95% LTV Remortgage

Finding the right mortgage deal can be challenging, and if you're considering 95% LTV homeowner remortgages, it's essential to understand the process thoroughly. At Cyborg Finance, we want to help you navigate this process with confidence. Therefore, we've created this comprehensive guide just for you.

Lowest 95% LTV Remortgage Rates

Benefits of 95% LTV Homeowner Remortgages

1. Lower Monthly Payments: One enticing advantage of a 95% LTV remortgage is potentially reducing your monthly repayments compared to your Standard Variable Rate (SVR). This could free up cash flow in your budget, providing more flexibility in your finances.

2. Cash Release: A 95% LTV remortgage might allow you to release equity from your home, freeing up cash for much-needed home improvements or unforeseen expenses. Remember, though, this depends on the value of your property increasing since you initially took your mortgage.

Find the best 95% LTV Remortgage deals with our online mortgage search tool.

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Disadvantages of 95% LTV Homeowner Remortgages

1. Higher Interest Rates: Mortgages with lower LTV rates tend to have lower interest rates. Hence, with a 95% LTV remortgage, you may encounter slightly higher interest rates compared to those with lower LTVs. Higher interest could mean you'll pay more over the mortgage's lifespan.

2. Risk of Negative Equity: With 95% LTV, there's a higher possibility of ending up in negative equity if property values decrease. Negative equity happens when your mortgage's outstanding balance surpasses your property's worth, which could complicate matters if you decide to move or sell your home.

Requirements for 95% LTV Homeowner Remortgages

1. Good Credit Score: A solid credit history and score may increase your chances of being approved for a 95% LTV remortgage. Lenders want to see that you've managed credit responsibly in the past.

2. Proof of Stable Income: You'll need to show ongoing, stable earnings to reassure the lenders that you can meet your mortgage payments.

3. Property Valuing Up: It's critical the value of your property has increased since the initial mortgage. This equity is what you’re essentially ‘unlocking’ with your remortgage.

The Need to Use a Mortgage Adviser

A mortgage adviser's guidance can be instrumental in your remortgage journey. They can help you understand the application process, compare deals, access exclusive rates, and negotiate with lenders on your behalf. Essentially, they will help you find the best possible remortgage deal tailored to your unique circumstances.

At Cyborg Finance, we're ready to help. Contact us today to take the first step in your remortgaging journey.