Call us now on 01733 560 650
01733 560 650
Regal Park Financial
Regal Park Financial
Regal Park Financial
David Etherington

Call Us

We're available from 8:30am - 5:30pm
on 01733 560 650

Write To Us

Regal Park Financial Limited
7 Office Village
Cygnet Park


The details you provide will only be used to contact you by telephone, post or email regarding your buying and selling needs.
We never share your details with third parties. If you would prefer not to be contacted or your details retained, just let us know when contacting us.
The internet is not a secure medium and the privacy of your data cannot be guaranteed.


As the purse string tightens when the holidays come to an end you'll be thinking of ways to cut down your spending. But have you thought about how changing your mortgage may help save you money?

For those that are unsure what a re-mortgage is, it's when you take out a new mortgage to replace your existing one on the property you already own. People do this for a variety of reasons as it can have big benefits.

Re-mortgaging should be something that is on your mind just as your car insurance is. You wouldn't let your current car insurer just renew your policy when you can possibly get a better deal elsewhere.

There can be a number of factors why people choose to re-mortgage their home. For some, simply reducing their monthly payments, or ensuring they stay as low as possible is the priority. For others the reason may be releasing the equity they've built up in their home or changing the terms of the mortgage to make it better suit their current circumstances.

If your mortgage deal is due to finish in the next few months, timing is important. Getting a new deal in place before your current one ends means you can avoid paying a lenders standard rate which can be more expensive.

An example of deals where re-mortgage timing may be important are Fixed Rate Mortgages which typically run for a set term of between 2 and 10 years. They then transfer to the lender's standard variable rate of interest (SVR) which is probably higher. If your current mortgage is on a fixed rate deal, when you get to the end of the deal period you need to review and possibly re-mortgage if you don't want to be moved onto the Standard Variable Rate.

There are many factors involved in getting a new mortgage, and the process may seem complex and time consuming. If you approach your current Lender for a new deal, they're likely to only suggest their own rates.

At Regal Park Financial our qualified adviser is trained to ensure they are up to date with changes to legislation and will find the right solution for you. They can compare offers from over 50 of the most well known lenders, helping you find a suitable option for your circumstances, even if our final recommendation is to remain with your existing lender on one of their new offers.

Once we've researched everything for you, and found you a great deal, if you're happy with what we've recommended, it's time to submit your application. We'll submit the application on your behalf, saving you the hassle of lengthy application forms and follow the application through to a successful conclusion.

We can arrange to visit you at home or you can come to our offices, whatever suits your needs, our adviser values building partnerships for life and will keep in touch with you every step of the way.

Once your re-mortgage has completed and your new payments start, we will keep in touch on a regular basis to ensure you remain "re-mortgage ready". This will mean when the new deal approaches it end, we'll be there again to review and continue to make savings. In the meantime, by keeping in touch, if your circumstances change in the interim, we're still here to help and offer advice.

Your home may be repossessed if you do not keep up repayments on your mortgage.


Why should you consider re-mortgaging?

Mainly it's to save you money. If your current mortgage deal is about to come to an end, it's important to start shopping around for a new deal before you get transferred onto your lender's standard variable rate (SVR), which could end up being a lot higher than your current rate.

Reasons you may re-mortgage

  • You want a more flexible mortgage
  • You want to switch the mortgage types
  • The value of your home has increased
  • You want to buy out your partner
  • You want a better rate

There is no set time to say when you should re-mortgage as it will greatly depend upon your own individual circumstances and reasons.

What it may be able to do for you?

  • Save you money
  • Move you on to a fixed rate deal if this is right for you, so you are certain of what your repayments will be
  • Release equity in your home if it has increased in value
  • Fund home improvements
  • Move you onto a mortgage that better suits your current financial circumstances
Your home may be repossessed if you do not keep up repayments on your mortgage.
Ready for the next step?

Our expert and professional financial advisors are waiting to help.

Request more information or a callback now or phone us on 01733 560 650