Currently there are no mortgage lenders in the UK offering 125% remortgages.All 100%+ products were withdrawn from the UK market at the beginning of 2008, as mortgage providers struggled to raise finance for these products due to tightening lending criteria; the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.
Remortgaging allows you to find better interest rates and raise capital on your property. With a 125% offer you can borrow more than the value of your home, freeing up cash for investments or any other reasonable purpose. Because you are borrowing 25% more that your property is worth, rates tend to be higher than with standard deals, but you can still find some excellent value offers through Fresh Start Finance.
If you would like to work out how much you can afford to borrow without overstretching your budget, visit our calculator page.
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. Other remortgage types include:
Apply for a 125% remortgage bad credit deal with Fresh Start Finance
Feel free to call us now for an instant decision on - 0800 389 6345. Our friendly, experienced team are ready to answer any questions that you may have and help find the best value offer for you.
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