Currently there are no mortgage lenders in the UK offering 125% remortgages.All 100%+ products were withdrawn from the UK market at the beginning of 2008, as mortgage providers struggled to raise finance for these products due to tightening lending criteria; the "credit crunch".
Mortgage lenders may well re-enter this market, but only once the confidence in the financial markets returns. Up till then remortgages are only likely to be available up to 90-95% and lenders are will be looking for prospective purchasers to have a 5-10% deposit available.
By taking out a remortgage on your home you can save money, cut your monthly outgoings or raise cash for other reasonable purposes. With a 125% remortgage you can borrow an extra 25% above the value of your home and use the extra money as you wish. A 125% remortgage isn’t the right deal for everyone. The higher risks to the lender mean that interest rates run higher than with other types of mortgage. You may end up paying a larger monthly fee, or a bigger overall sum. However, they are a good way to raise cash or consolidate debts, allowing you to take advantage of lower rates than with an unsecured loan.
By using our 125% remortgage comparison tool you can compare the rates, terms and conditions of the most competitive offers on the market. That way you can make sure that you find the deal that suits you best.
You may want to consider taking out a protection or insurance deal. These insurance policies can offer everything from cover for your valuables and property to guarantees that if you are unable to work for a long period of time your mortgage repayments will be kept up.
Use our 125% remortgage bad credit comparison
Phone now for an instant decision on 0800 389 6345. Our friendly, experienced team are waiting to take your call and help you find the best value deal on the market.
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