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Re-Mortgage Advice & Services

If your existing mortgage deal is due to expire in the next few months and you would like a better deal, our Bristol and South West-based Mortgage Advisers can help you.

Looking for a better mortgage or want to release equity from your home?

Contact our Bristol remortgage experts today.

At Elite, we offer a comprehensive ‘Whole of Market’ service, comparing rates from all lenders to find your ideal remortgage.

We’ll review your current mortgage terms to see if you’re locked in or face early repayment fees to give the best advice based on your situation. Then, you’ll be able to choose: switch to a new rate or wait until any early repayment charges have expired.

If you decide to go ahead with a remortgage, we will advise you of the options that are available to you. Typically, there are four types of mortgage that you can choose from:

Fixed rate schemes

Ideal for people who want to know exactly how much to account for their mortgage payments each month.

Discounted Loans

Offer a reduction off the standard variable rate for a set period. The amount you pay each month will rise and fall with interest rates.

Capped-rate Loan

Sets a limit on the rate you will pay. If rates rise, your payments will not go above that level but if rates fall below the cap so will your repayments.

Flexible Mortgages

Allow you to overpay and underpay without penalty. This is ideal for people who have fluctuating incomes or who want to clear their mortgage early. Terms will apply to each deal.

Discover better mortgage deals with Elite Financial Consulting Ltd.

Your questions answered…

Recent market figures show a significant surge in remortgaging activity, with borrowers seeking to lock into fixed-rate deals as interest rates rise.

Our expert advisers at Elite are often asked what remortgaging involves and whether or not it’s a good idea.

We’d love to help you to understand more in person, so please don’t hesitate to get in touch for a chat. For now though, let’s take a look at exactly what remortgaging is, why more people are doing it, and whether or not it might be a good idea for you.

Is remortgaging a good idea?

Recent market figures show a significant surge in remortgaging activity, with borrowers seeking to lock into fixed-rate deals as interest rates rise.

Our expert advisors at Elite are often asked what remortgaging involves and whether or not it’s a good idea.

We’d love to help you to understand more in person, so please don’t hesitate to get in touch for a chat. For now though, let’s take a look at exactly what remortgaging is, why more people are doing it, and whether or not it might be a good idea for you.

What is remortgaging?

Remortgaging is simply the process of switching your existing mortgage to a new lender and deal. As part of this process, you might also decide to increase the size of the loan.

Why are more people remortgaging?

The recent increase in remortgaging activity has been triggered by continual rises in interest rates.

These rises have already had an impact for borrowers on base rate tracker mortgages, and new fixed rate deals have taken account of the rising rate too.

All of this has meant that an increasing number of homeowners have been switching to longer term fixed rate mortgages. In doing so they are making a bid for more stability going forward, as interest rates on mortgages will generally increase along with the Bank rate.

Some borrowers are also using the opportunity of remortgaging to raise extra cash, for example to finance home improvements.

Why have interest rates risen?

The interest rate rise is a reaction to soaring inflation and an escalating cost of living crisis. Those increases are a result of many complex factors. In the past year, these include the war in Ukraine, which has had a direct impact on petrol prices and the cost of everyday items, and continued disruption due to the COVID-19 pandemic.

Raising interest rates is one way to keep inflation and price rises under control, as it slows down the amount of cash entering the economy. When people are spending less, borrowing less and saving more, inflation decreases.

Is remortgaging a good idea?

Remortgaging to lock into a fixed-rate deal can certainly be a good idea. Depending on your personal circumstances, securing a lower fixed rate deal now can often make a lot of sense.

However, it’s worth bearing in mind that securing the best deal isn’t always as simple as just looking for the lowest fixed rate. Enlisting the help of expert financial advice will ensure that all factors and fees are taken into account in order to determine the true cost of any package.

There are also new trends emerging in the mortgage deals available, for example some lower rates on longer term vs short term deals. This isn’t what you might expect as it’s not what we’ve been used to in the past, so it’s important that you have access to the most up to date advice from someone who really understands the market.

How can we help?

At Elite Financial Consulting in Bristol, we’re keen to help as many people as possible by making sure that our customers have the best mortgages available for their own unique circumstances.

We can help you to decide whether or not remortgaging is a good idea for you, and find the best deal possible if it is. We have access to a comprehensive range of mortgages from across the market and can also review your other financial protection plans, such as life insurance and income protection.

So, even if you’re not sure whether to pursue remortgaging, you can get in touch for a free initial meeting – either at our Bristol offices, by phone, video call, or in your own home. We can help you to understand the best way forward, and there’s no obligation should you decide to stick with your current deal.

We look forward to finding out how we can help you!

Your home may be repossessed if you so not keep up repayments on your mortgage or other loans secured against your property.