Time for a change? Time to Remortgage
Oracle will make it all make sense to give you the breathing space you need.
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Fantastic service, at your service. We're ready to go above and beyond to ensure your success.
Lorna, thank you for all your help with our mortgage and loan so we could get our property. We are so thankful and will never forget all the help, advice and excellent level of service you provided.
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Brilliant service once again. I enquired about house insurance on a Friday afternoon as our renewal premium had more than doubled! Oracle not only came back with a quote out of hours, but we’re now paying a third of the renewal quote! We wouldn’t go anywhere else for our mortgage, life or house insurance.
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By moving our mortgage with Oracle we were able to save over ยฃ500 per month. During a time of economic uncertainty, this has offered us financial flexibility now, and peace of mind moving forward.
Luke
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Fantastic service from Jay on our house insurance, saved us money from our previous provider and very efficient and friendly service. Highly recommended.
Julie
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Just want to say a huge thank you to Conor and all the team at Oracle. This was the second time using them to advise and guide us with a mortgage and both times they have been FANTASTIC. We didn’t have the smoothest run with our buying and selling properties but Oracle advised us all the way along and were always happy to listen, help and ensure we got the best deal possible. Thank you so much! ๏ฟฝ
Kat
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Last updated: 19 November 2024
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Do I get a better deal if I go direct to the bank for a remortgage?
No, brokers access the same rates for remortgaging as banks do. Utilising a broker allows you to explore identical deals available directly from lenders.
Why should I use a broker instead of going direct to my bank for remortgaging?
Leveraging over 60 years of combined experience in mortgage lending, we guide you to the optimal remortgage product and rate based on your personal situation. We connect you with a diverse selection of lenders to ensure you make an informed choice.
How much equity do I need to remortgage?
Most lenders require you to have at least 10% equity in your property for a remortgage. However, some may allow remortgaging with only 5% equity, offering loans up to 95% of your property’s value.
What are the fees involved in remortgaging?
It’s wise to set aside approximately 4% of your property’s value to cover remortgaging fees, including legal costs, valuation fees, and any potential exit fees from your current mortgage.
Iโve heard of LTV in remortgaging, what does it mean?
LTV, or loan to value, is the ratio of your mortgage amount to your property’s value. If your property is valued at ยฃ500,000 and you need a ยฃ450,000 mortgage, this is a 90% LTV, reflecting a 10% equity holding.
Do I get better rates if I have more equity?
Yes, having more equity typically secures more favourable remortgage rates. Lenders often offer improved terms for equity bands at 40%, 60%, 75%, 80%, 85%, and 90%.