2 Instances When You Want a Remortgage Specialist

A remortgage specialist is actually a salesperson. This job title means the individual will ultimately profit by getting you to purchase a loan contract with the lender he or she represents. Because a remortgage specialist is selling you a product for profit, you should be careful when seeking this option. However, a remortgage specialist will be your best source of advice in a few scenarios.

#1 You Are Gifted a Home

You may receive a home as a gift from a relative. After paying taxes on the home, you will own it outright with no mortgage. In some cases, the asset will be worth much more than any other you own, and you may need liquidity more than you need the asset. A remortgage specialist can help you get a loan based on the value of the home so that you can apply a portion of the asset to debt.

#2 You Are Approaching Retirement

Remortgage specialists may prey on older individuals, so be careful when using this service in retirement. However, if you find you need liquidity to cover the expenses associated with the end of life and have not saved enough through other means, converting some of your home equity back into cash can be a beneficial decision.

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