Remortgaging with CMME - The smart solution

The benefits of remortgaging

Remortgaging is essentially moving your existing mortgage from one lender to another. The challenge, however, is finding the best possible lender and deal available to you. That’s where we come in. CMME are a mortgage specialist for those who choose to work independently – whether you contract, are self employed or running your own business. We understand your complex needs and have been working with banks and building societies since 2004 to ensure you can get the mortgage you deserve. Your CMME dedicated mortgage advisor will find the best solution for you:

• We discuss your plans and build up a good picture of what you’re looking for.

• We search the market, including our exclusive deals, to find the best mortgage for you.

• We do the comparisons for you, against your existing lenders deal, making a clear recommendation on what would suit you best.

• We personally negotiate and secure you the mortgage offer.

• We can check your terms and your understanding

• We are there every step of the way. We make it as easy as possible for you to smile and say yes.

CMME – Our expertise makes it easy

Remortgaging gives you the perfect opportunity to ensure your mortgage is working hard for you, and not just the other way around. This is the time for you to save money on your repayments, release money for a holiday or home improvement, or simply pay the mortgage off quicker. Whatever your personal situation, changed circumstance or long term goal, make sure your mortgage is aligned and reap the benefits.

Why remortgage?Reduce your paymentsYour mortgage is probably the largest financial commitment you will ever make, so it makes good business sense to ensure you are on the best rate available, before you are moved to your Lender’s Standard Variable Rate. Don’t just assume you’ve got the best deal, let us check your understanding that what’s being offered is the best there is. We could reduce your monthly payments, leaving you that extra money available for other priorities.

Review your life When you chose your mortgage originally, you made sure it met your needs. The smart question to ask when it is due for renewal is, does it still work for me?Could it release equity to pay for that dream kitchen, or the loft conversion, or garden office? Could the equity consolidate debts elsewhere and make them easier to manage? Would the lump sum pay the deposit on a second property? Equity release is entirely possible through the remortgage process, making your dreams a very achievable reality.

Renew your termsIt’s not always about saving money. You can also change the terms on how quickly, or slowly, you pay off your mortgage. If you’ve recently had an increase in your contract rate, or have inherited some money, you might choose a higher repayment rate and end your mortgage sooner. This would save you money on the interest paid overall. Conversely, you may want to pay less over a longer term, or a change in job or lifestyle might mean that repayment pauses are necessary. Finding the right term and flexibility for you would alleviate everyday stresses and offer a reassuring solution.

Remember, your current lender may not offer the best possible deal for you at the end of your term: the one that lets you reduce your payments, review your life ambitions, or renew your terms. We will leave no stone unturned in finding out if there is a more personalised solution out there for you.

CMME processes put you at ease

We make even the most complex mortgages easy.

As an experienced contractor or shrewd business owner, you’ve come to the right place. CMME is a specialist service for independent professionals and we have negotiated special contract-based underwriting with certain high street lenders. This means the best tailored and exclusive mortgage solutions for you. We can either use your gross annualised contract rate or your limited company accounts to assess the best option for you and

establish how much you can afford to borrow. This ensures the amount you can borrow is based on what you actually earn, rather than what you draw as an income. Rather than look at the income you took from your business, we could use the contract rate you charge to work out how much you can borrow. Your personal Mortgage Advisor will navigate the way. This means you can borrow more, because any tax saving methods that you employ won’t be taken into account when calculating remortgage affordability.

How does it work?

Review your unique situation:

We want to hear all about your mortgage needs so that we are able to source the right

mortgage for you.

Secure your offer:We will talk you through your offer when it arrives, making sure you fully understand the

detail before you accept.

Provide expert advice:We will research the

options which best suit your situation and mortgage

requirements and make our recommendation.

Complete your switch:We will be with you right through

to completion, supporting you as things progress between your solicitor and lender, to ensure a smooth transition.

Make your application:We will prepare your

application for submission to the recommended lender, positioning your case in the

best light and managing the entire process on your behalf.

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TOP TIPS! Keep an eye on

your credit score

Get your key paperwork together

Keep your CV up to date

Put yourself in our hands. We’ve got you.

Types of mortgages available

Repayment or Interest-only?Repayment mortgage options guarantee that you are paying off some of your loan every month, whereas with Interest-only mortgages you pay the interest on the debt and none of the original loan. Most lenders will not usually offer interest-only deals, unless the Loan to Value (LTV) ratio is below 50% or you are looking at an investment property.

What type of scheme?As well as deciding how to repay your loan, you will also need to consider the type of scheme for your mortgage. Usually lenders offer new customers special low interest rate for a set number of years to attract them, but many include a range of different advantages and disadvantages. We can help you to evaluate them in turn.

Fixed rateGives you the security of

knowing that regardless of what happens in the market, your payment and interest

rates will stay the same. However, if rates fall – your

payments will not.

