Barclays 2 year tracker cashback remortgage
A capital and interest mortgage of £161,000 payable over 25 years on their variable tracker rate of 1.29% above the Barclays Bank Base Rate (currently 0.25%) for 2 years, and then a variable tracker rate of 3.49% above the Barclays Bank Base Rate for the remaining term would require 24 monthly payments of £646.93 and 276 monthly payments of £812.62. The total amount payable would be £240,923.44 made up of the loan amount plus interest and £999 (product fee), £80 (final repayment charge), £35 (completion fee).
HSBC 2 year tracker for people with an existing current account
Tracker rate: This means that the initial interest rate you pay is variable and is an agreed percentage above the Bank of England's Base rate. As the base rate rises and falls, your interest rate will track these changes, and this will affect your monthly payments accordingly. You can apply for this mortgage: If you are an existing HSBC Customer or not.
Cumberland 2 year discount remortgage
Your interest rate tracks the Cumberland Standard Variable Rate (SVR), currently 4.24%, less the agreed discount of 2.81% for the first 2 years, followed by the SVR until the end of the mortgage. Free Valuation Fee - No charge for the valuation of your property. Free Legal Service - You will not be charged if you use a Cumberland nominated solicitor (standard cases only). £100 Cashback - If you have a Cumberland current account or switch your main current account to the Cumberland (conditions apply - please see below).
Santander 2 year tracker cashback remortgage
Award winning with over 160 years of experience so you know you’re in safe hands. No product fee on selected mortgages. Plus on the majority of their mortgages you'll get: a free standard valuation on a property valued up to £2.5 million; and they'll pay your standard legal fees, which are only repayable if you repay your mortgage within the first two years. Choose how you apply. If you’re comfortable choosing a mortgage without advice you can apply online. However if you’d like advice, give Santander a call or visit a branch. See your mortgage in Online and Mobile Banking.
Why should I remortgage?
There are many reasons why you may decide to remortgage your house. The main motivation for doing this is to save money. A mortgage is a huge financial commitment that takes a significant portion of your life to pay off. Often, what seemed like a good deal when you originally took out the mortgage can become overshadowed by better offers elsewhere.
Better rates may be available since you first took out a mortgage which could save you a significant sum. Or if your home value has increased, you may find you’re now eligible for lower rates, again saving you money.
Aside from better rates, another reason to remortgage is if you want to pay off a larger amount but your current provider won’t let you. This could arise from receiving a pay rise or inheriting money. A remortgage can then allow you to reduce the loan size and you may also benefit from a cheaper rate as a result.
As well as saving money, you can remortgage to raise money. If your current lender won’t lend you extra money for home improvements then remortgaging with a new lender may be an option to raise the money.
No matter what your reason is to remortgage your house, make sure you take all fees into account to ensure it is the best method to save money.
FAQs about remortgages
What is a remortgage?
A remortgage is where you take out a new mortgage in place of your existing mortgage. This can be with the same lender or a different lender.
How long does the remortgage process take?
Although it varies depending on the lender and your circumstances, you can expect the remortgage process to take about one month.
When is a good time to remortgage?
When considering a remortgage, you should keep an eye on the market to see what deals are available to you. The best time to research this is when the deal you’re currently on is coming to an end. You need to be aware of any exit fees that apply.
What’s an exit fee?
An exit fee is a financial penalty for leaving your current mortgage deal early. You may be required to pay this.
Do I have to get a remortgage with the same lender?
No, you can get a remortgage with a different lender. Though you may need to pay an exit fee to your current lender.
What fees will I have to pay to remortgage my house?
You may have to pay an exit fee or early repayment charge to your current mortgage provider. You might also have to pay fees to get the new mortgage set up.
Can I get a remortgage with bad credit?
When you apply to remortgage, your credit history will be checked. If you have a bad credit rating, you may find you get turned down by certain providers, or that it becomes more expensive to make the switch.
Will I have to get my house re-valued when I remortgage?
Yes, most lenders will want to value your house as part of the application process.
Am I eligible for a remortgage?
When applying for a remortgage, the lender will look at the same criteria as if you were applying for an ordinary mortgage. Whether they decide to accept your application will depend on your income, current financial situation and credit history.