Remortgages

Roger and Edwina Teasdale re-mortgaged with Model Mortgages earlier this year.

We had a repayment mortgage with £65, 000 left to pay and 14 years left to run. Although we had been loyal with our current lender since we bought the house nine years ago we were told in no uncertain terms we couldn't have the same rates that were being offered to new customers.

Edwina had just had her hours reduced at work so they were looking to try and save money on their mortgage.

Having our mortgage rearranged by Model Mortgages not only saved us an incredible £74.96 per month, we also had no valuation to pay and if we used the lenders solicitor we had no legal fees.

Not only did the Teasdale's save money but also they had a flexible mortgage with no tie-in whereby they could pay extra off at no penalty and the interest is calculated daily.

On top of all this we were given a cheque book account whereby we could draw down a further £42,000, the balance of equity in our home, should we ever need it, for holidays or home improvements at 6uilding society rates. We would certainly recommend Model Mortgages to anyone.

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Gail Harding ran ito financial difficulties after buying a three bedroomed, semi-detatched house with her partner seven years ago. The couple split up shortly afterwards, and Gail struggled to pay the £70,000 mortgage on her own. "I went to an independent financial adviser but he told me the only thing I could do was hand back the keys", she says

But Gail was detirmined to keep her home, and took on two jobs, working in a factory and as a mini-cab driver. "It was a real struggle, especially as I have four children" she says. "I fell behind on the repayments on a personal loan but I was determined to keep a roof over our heads".

She missed one mortgage payment to her lender but caught up the following month. This still appeared on her credit record as did her personal loan arrears.

This made it hard to obtain credit, and my own bank refused me an overdraft, even though I didn't owe any money.

Gail, 43 still wouldn't give up and went into business with a friend, setting up a mini-cab company. Slowly, she turned around her finances.

She was keen to switch to a cheaper mortgage mortgage but was unable to set up an improved deal with her current lender.

We re-mortgaged her to a specialist lender enabling her to keep the property and reduce her outgoings.

I was very pleased and my finances are now much healthier.

Get a decision in principal on a mortgage - complete our simple application form.