Prospect Tree Mortgages Ltd

Independent remortgage experts

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A remortgage is where you take out a new mortgage on a property you already own – either to replace your existing mortgage, or to borrow money against your property. 

Our mortgage brokers in Kent have a wealth of knowledge and experience and are experts in providing advice that best suits you.  Whether you are looking to find a more competitive interest rate or free up capital, our expert local mortgage brokers are at hand to advise you. 

Once you get in touch, we will work with you to review your current product. We will calculate how much you could borrow as an addition to your existing mortgage as well as calculating how much alternative lenders could offer you.

​Prospect Tree Mortgages assess the entire market to make sure we get you the best possible terms, we offer quality service, discretion and the ability to work complex lending scenarios.

Read on to find our more, or get in touch for specific advice today.

Your current deal is about to end

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​Many of the best mortgages only last a short time – often two to five years – the typical length of time offered on a fixed rate, tracker or discount mortgage.

When it comes to an end, your lender will put you on its Standard Variable Rate (SVR).
It is likely to be higher than your old interest rate and higher than other mortgage products available. If so, you want to be ready to remortgage to a cheaper rate. We would always suggest getting in touch with us three months prior to the end of your fixed rate period.

If your deal is ending soon, get in touch today and see what deals are available.

Case Study

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Best remortgage rates

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Mortgage and remortgage rates change on a daily basis. To speak about the best remortgage rates available to you today book an appointment with one of our remortgage experts. We will help you calculate your maximum loan for your remortgage and advise you on all of the necessary steps.

Tip: you may be able to secure a remortgage rate up to six months early.

You want a better rate

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If you are tied into a fixed rate product then you might have to pay an early repayment charge (2-5% of your outstanding loan) which may not make financial sense.
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This doesn’t mean you shouldn’t consider it as the savings can be substantial. It is best for us to calculate whether it is cheaper to change product or stick with your existing product until it comes to an end.

“It was not an easy re-mortgaging exercise, but Graeme Childs never gave up on us and persevered until he found us the mortgage that we needed”

You worry about interest rates going up

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If like most people you want to make sure you have stability of payments. When you take a fixed rate product you are protected from any fluctuation in interest rates during the fixed period.

Find out what fixed rate mortgage deals are available to you today.

Switch from an interest-only to a repayment mortgage

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You shouldn’t actually need to remortgage to do this, your lender should be happy to make the change for you.

You can even change part of the loan to capital repayment and leave some on your interest-only deal, which is particularly useful for anyone with an underperforming endowment mortgage which is expected to result in a shortfall at the end of the term.

However, it’s a totally different story if you want to change from capital repayment to interest only.

Can I borrow more?

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Remortgaging to a new lender might enable you to raise money cheaply on low rates. But remember to take all the fees into account to see if it really is cheaper than other forms of borrowing.

Our mortgage advisors will help you with all of the calculations, so you can be confident that you are making the right choices.

A lender will want to know what the additional money you want to borrow is for, most reasons are absolutely fine, but many have an issue with borrowing against your residential property for business purposes.

The most commonly acceptable reasons to raise money are for home improvements and paying off other debts. Just be prepared for your lender to ask for evidence if you are borrowing a large amount, e.g. builder quotes, or proof that you have paid off the debts.

Our mortgage brokers in Kent have a wealth of knowledge and experience and are experts in providing advice that best suits you. Whether you are looking to find a more competitive interest rate or free up capital, our expert local mortgage brokers are at hand to advise you. 

Get in touch today and we will help you calculate how much you can borrow on your remortgage.

Find out what you could borrow today.