With the onset of a deregulated mortgage lending industry, consumers are now more easily able to shop around for the best mortgage deal on the market. It has also become common practice to consolidate ‘other debts’ onto the mortgage so that they attract the same rate of interest as a mortgage.
This will be approved where the proposed loan is up to a value of no more than 25% of the difference between the original purchase price and the current value.
You should always obtain permission from us before looking to remortgage. A full copy of Home’s Remortgaging policy is available upon request.