There may never be a better time to reduce your mortgage payments

The current Bank of England base rate now stands at a historic low of 0.1%. This rate, set on the 19th March 2020, could be good news for those looking to reduce their monthly payments by remortgaging, as mortgage rates may well follow this unprecedented cut.

It is a good time for homeowners to consider these opportunities and to take advantage of favourable interest rates by looking around for remortgage options. Once you have found that preferable mortgage deal we can help with all the legal aspects and complete your remortgage as soon as possible to help you reduce those monthly payments quickly.

However, remortgaging is not just about getting a better rate, important though that is, as some homeowners have different priorities:

  • Remortgaging to release equity – it may be that moving is not currently an option and so this is the time to obtain cash in readiness for home improvements, extensions, debt consolidation or even a future wedding.
  • Remortgaging in a Shared Ownership property – some properties are bought at anything from 25% to 75% of its value with rent being paid on the remainder. Now may be the time to consider buying more of your share in the property. We can help you facilitate your share purchase.
  • Remortgaging for outright owners – even though you own a property outright, it may be a time to help your children or grandchildren get onto the property ladder or it may be that you need to help them now in these unprecedented times

Whatever your needs Burley Geach Solicitors can help you through the remortgaging process and we can do it quickly. We have carefully packaged our remortgaging service to manage your legal costs involved.

If you have a question about remortgaging your property, you can get in touch with one of our specialist conveyancing solicitors in anyone of our four offices, Haslemere, Petersfield, Grayshott and Liphook.