Switch to a Better Deal with Ease
Let Prospect Tree help you renew your mortgage today
We understand that homeowners can find the process of remortgaging confusing and stressful. At Prospect Tree, we are here to help you find the best remortgage deal and to make the process as easy and cost-effective as possible. Our team of experts will guide you through the process, saving you time and money, so you can focus on the things that matter most to you.
Why use us?
Comprehensive Mortgage Options
As unbiased experts, we offer you access to the entire mortgage market, providing you with a wide range of choices and flexibility. We can look at mortgages on and off the high-street.
Bespoke and Personalised Advice
We are dedicated to finding you the perfect mortgage solution and will never recommend anything that isn’t right for you. Our expertise and personalised approach ensure you receive the best advice.
Customisable Communication
At Prospect Tree Mortgages, we prioritise your needs and comfort. Whether you prefer phone calls, email, or text, we will communicate with you in the way that suits you best, ensuring a seamless and stress-free experience.
Trusted and Experienced
Our 5-star customer reviews speak for themselves – we have a proven track record of providing efficient, professional, and friendly service. You can trust us to guide you through the mortgage process with confidence and ease.
Find the best rates with Prospect Tree Mortgages
Once again, prospect tree smashed it out of the park, Phil found the best rate for my buy to let in these times where good rates are hard to find. 100% recommend Prospect Tree. I won’t go anywhere else.
Reasons to Remortgage
You worry about interest increasing
These days we find that most of our clients want stability of payments. When you take a fixed rate product you are protected from any fluctuation in interest rates during the fixed period, and whilst longer-term fixed products tend to have a higher interest rate than shorter term fixed-rates, it could make sense to secure your repayments for longer rather than aim for short-term savings.
Switch from an interest-only to a repayment mortgage
You shouldn’t actually need to remortgage to do this, your lender should be happy to make the change for you. Of course this will depend on your circumstances and the lender will want to run an affordability calculation in order to determine whether you can afford the higher repayments.
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.
It’s a totally different story if you want to change from capital repayment to interest only mortgage and if this is your aim then you will need to speak to an expert to find out what your options are.
You would like to borrow more
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 remortgage calculations, so you can be confident that you are making the right choices and fully understand the conditions of your loan.
A lender will want to know why you are remortgaging and 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 accepted 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 once the remortgage has gone through.
Our mortgage brokers in Kent have a wealth of knowledge 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 with your remortgage calculations so you can find out how much you can borrow on your remortgage.
Mortgage Health Check
There are thousands of mortgage products available on the market and this makes it difficult to know where to start. Prospect Tree Mortgages are totally independent mortgage experts based here in the UK. We will search through all of the available products and show you only the ones which are relevant to you and also save you the most amount of money on your remortgage. You can get in touch right now or you can read on to learn more about how to remortgage your home and the opportunity which it presents.
Refinancing your property certainly sounds boring but do you know about all of the opportunities it brings?
What you can do with your remortgage
Now is the time to take a more detailed look at your finances to make sure that they are working as hard for you as you are working for them. In order to help you make the right decision we have produced a jargon free guide which you can use to make sure you get the most out of remortgaging your property.
Your mortgage is probably the single largest debt and monthly outgoing so this is why it is so important to make the right decision before you put pen to paper. Lets take a look at some of the reasons why you would want to remortgage your property so you can be sure you are making the right choice.
Can I protect myself from interest rate hikes?
When you remortgage you can choose to fix your interest rate for a set period. This means that you won’t be affected by any future interest rate hikes whilst you are in your fixed-rate period.
Can I remortgage to buy an investment property?
Property can be a great way to invest your money for the future. Depending on your circumstances you may be able to take money out of an existing property in order to purchase an investment property.
Can I remortgage to give a gift to family?
You may want to offer a family member a helping hand so they can take their first steps onto the property ladder. You may not be able to do this with the funds in your bank, so remortgaging could be a way of freeing up funds to do so.
Can I use my mortgage to extend my home?
If you are running out of space at home, but don’t want to move to a new property, you may want to consider extending. However, extensions are expensive and with the costs of materials increasing, this isn’t going to change anytime soon.
Releasing Equity from your Property
Remortgaging your property is a great time to take some of the equity out which you’ve built up. How much you can withdraw will depend on your personal and financial circumstances.