Residential Remortgages in Taunton
Remortgaging can be one of the smartest financial decisions you make as a homeowner. Whether you're looking to secure a better interest rate, release equity from your home, or change your mortgage terms, our expert advisors in Taunton are here to guide you through every step of the process. Check out our detailed guide on remortgage deals in Taunton for comprehensive information.
Why Consider Remortgaging?
There are several compelling reasons why homeowners in Taunton and across Somerset choose to remortgage their properties:
- Better Interest Rates: As fixed-rate deals come to an end, remortgaging allows you to secure a more competitive rate, potentially saving thousands over the mortgage term. See the latest Taunton mortgage rates for 2025.
- Release Equity: Access the equity built up in your home for home improvements, debt consolidation, or other major expenses.
- Change Mortgage Type: Switch from an interest-only to a repayment mortgage, or adjust your mortgage term to suit your current financial situation.
- Avoid Standard Variable Rate: When your fixed rate ends, you'll typically move to your lender's standard variable rate (SVR), which is often significantly higher.
The Remortgage Process
Our mortgage advisors in Taunton make the remortgage process straightforward and stress-free. Here's what you can expect:
1. Initial Consultation: We'll discuss your current mortgage, financial goals, and circumstances to understand what you're looking to achieve.
2. Market Review: We'll search the entire mortgage market to find the best deals available to you, comparing rates, terms, and features from over 90 mortgage lenders near Taunton Somerset.
3. Application Support: Once you've chosen the right product, we'll handle the application process, liaising with lenders and keeping you informed every step of the way.
4. Completion: We'll work to ensure your remortgage completes smoothly, coordinating with solicitors and your new lender.
Timing Your Remortgage
It's important to start the remortgage process at the right time. We typically recommend beginning your search 3-6 months before your current deal ends. This gives you plenty of time to find the best rates without being rushed into a decision.
Many homeowners are unaware that they can secure a new rate up to six months in advance, protecting them from potential rate rises while avoiding early repayment charges on their current mortgage.
Costs to Consider
While remortgaging can save you money, it's important to factor in potential costs:
- Arrangement fees for your new mortgage
- Valuation fees (though many lenders offer free valuations)
- Legal fees (some lenders offer free legal services)
- Early repayment charges if you're leaving your current deal early
Our advisors will calculate whether the savings from remortgaging outweigh these costs, ensuring you make a financially sound decision.
Why Choose Taunton Mortgages?
As independent mortgage advisors based in Taunton, we offer:
- Whole of Market Access: We're not tied to any lender, so we can search the entire market for the best deal for you.
- Local Expertise: We understand the Taunton property market and have established relationships with local solicitors and estate agents.
- Fee-Free Service: Our advice comes at no cost to you, as we receive our fee from the lender.
- Ongoing Support: We'll continue to monitor your mortgage and contact you when it's time to review your options.
Ready to explore your remortgage options? Contact us today for a free, no-obligation consultation. Let us help you secure the best possible mortgage for your circumstances and save money on your monthly payments.