Capital Raising: This is where people choose to free up some extra money by borrowing a higher amount on their mortgage than what is currently outstanding. Some of the reasons why people choose to capital raise are listed below:

• to fund home improvements
• debt consolidation
• purchasing large items such as cars or holidays
• helping a child or grandchild with a deposit for their own house purchase or university fees
• weddings
• to raise funds to purchase a new property such as a buy to let investment

If you were to stay with the same lender for the duration of your mortgage, then it is highly likely that you will be paying back a lot more money than you need too. This is because you can often save lots of money each time your existing mortgage deal is coming to an end by switching to a new lender who is offering a better interest rate to attract you to them as a new customer.

The deals you get offered as existing customers compared to new customers tend to be more expensive. (unfair we know!) This is why it is very important you speak with our highly qualified advisors who can not only look to save you money on your mortgage payments but also look to review the term of the mortgage to suit your everchanging circumstances.

If you are currently tied in to a fixed rate or tracker rate with your current mortgage lender, then there will often be early repayment charges payable if you choose to remortgage before the expiry date of the current deal. This is why the most common time to remortgage is when the fixed or tracker rate on your mortgage is coming to an end. The new mortgage will start the day after your current deal expires ensuring that you do not have to pay any early repayment charges. We always recommend contacting your existing mortgage lender or locating your most recent mortgage statement to make sure you are aware of any early repayment charges.