25 January 2022

Clients looking to remortgage or rate switch?

By James Enos, National Account Manager, Hodge Bank

Remortgaging - the word on everyone's lips right now.

With Bank of England base rates potentially set to rise, it's become a popular choice for many, including Hodge customers.

That’s a lot of conversations and questions between you and your client's and it got us thinking, how can we make the remortgaging process simple, easy and as straightforward as possible?

The answer, we work with you and ensure you have all of the information you need at your fingertips.

Knowing the facts on remortgage before having those all important client conversations is paramount. Twenty7Tec’s October market report findings showed that, despite seasonal trends for house buying in autumn, overall purchase search activity dropped in October.

The production of remortgage ESIS documents came close to overtaking purchase documents for the first time since the firm’s market report series began with 9 of the 10 busiest days in 2021 for remortgaging ESIS documents falling in October.

Can you afford not to get involved? If your client's happen to be over 50, looking for an alternative to equity release or not finding that high street lenders fit the bill, we can help.

Some of the more common queries we receive such as whether we’ll accept day 1 remortgaging, capital raising for home improvements or debt consolidation on a remortgage (we do), to whether we can consider remortgaging for ex pats, transfer of equity or bridging loans - you’ll find answers to by visiting the criteria section of the Hodge for Intermediaries site.

Simply type remortgage as your search term and find your answer. It's quick, it's efficient and it helps you.

If you'd rather talk to someone about your  client and their specific needs, we've got that  covered, we'll give you a team of BDMs from the off who'll be happy to help.

We'll help you arm yourself with a whole host of knowledge that will allow you to have those all-important conversations with your client about what's important.

Another thing we've seen an increase in requests for help with is rate switching. Makes sense when you think customers are worried about potential hikes in interest rates or simply the general uncertainty of daily life at the moment.

Always working with you to make things easier, we’ve created a dedicated section of our intermediary site, including FAQs, that tells you how to rate switch and re-fix with us, you can take a look here. Your client can take advantage of a rate switch by applying any time during the last three months of their current fixed rate.

The Benefits of switching for you and your customer?

  • No valuation needed – speeding up the process
  • No legal fees – saving time and money
  • No credit checks – no unnecessary waiting
  • No supporting documentation – saving time on admin
  • Re-fix on a 2 or 5 year rate - peace of mind in uncertain times
  • Procuration fee 0.25% – additional fee for you

If you have clients approaching 50, looking for alternatives to equity release, be it for a purchase or a remortgage, visit out intermediary site for a whole host of help and information or talk to us on 0800 731 4076.

 

For adviser use only. Please note this content has been supplied by our lender partner and as such, is their responsibility. No party shall have any right of action against Legal & General in relation to the accuracy or completeness of the information in this article.