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Raising Capital

If your home is now worth more than what is left on your mortgage, NexMoney can assist you with remortgaging to access that value and put it to work for you

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Accessing the value in your home to raise capital

If your home is now worth substantially more than what you owe on your current mortgage, the difference is known as capital value. Remortgaging may allow you to release some of the value that you have build up in your home, allowing you to put that value to work for you. People do this for a variety of reasons, for example for paying off a debt or to carry out renovations or improvements on your home. You may even want to release capital to finance a holiday or a car, or to provide a deposit to help your child purchase their first home.

Whatever your reasons for wanting to raise capital, your NexMoney adviser can talk to you about your circumstances and provide you with information about the mortgage products on the market that meet your particular needs. Remortgaging to raise capital can be tricky and some lenders have specific criteria to be met. Your adviser can take you through this process and ensure that you’re accessing the best rates on the terms that suit you.

Naturally it’s important that the costs associated with remortgaging don’t eat in to the capital that you are trying to access. This can be difficult if you are not familiar with the mortgage products on the market and the potential hidden fees and costs. NexMoney can help with identifying and avoiding remortgaging costs - In some cases valuations and legal services may be available for free on the mortgages we can offer you, and many of our products will attract no upfront fees.

In some cases you may wish to move to a fixed-interest mortgage to access capital. We can offer 2, 3, 5 and 10 year fixed-rate deals and your NexMoney adviser can take account of your personal circumstances and advise you on whether a remortgaging to a fixed rate mortgage is the right way for you to raise capital.

You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments with your mortgage.

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