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1.22% 2 Year Fixed 

  • Overall cost for comparison 3.80% APRC

Representative Example:Mortgage of £120,000 on property valued at £200,000 over term of 25 years.Rate fixed for 2 years after which reverts to Post Office variable rate of 4.24%.

Call Post Office on 0808 179 6813

2.29% 5 Year Fixed 

  • Overall cost for comparison 3.90% APRC

Representative Example:Mortgage of £120,000 on property valued at £200,000 over term of 25 years. Rate fixed for 2 years after which reverts to Yorkshire Bank variable rate of 4.70%.

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.12%
Rate type: Fixed Oct-2019
Monthly cost: £388.16 per month
Max LTV: 60%
Product fee: £1990.00
Overall cost for comparison: 3.8% APRC
Post Office logo 1.12% Fixed Oct-2019 3.8% APRC 60% £1990.00 £388.16 per month get quotes Call direct0808 178 6813
Initial rate: 1.19%
Rate type: Fixed Nov-2019
Monthly cost: £389.37 per month
Max LTV: 60%
Product fee: £1423.00
Overall cost for comparison: 3.5% APRC
NatWest logo 1.19% Fixed Nov-2019 3.5% APRC 60% £1423.00 £389.37 per month get quotes Call direct0800 158 2934
Initial rate: 1.19%
Rate type: Fixed Nov-2019
Monthly cost: £389.49 per month
Max LTV: 60%
Product fee: £1273.00
Overall cost for comparison: 3.5% APRC
Royal Bank Of Scotland logo 1.19% Fixed Nov-2019 3.5% APRC 60% £1273.00 £389.49 per month get quotes Call direct0800 096 7447
Initial rate: 1.19%
Rate type: Fixed Nov-2019
Monthly cost: £389.49 per month
Max LTV: 60%
Product fee: £1273.00
Overall cost for comparison: 3.5% APRC
Royal Bank Of Scotland logo 1.19% Fixed Nov-2019 3.5% APRC 60% £1273.00 £389.49 per month get quotes Call direct0800 096 7447
Initial rate: 1.19%
Rate type: Fixed Nov-2019
Monthly cost: £389.37 per month
Max LTV: 60%
Product fee: £1273.00
Overall cost for comparison: 3.5% APRC
NatWest logo 1.19% Fixed Nov-2019 3.5% APRC 60% £1273.00 £389.37 per month get quotes Call direct0800 158 2934
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

How to remortgage to release equity

Why remortgage to release equity?

Equity release remortgages can offer older mortgage holders a method for raising capital utilizing the current value of their property, without needing to downsize.

At Fair Mortgages, we can offer you an in-depth evaluation of your financial circumstances and equity release needs to help you choose the equity release remortgage that is a good fit for you.

What type of equity release scheme to choose?

There are two key streams of equity release arrangement - lifetime mortgages and home reversion plans. Equity release is a major financial undertaking and before you decide what kind of remortgage to release equity that you want to choose, it can be a good idea to consult an independent, whole of market mortgage advisor. In basic terms, the contrasts between the two sorts of equity release arrangement are as follows:

  • Lifetime Mortgages – with a lifetime mortgage you take out a loan that is secured on your home, while you continue to own and occupy your property. You will pay back the loan when you die or move into residential care. With a lifetime mortgage, the total amount that you will be able to release form your home will depend on two factors – the age of the youngest applicant, and the current valuation of your property. You may be able, in some circumstances, to borrow more than half of the value of your home.
  • Home Reversion Schemes – with a home reversion plan you sell all or a proportion of your home’s value to a home reversion organization. You will no longer own your home but you can continue to live there, and you may be required t pay a small amount of rent. The home reversion company will sell your house when you die or move into a care facility.

Things to bear in mind when considering a remortgage to release equity

How would you like to get your cash? - With equity release plans, you generally get the cash as a single lump sum which you can then use as you wish, although some schemes permit you take the money in instalments as a salary. Which kind of equity release arrangement is best for you will hinge on what you are intending to utilize the cash for – in the event that you are arranging a one-off expense like a holiday, then a larger single payment may be of more use to you than several smaller payments.

Have you looked at the equity release remortgage market? – Before you commit to a remortgage to release equity it is a good idea to do your own comparison of different equity release remortgage offers in order to figure out which ones offer the rates and benefits that are ideal for you, and additionally to find out any potential disadvantages. The equity release market is a broad one and you may find that there are a lot of diverse options to look over, which can be time-consuming and can make it hard to know where to begin. Our specialists can help you to consolidate your choices and select the equity release remortgage that is right for you.

Have you understood the potential advantages of a remortgage to release equity? - If you are one of the numerous over 55s who hold significant money locked up in your property, yet don't have much disposable cash to hand, then a good equity release plan could permit you to get hold of some of this money to spend as you wish, giving you more choices for your retirement.

Have you understood the potential disadvantages of a remortgage to release equity? - Equity release remortgages are not a good option for everyone. They can have an effect on your inheritance, and can also influence your benefit entitlements, especially for means-tested benefits and government grants. 

Choosing to remortgage for equity release

Remortgaging for equity release is a major financial decision with various benefits and potential drawbacks attached, which means that getting the best equity release remortgage advice should be a key priority.

At Fair Mortgages our team of independent, whole of market mortgage experts can discuss your equity release remortgage requirements and help you to find the most suitable equaity release remortgage deals for you – call us today on

0117 313 7780  or to speak to one of our mortgage advisers click here »

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