Mortgage approvals 'boosted by stamp duty change' image
Source : Guardian [Read Article] Wednesday 24th of February 2016 11:15:10 AM
....BBA members approved 80,285 mortgages during the month – the highest number for two years. Of these, 47,509 were approved for home purchases, an increase of 27% on the figure for January 2015, while remortgages were up by 42%, at 25,040. ...
'We've got £80,000 in student debt. Can we borrow £100,000 for our first home?' image
.... • Effect of making overpayments on your mortgage . One option may be to buy with a 5pc deposit now, overpay each month using the money they would have put towards a bigger deposit, and then when they remortgage in two years’ time they will own more of the property and will be able to get a cheaper loan. ...
Mortgage lenders hiding TRUE cost of their best buy deals by hiking fees to record high image
....The danger is that borrowers focus on the headline interest rate and then fail to factor in the impact of a large fee on top. Nelson said fees can ramp the cost of a mortgage or remortgage, particularly where cash-strapped borrowers add it to the advance. ...
Big-time losers in the waiting game image
Source : Telegraph [Read Article] Saturday 30th of January 2016 12:19:10 PM
. Mike Jessop and his wife had already remortgaged their house twice in order to fulfil their dream of launching their Moo Free chocolate business. ...
Mortgage approvals slow to seven-month low, as house price growth levels off image
Source : Telegraph [Read Article] Wednesday 27th of January 2016 10:57:02 AM
.... . "Often it is only once rates start rising that homeowners feel an urge to remortgage, and often after two or three rate rises that they actually get round to it," he said. ...
Mapped: how buy-to-let will lose money in 91pc of regions by 2021 image
Source : Telegraph [Read Article] Sunday 10th of January 2016 07:04:00 AM
.... . Some landlords may be able to remortgage to a cheaper loan but with lenders confidence waning as new regulation bites, the assumption here is that they remain with the same deal. ...
Rise in consumer borrowing is fastest since pre-crisis, says Bank of England image
.... However, since then banks have become more willing to lend and a price war on personal loans has seen costs fall to the lowest-ever level. Tougher rules on mortgage borrowing are also likely to have persuaded more borrowers, who would previously have remortgaged their homes to release cash, to instead turn to personal loans. ...
Homeowners feel the force of soaring house prices image
Source : Daily Express [Read Article] Sunday 20th of December 2015 12:00:00 AM
....”. Duncombe says homeowners who would struggle to fund their borrowing costs if rates rise should remortgage to a rock-bottom fixed rate sooner than later: “It is crucial to act now to secure a low rate while they are still available. ...
I want to remortgage the family home to buy my daughter a flat – my worry is tax image
.... At the same time, my wife and I are lucky to have equity available in our family home. I am earning a good salary and my bank has indicated that it would approve a remortgage of £200,000 at a discounted rate. ...
The £1m home bonanza: 600,000 Brits are property millionaires image
Source : Telegraph [Read Article] Thursday 17th of December 2015 05:15:36 AM
.... First-time buyers are the most keen to compare prices across the whole market, with 71pc going through brokers. But veteran buyers are also keen, with 64pc of home movers and 64pc of remortgagers also using brokers. ...
The real-life couple behind Mr & Mrs Smith image
Source : BBC [Read Article] Monday 14th of December 2015 12:00:12 AM
....The idea to call the guidebook Mr & Mrs Smith sprang from the standard naughty weekend pseudonym used by couples as a sign-in ever since hotels kept registers. So convinced were Mr Lohan and Ms Heber-Percy that the idea would work that they approached family and friends, remortgaged their house in west London, and raised £180,000. ...
Beware of this £4,000 mortgage trap hitting ONE MILLION homeowners image
Source : Daily Express [Read Article] Wednesday 9th of December 2015 02:27:00 PM
....Homeowners have been urged to seek out a cheap fix before an interest rate rise which could come to pass in 2016. Ms Nelson added: “Borrowers don’t have to put up with these high costs; mortgage rates are still resting at record lows, which means there has never been a better time toremortgage to a new fixed rate. ...
Mortgage lending hit seven-year high in October image
Source : Guardian [Read Article] Wednesday 25th of November 2015 11:15:34 AM
....Remortgaging was up by 34% year on year, at 24,275 approvals. The BBA said the average value of mortgages approved for house purchases was £175,600, while remortgagers typically borrowed £172,800. ...
Does having a baby late make financial sense? image
Source : Guardian [Read Article] Saturday 21st of November 2015 07:00:07 AM
.... But in a way we haven’t, because we can’t afford a house there, so that’s why we’ve moved. We’ve made enough money on the flat to keep it, remortgage it, rent it and use the money to buy in Kent. ...
Nationwide is gunning for high street banks image
Source : Daily Express [Read Article] Friday 20th of November 2015 08:56:00 PM
....Pre-tax profits rose 34 per cent to £802million. There was a larger increase in remortgage approvals amid prospects for higher interest rates but Beale said house prices should be supported by a “chronic” under-supply of properties for sale. ...
Mortgage lending 'strongest since 2008' image
Source : BBC [Read Article] Thursday 19th of November 2015 11:33:58 AM
.... . House purchase approvals dipped below 70,000 in September, while those for remortgages rose to 41,000. ...
Mortgage lending jumps by a fifth and almost hits pre-crisis peak image
Source : Telegraph [Read Article] Thursday 19th of November 2015 11:30:32 AM
.... Despite the rise in lending, the figures appeared to confirm a general slowdown in the housing market evident in other surveys. While the amount lent went up, house purchase approvals dipped below 70,000, while those for remortgages rose to 41,000. ...
Q&A: Northern Rock mortgage sell-off image
Source : Guardian [Read Article] Friday 13th of November 2015 12:59:01 PM
.... And UKAR will still service the mortgages, so you won’t need to worry about your repayments changing. If you are in a position to remortgage, you might want to consider doing so. ...
Buy-to-let mortgages at highest level since 2007, says CML image
Source : Guardian [Read Article] Wednesday 11th of November 2015 03:20:58 PM
....The CML said that despite the strong growth, buy-to-let remained a minority of its members’ business. Paul Smee, director general of the CML, said: “Buy-to-let continues its growth this period but, at 18% of new lending in September, remains the fourth largest lending type behind first-time buyers, home movers and remortgages. ...
Can we remortgage to pay off the equity loan on our home? image
Source : Guardian [Read Article] Thursday 5th of November 2015 07:00:03 AM
.... MS. A First, you cannot remortgage or take out another loan against the value of your home without the permission of the Scottish government. ...
How homeowners could lose £1,500 by opting for low rate mortgages image
Source : Daily Express [Read Article] Tuesday 27th of October 2015 03:40:00 PM
...."However, large fees can turn what appears to be a cheap deal into a costly one for the majority. “Borrowers choosing a two-year fixed rate, will find the size of the arrangement fee particularly important, as the short-term nature of the deal means that borrowers will have to remortgage relatively soon and could again pay yet another fee. ...
Britain's Buy-To-Let boom gathers pace image
Source : Daily Express [Read Article] Tuesday 13th of October 2015 03:36:00 PM
....1bn. The remortgage sector was also in good health up by 20 per cent year-on-on year to reach £4. ...

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