Every now and then, it pays to check you are on a competitive mortgage rate
It’s easy to sit back and keep paying your monthly repayments without really thinking about the interest rate you are on. It’s usually only when rates go up that you think, ‘hmmm.. perhaps I could do better!’ At Stewart Hindley & Partners we constantly look at market remortgage rates and always strive to find the best available to suit your circumstances – no matter whether it’s a bed and breakfast, a hotel or a guesthouse that you want to remortgage.
Remortgaging: your funding options
Change the monthly payments
In essence, a remortgage can alter the monthly payments owed on the loan, either by changing the loan’s interest rate, or by altering the term-to-maturity of the loan. More favourable lending conditions may reduce overall borrowing costs. Remortgaging your bed and breakfast or guesthouse is used in most cases to improve overall cash flow.
Reduce the risk!
Another use of remortgaging is to reduce the risk associated with an existing loan. Interest rates on adjustable-rate loans and mortgages shift up and down based on the movements of the various indices used to calculate them. By remortgaging a variable rate mortgage into a fixed-rate bed and breakfast, guesthouse or hotel mortgage, the risk of interest rates increasing dramatically is removed, thus ensuring a steady interest rate over time.
Remortgage your loans
In the context of personal (as opposed to corporate) finance, remortgaging a loan or a series of debts can assist in paying off high-interest debt – such as a credit card – with lower-interest debt, like that of a fixed-rate home mortgage. This can allow a lender to reduce borrowing costs by more closely aligning the cost of borrowing with the general credit-worthiness and collateral security available from the borrower.
Loan fee structure
Stewart Hindley guarantees to source and arrange the most competitive loan or specialist mortgage on your behalf, subject to market conditions, your own personal and financial circumstances and the market valuation of the business to be remortgaged or purchased. We operate a “No Win, No Fee” philosophy, which means that our broker fee is only payable upon the offer of finance from ourselves or the lender directly.
Experienced B&B, guesthouse and hotel funding broker
At Stewart Hindley & Partners, our remortgaging expertise will steer you smoothly through the business remortgage options, ensuring that we understand the exposure and the level of risk and reward before any commercial remortgaging proposals are made.
We listen and learn; ensuring we understand how your business works, establishing the benefits of expansion or re-investment, and secure funding sources for B&B, hotel or guesthouse lending that are positioned to work to your advantage in today’s challenging environment.
As we are part of an established firm of Chartered and Certified Accountants, we have the knowledge, capability and contacts to arrange business remortgaging deals on almost any scale, negotiating terms to exactly fit your needs at any one time.
If you’d like to get some advice on remortgaging your business, please get in touch.