There are many reasons why you might wish to raise capital on your home. A capital raising mortgage can help you secure funds for anything from renovations and improvements to investing in another property. Fresh Mortgage.NET can find the right capital raising mortgage for your needs. With a whole of market choice, we are experts in locating the best deal from thousands of mortgage offers.
What is a capital raising mortgage?
Capital raising mortgages are usually ways of re-mortgaging your house to release funds for other purposes. The cash could be for home improvements, a holiday, a new car or simply to consolidate existing debts. Many people use re-mortgaging to take advantage of lower mortgage interest rates when consolidating all their loans into one manageable monthly fee.
Is a capital raising mortgage right for you?
A capital raising mortgage can be a very useful short-term solution to financial problems, whatever you need the money for. The lower interest rates mean that by increasing your mortgage, you will likely pay less than getting an unsecured loan. However, you should consider the fact that it will mean larger mortgage repayments and a longer repayment term. There may also be early repayment penalties on your current mortgage.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. There may be fee charged for mortgage advice. The precise amount will depend upon your circumstances but the maximum fee would be 1.5% of the loan value. Some mortgage and insurance products are not regulated by the FSA.
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