Variable rateThis rate allows payments

to fluctuate higher or lower depending on factors such as the UK economy and the lender’s appetite to retain

existing borrowers.

Discounted ratesThis product offers a discount off the Standard Variable rate for an agreed period of time,

usually 2-3 years.

Tracker ratesThis rate tracks another rate indicator, usually the Bank of England base rate. Although

this is a transparent indicator and not influenced by the

lender, if interest rates change dramatically – so will your

mortgage payments.

Standard variable ratesThis is the rate set by the lender.

After your initial promotional product has ended you would normally revert to this rate. It is

often this change that prompts people to remortgage.

The mortgage you need today may be different to the one you originally took out. It’s the job of our experts and part of the CMME mortgage review to understand exactly what you need and take you through the different options available.

Flexible mortgagesFinally you need to think about flexibility and ensure your mortgage works alongside your life.

Some options have no tie-ins and allow you to overpay as much as you want without penalty, ideal if you are considering selling/moving home in the near future or expecting a big lump sum to pay down the mortgage. Equally, knowing that you can take a repayment holiday as agreed by your lender, can make all the difference in leaner business times.

Alternatively having an offset facility is becoming much more popular. This allows you to reduce the interest you are charged on your mortgage simply by holding savings in the offset account alongside the mortgage account.This keeps your savings flexible but will reduce your monthly payment or mortgage balance – whichever is your preference. This works especially well for the contractors or self employed where income can be irregular and lump sum income payments can be frequent.

Sometimes it pays to stay put Our process will let you know for sure. It might be that you only have a small amount of existing mortgage to pay off, or your needs have remained the same and it’s better for you to renew with your current lender. You’ve still done the smart thing and called before renewing and we’ve still done our job and checked you have a full understanding of the options.

Knowing the fees that might be involved gives you insight into how much it will cost to remortgage; essentially paying off your existing lender’s mortgage with the new lender’s mortgage. Being aware of these upfront costs makes it simple for you to evaluate the total savings from switching providers and your CMME Mortgage Advisor will navigate the way.

Early Repayment Fees:Some mortgage lenders charge early repayment fees and so remortgaging too soon could cost you more than you wish. Check your terms to understand your restrictions.

Arrangement Fees:This is the fee the new lender charges for arranging your mortgage. These vary, lender to lender and property to property. It could be a set amount or a percentage of the loan.

Exit Fees:This is the fee charged by your original lender for closing your account. The cost depends on the lender but is typically between £50 to £300.

Booking or Reservation Fees: Occasionally lenders may charge an upfront fee for securing your chosen scheme. This is usually £99 but may vary.

Fees included in the remortgage process

Valuation Fees:The new lender carries out a valuation of the property to reassure itself that it is a good asset to lend against. The fee for this can vary lender to lender, or on the size of the property, but can sometimes be carried out free of charge.

Legal Fees:The good news is that usually, 8 times out of 10 in fact, there are no legal fees for you to pay on a remortgage. This is because the conveyancing fees are payed by the lender. However, if you need to make changes to the names of the people on your mortgage or title deeds, there could be fees to pay.

CMME has the financial expertise for the way you work. Not just here for mortgages, we have the specialism to guide you at all stages of your life, through business start up to retirement. So however you choose to work, CMME is your ideal partner for:

Smart financial solutions for independent workers

Contact us today:email: enquiries@cmme.co.uk

telephone: 01489 555080or use our calculator online at www. cmmemortgages.com

We look forward to finding you a smart remortgaging solution.

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CMMEYour home may be repossessed if you do not keep up repayments on your mortgage.

CMME is a trading name of CMME Mortgages and Protection Limited. Authorised and regulated by the Financial Conduct Authority (FCA reg. 414798). Registered in England No. 04886692. Registered Office: Albany House, 5 Omega Park, Alton, Hampshire, GU34 2QE.

Please be aware that Commercial Mortgages, Overseas Mortgages and some Buy To Let Mortgages are not regulated by the Financial Conduct Authority. Calls may be recorded for training and security purposes and to improve the quality of our services.

WealthThe value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.

Tax treatment varies according to individual circumstances and is subject to change.*Contractor Wealth is a trading name of Contractor Wealth Management Limited, an appointed representative of Quilter Financial

Services Limited and Quilter Mortgage Planning Limited, which are authorised and regulated by the Financial Conduct Authority. Registered Office: Albany House, 5 Omega Park, Alton, Hampshire GU34 2QE. Registered in England and Wales number 07773485.

MORTGAGESFirst time buyers

Remortgages Buy to Let

WEALTHTax

Pensions Investments

PROTECTIONIncome protection

Life insurance Critical illness

Wealth – Tax, Pensions, Investments, through Contractor Wealth a sister

company of CMME*