Re-mortgaging a home means you are not buying a new home, you are simply switching your mortgage to another lender or new product from your existing lender in order to get a better deal. When you first take out a mortgage, no doubt you would have secured the best deal that was available to you at that time. However your circumstances may have changed and the products on offer will have changed so do you know if your current mortgage is performing as well as it could be?

Re-mortgaging has become quite straightforward and commonplace as we live in a culture where changing providers, whether they are mobile phone, insurance or utility, is the norm. This has played to the advantage of the consumer who now has a wider choice of products to choose from.

There are many reasons why you might be thinking about re-mortgaging. Saving money by reducing your monthly payments is a key motive. Avoiding high variable or fixed rate interest rates is another that can be achieved by switching lenders. You may want to raise additional funds by releasing equity that would have built up over time from your property to spend on home improvements or to help your children get on the property ladder. Whatever your reasons, the team from Limetree in Cambridge can help ensure you get the best deal on the market.

With over 75 years’ industry experience, Limetree Financial Services in Cambridge have the knowledge to help you with the re-mortgaging process. We can source re-mortgage deals from a wide selection of lenders and as we are independent providers we are not obliged to stick with any particular one, we can choose the best offers for you from the whole market place.

Our team are always here to help you with re-mortgaging advice and as we know your life is busy, we can work around your schedule and are happy to meet at our office or at your home. We can help you decide whether it’s going to be of benefit to you if you switch lender and can help with any queries that you may have. We pride ourselves on our high levels of customer service and work in an open and transparent way ensuring you are kept in the loop throughout the whole process.

So if you would like some impartial advice about re-mortgaging, please don’t hesitate to give our friendly team of experts a ring on 01223 266140.

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As borrowing drops in July, is this the start of Brexit blues?

It’s now nearly three months from the shock result of UK to leave the EU. We’ve been told that “Brexit means Brexit”, but for the time being, nobody seems to know exactly what will happen next – politically or economically.

In terms of property, such uncertainty breeds uncertainty – and borrowing has dropped considerably. According to data from the Council of Mortgage Lenders, total borrowing by house owners was £10.6 billion in July 2016 – down 13% compared to the previous month and a 12%.drop compared to the previous year. At 58,100, the total number of loans taken out by homeowners was also down 14% month on month and 13% year on year. First-time buying also took a hit – down 19% month on month and 6% lower than June 2015.

So should we be worried about a slowdown? A drop in borrowing can suggest a cooling off in the market, but there may be factors other than the referendum result at play here.

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