Re-Mortgages / Switching Mortgages
A re-mortgage is the process of switching your mortgage arrangement from your present lender to a new company. Usually this is done in order to achieve a better interest rate at the end of your existing arrangement or to release additional equity from your property or to perhaps take advantage of a different repayment method.
Each of the lenders on the Isle of Man offer a range of re-mortgage products. Some of these deals come with a free valuation, cash back towards legal fees or with no arrangement fee which can bring down the costs of transferring your mortgage. We can provide you details of all re-mortgage rates currently available on the Island.
At Financial Options we like to stay in touch with our clients. Once we have set up your initial mortgage we will add you to our database and write to you before your current mortgage is due to expire. At that time we will discuss whether it is appropriate to renegotiate a new rate with your current lender or whether it would be more beneficial and cost effective to switch to a new lender as described above. For more information about arranging a re-mortgage or to discuss it is appropriate to renegotiate with your current lender please contact Paul on 01624 612611 or by email [email protected] or please complete our online mortgage form.
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