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You are here: Home / Mortgages / Remortgage / Remortgage from GMAC SPML UCB Home Loans customers

by Payam Azadi

Remortgage from GMAC SPML UCB Home Loans customers

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Remortgage options for existing Advantage, Amber Homeloans, DB Mortgages, GMAC RFC, Infinity, ITL Mortgages, Preferred Mortgages, Rooftop Mortgages, Southern Pacific Mortgages Ltd (SPML) and UCB Home Loans customers.

During the mid-2000s specialist mortgage lending was at its peak. Self certification mortgages, non status mortgages and adverse credit mortgages were common place. But as the saying goes ‘all good things come to an end’, and just as quickly as some lenders had jumped on the bandwagon the wheels came tumbling off as the securitisation model suddenly appeared flawed and frozen.

This has left a generation of mortgage holders in the wilderness. Many of those original lenders sold on their mortgage book debt adding to the isolation existing customers feel. These lender service providers are not business generators and have little or no experience in sales and do not generally offer any existing borrower deals. As such many borrowers sit on heavy reversionary rates with issues that the high street banks will not entertain.

In short, what was a vibrant market with a culture of ‘rate- tarting’ (moving from lender-to-lender) with ease is tarnished and broken. Well, that was until the start of 2013 when the Government Funding for Lending Scheme starting to oil the cogs once more. It is filtering through the system and lending appetite is beginning to recover with the emergence of a new Specialist band of lenders.

This group is not as relaxed as the bastions of 2006 but nevertheless they could be the tonic for existing customers with: Advantage, Amber Homeloans, DB Mortgages, GMAC RFC, Infinity, ITL Mortgages, Preferred Mortgages, Rooftop Mortgages, Southern Pacific Mortgages Ltd (SPML) and UCB Home Loans who are probably paying through the nose on their LIBOR trackers and variable rates.

One thing that has gone for sure is non-status and self certification. The Financial Services have outlawed this process and asked lenders to enhance that affordability calculations and verification. For you to be able to get a remortgage we will need at least one years signed off accounts showing your earnings for self employed applicants.

At Niche Advice we have access to the whole of the market including this new breed of Specialist Lenders and we have invested heavily into our true cost mortgage model which will enable clients to find out whether they will benefit from a remortgage away from current lender.

Payam Azadi is a partner at Niche Advice Ltd who are Independent Financial and Mortgage Advisers in London.

It could not be easier to find out if you will qualify for a remortgage, just complete our enquiry form on the right-hand side of this page and we will start the process.

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Payam Azadi

Author: Payam Azadi

Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.

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Filed Under: Remortgage Tagged With: DB Mortgage remortgage, GMAC remortgage, Infinity mortgages, Preferred Mortgages customers, Remortgage Advantage home loans, Remortgage Amber Home loans, remortgage from Southern Pacific Mortgages, Rooftop Mortgages remortgage, spml mortgage clients, UCB Home Loans remortgage

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AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

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Click here for our fees structure. A full detailed fee plan will accompany all our quotes.

Niche Advice Limited has a commercial arrangement under an affiliate programme with Check My File and is remunerated for referrals.

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If you wish to register a complaint, please write to us on the details below or call us on: 020 7993 2044.

Correspondence Address: Niche, Unit F6, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG.

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234567.

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Tel: 020 7993 2044

Registered Office: Niche, Unit F3, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG. Registered in England & Wales. Company registration number: 06599033.

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