Reduce Mortgage Balance

Reduce Mortgage Balance

Reduce mortgage balance, reduce mortgage rate and reduce mortgage interest are often reasons for remortgaging. UK lenders do prefer borrowers to reduce the mortgage balance to a certain loan to value (LTV) and the consequence of reducing the mortgage balance to this can often result in obtaining a better mortgage deal.

It is not always possible to reduce mortgage balances to the desired amount but at Capital Fortune we can advice you on the best mortgage deals at different loans to value. It may be that if you can reduce the mortgage balance by a few thousand pounds you can reduce the overall mortgage rate and mortgage costs significantly. The savings made, if you wish can then be overpaid on your mortgage which will serve to further reduce the mortgage balance and on it goes.

The quicker a borrower can reduce mortgage balances, the less interest they will pay on the mortgage as the overall mortgage balance upon which interest is paid has been reduced.

In the longer term this can mean significant savings on the overall mortgage deal.

Why not speak to one of our Mortgage Advisers for advice on mortgage features by calling 020 77 100 400 or Enquiry Online.

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