Remortgage

Homeowners who are approaching the end of their “Deal Period” with their current lender will start thinking about remortgaging to avoid moving over to a lenders standard variable rate- which might turn out to be quite uncompetitive. We can assist you with this by researching the whole of market to ensure that the new product is on that is competitive and meets your needs going forward.

Remortgaging can also be the right option if you are thinking about raising funds. Here are some of the reasons why people remortgage:

Raise funds to carry out home improvements on Residential or Buy to Let property
Raising a deposit to purchase an onward property e.g. a Buy to Let investment
Raising a deposit to gift to a member of the family with a view to help them to get onto the property ladder
Debt consolidation- We would strongly recommend that you obtain advise to understand if this is the right option for you in case considering increasing the mortgage on your home to repay other debts
Increasing or decreasing the term of your mortgage- with a view to reducing monthly payments or with an aim to repay your mortgage sooner.
Moving from an Interest only mortgage to a repayment one

If you are thinking of Remortgaging for any of the above reasons please get in contact with us, we will be happy to look at all the options that are available to you before making a suitable recommendation. In any case increasing the mortgage on your home should not be a decision that is taken lightly, being able to afford the new mortgage is critical, as you could lose your home if you do not keep up mortgage payments.

About Us

Cubic Financial Services is dedicated to providing clients with expert advice on Mortgages (Residential & Buy to Let) & Protection (Life Insurance, Income Protection, Accident Sickness & Unemployment insurance). We are also able to assist you if you have any Commercial, Bridging & Development Finance requirements. We are committed to putting clients at the heart of everything we do and to developing long-term relationships with our clients. This is achieved by ensuring that we understand the individual needs of each client.

Whilst we pride ourselves on the friendly and approachable nature of our advisers and on being an integral part of the local community in Slough and surrounding areas, we at Cubic Financial Services are keen to help clients nationwide, to ensure that you have access to the right advice regardless where you live.

Stages in the Remortgaging Process

1. Assessment of current situation & Requirements going forward

It is important that a discussion takes place around your current circumstances and your future goals, this will ultimately determine whether a remortgage is the right solution for you.

2. Decision in Principle (DIP) / Agreement in Principle (AIP)

As a decision in Principle will (to an extent) take in to account your financial information and usually involve a credit check, this should help to give you the confidence around being approved for the mortgage that you need.

3. Appoint a Solicitor & Apply for a mortgage

Many mortgage lenders offer a free legal package (on remortgage applications) whereby they will pay your legal/solicitor costs to make the decision to move your mortgage over to them an easier one.

“We are committed to putting clients at the heart of everything we do and to developing long-term relationships with our clients”

4. Mortgage Underwriting & Property Valuation

Once the lender has received your mortgage application, they will need go through an underwriting process during which they will assess your circumstances and whether your property is acceptable for them to issue you the mortgage on.

5. Mortgage Offer

If the lender is happy based on their underwriting of your application, they will issue you with a mortgage offer, outlining the terms upon which they will lend you the money. Your solicitor will also get a copy of the mortgage offer to enable them to prepare for completion.

6. Completion

This is the final stage of the Remortgaging process. If you are taking on additional borrowing as part of the remortgage then one of the tasks will be for your solicitor to request funds from the mortgage lender and pass the additional monies onto you.

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