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Video transcript
May 2013 figures from the Council of Mortgage Lenders show that remortgaging levels are still low when compared to the historical average, so coming to a remortgage broker like First Choice Finance can help find you a deal and save you time.First Choice offer many loan and mortgage services and our role as a remortgage broker is to scour the market to find the most suitable product for you. In this respect, we`re different from a comparison site as we have in house mortgage advisers who will provide advice and recommend a specific mortgage for you and we process the mortgage from start to finish.
Most sites will provide you with some options which can be informative but they usually leave the decision and processing up to you or will refer you to another company and often do not have their own mortgage advisers.
If you go to a single lender directly the selection of products they have available will be small, as in just their own, so you may be paired with the best they have, rather than the one that`s best for you from a wider choice through a remortgage broker.
One of the many reasons that homeowners look to remortgage their homes is so that they can switch to a better deal and mortgage brokers are useful in this transaction, as they can identify suitable deals from various lenders after taking any break fees from your current lender into account.
Alternatively, you may be looking to remortgage in order to provide a lump sum of cash for some kind of a project - like adding an extension to your home - or paying for the deposit on your children`s first home.
Whatever your reasons for looking into remortgaging, having been established for 25 years first choice finance will have seen your circumstances before and can be your helpful remortgage broker. Enquire on line at firstchoicefinance.co.uk or by calling 0800 298 3000 from a landline or 0333 003 1505 from a mobile to speak to our advisers.
Additional Mortgage, Personal & Secured Loan Products From Finance Brokers
Finance brokers occupy the critical financial services space between many lenders and the public who want to obtain their products. Remortgage brokers usually offer home mover purchase mortgages, buy to let mortgages and first time buyer mortgages in addition to the classic remortgage product. The main difference in the former examples being that they involve physically moving home as well as taking on a home loan from a mortgage product provider.First Choice Finance do indeed offer those products to facilitate a home purchase through its intermediary services. However not everyone wants to buy a house or remortgage their current one. That is why we have added other financial services market products to our portfolio to better serve our customers. Depending on the amount of money to wish to raise, your tenure (that is whether you are a homeowner / mortgage payer or not ) and your conduct on your previous or current credit commitments you may find that another product is more suited to your particular finance goals. Our personal loans range from £500 to £15,000 and are available to tenants and homeowners alike.
Our guarantor loans are suited to those who want a loan but cannot get one themselves for some reason but can get someone to take joint responsibility for the loan, this gives comfort to the lender that there are two separate entities who are willing to pay back the loan and therefore they are a little more flexible on the credit profile of the primary borrower. These range from £ 1,000 to £10,000 with similar terms of one to five years to individual personal loans but usually with higher rates in line with the credit of at least one of the borrowers likely to be at least slightly impaired.
Finally on the loan front there is the hybrid personal loan and mortgage product known as a secured loan, homeowner loan or secured personal loan. These are secured on your home and carry the same risks as any mortgage or remortgage. Their nature means they are only available to homeowners / mortgage payers but because the lender is being given some collateral for the advance some lenders in this arena will be more flexible so long as you can demonstrate clearly that you can afford the secured loan repayments. These can come in useful when the timing is not quite right for you to remortgage and a personal unsecured loan does not meet your needs. Advances range from £3,000 to £150,000 with terms from 3 to 25 years. Basically the amount you can borrow is determined by affordability, your credit performance and of course the equity available in your home.
