Towards the end of your mortgage term, we recommended that you start looking at a Remortgage. Your Mortgage Advisor in Harrogate will look at your current deal and seeks to help you switch to one with better interest rates. If you have spoken to a Mortgage Broker in Harrogate like us, you will usually get sent a reminder before your term is due to finish, to get the ball rolling ahead of schedule.
If your current mortgage deal is coming to an end or you need to borrow some extra money, then it could be the right time for you to Remortgage. Too many customers leave it too late and end up lapsing onto their Lender’s Standard Variable Rate. If this happens then, the chances are you are paying more than you need to be doing on your mortgage payments each month.
If you feel your home would benefit from some upgrading, then it is possible to Remortgage for Home Improvements. Investing in your home can be an excellent investment. Some improvements, such as extensions or loft conversions, can put a value on your home, and you can increase your mortgage to pay for cosmetic alterations as well as structural work.
Some people borrow for Home Improvements even if they know their home may not go up in value. If you have decided you are already in your “forever home” and if you can afford it, there is nothing wrong with borrowing for this purpose at all.
You can borrow extra funds for most legal purposes, examples of this would be: You can raise capital on your property when you remortgage for almost any legal reason. In any case, this could be for large consumer purchases, gifts to help family members, to purchase a Buy to Let property or for Debt Consolidation. Remember you will pay interest on a Remortgage for many years usually, so it is essential you borrow for the right reasons.
When you add unsecured debt to your mortgage, you may end up paying back more interest overall because a mortgage term tends to be much longer than that of a personal loan (although it does not have to be). The other thing you need to think about is you taking unsecured debt and securing on your home? That does not sit comfortably with everyone as you are under the risk of repossession if you cannot afford to keep up your mortgage payments.
You will need to know the interest rates that apply to the debts that you are considering rolling into your mortgage. If you have 0% credit cards, then adding these to your mortgage will start attracting interest. It would be best if you considered all options before deciding to consolidate debts. If you have already chosen a Debt Consolidation, Remortgage could be right for you. Then it is vital you speak with one of our Mortgage Advisors in Harrogate they will help you recommend the right Remortgage and help you with your application.
No matter what type of remortgage advice you need, as a dedicated and committed mortgage broker in Harrogate, we will do all required to make sure that you end up with the best product available for your situation. We search through thousands of deals to find the best Remortgage to suit your circumstances.
You should think carefully before securing other debts against your home. By adding your unsecured debts to your mortgage, which is secured on your home, you are potentially putting your home at risk if you cannot make the required repayments.
Although the total monthly cost of servicing your debt may have reduced, the total cost of repayment may still have risen as the term of your mortgage is longer than it may have taken to repay the debts originally.
No matter which of these categories you fall into, we will do all possible to assist. Whatever your Remortgage requirements, our experienced Mortgage Advisors in Harrogate will help find you the best solution for your circumstances. Contact us today to book your free remortgage consultation in Harrogate & see how we can help you.
We offer all our customers a free remortgage consultation. We understand the busy lifestyles of today that is why our free remortgage consultations with your Mortgage Advisor in Harrogate are available daytimes, evenings or weekends. Our Mortgage Advisors in Harrogate have a wealth of knowledge when it comes to helping customers Remortgage.
Whether you are looking to release equity or secure a better rate, we are ready to help you find the perfect Remortgage deal. Always remember that as a Mortgage Broker in Harrogate, we are here to help you. Friendly, helpful and patient, whatever questions you may have with regard to your remortgage, these will be answered by our expert team.
We want you to feel happy and relaxed throughout the whole process. Check out our genuine reviews to see what others have said about our amazing customer service! As your mortgage advisor in Harrogate, we are here to help you. Get in touch with us today and make a date for your free mortgage consultation.
It is possible that your monthly payment would reduce if you went onto a lenders Standard Variable Rate (SVR), though it is also equally possible that your monthly payments could increase. Your dedicated mortgage advisor will compare the new products available against your current mortgage deal, in order to work out these savings for you. If you have equity in your property, a remortgage would also provide you with an opportunity to release some of this money if necessary for any reason. We often see this is used for things like home improvements or modifications.
You may have the ability to remortgage and increase the size of your mortgage to pay off any unsecured debts you have accrued over time. Please do not rush into this and make any hasty decisions though, as there can be some negative consequences. We would highly recommend that customers always seek Mortgage Advice in Harrogate before consolidating any of their debts!
When you speak with a mortgage advisor in your initial free remortgage consultation, the appointment will last roughly around 1 hour. Your advisor will then compare a new deal versus your current product and recommend the most appropriate one for your circumstances, with no obligation to proceed if you would rather not for any reason.
The fees involved with remortgaging your current home will be similar to the ones involved when you started the mortgage you are currently on. That being said, your dedicated Mortgage Advisor in Harrogate will run through all of these fees with you anyway, in order to give clarity on your process. They will take these into consideration when comparing the savings of the new deal against your current mortgage.
As a part of our service as a fast and friendly Mortgage Broker in Harrogate, we carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for you and your personal circumstances. A credit check will then required ahead of obtaining an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been taken out, a formal mortgage offer can then be issued to you.
If you are looking to do something like debt consolidation or any potential home improvements, you may have the option of taking out a second mortgage in Harrogate. It may also be possible to take out a mortgage on a second property for other uses, such as for yourself, a family member, a holiday home or a Buy to Let.
If you have had any kind of credit problems previously, there is a chance you can still get a mortgage. Unfortunately for this, you may possibly be required to put down a higher deposit than usual, typically 15% of the property purchase price.
An employee will generally be required to submit at least three payslips for an employee to prove income and the latest 2 years’ accounts if they are Self Employed. You will also need to provide your mortgage lender with proof of ID, address and the last 3 months’ bank statements.
An initial telephone call where we take some details and look at your Remortgage plan.
A discussion about your personal requirements. You already own the property this time around, you can avoid the property chain!
We will search and compare 1000s of products to find you the most appropriate deal.
Application stage - We'll ensure everything goes smoothly with the lender. You'll have our support from your initial contact right through to when your remortgage process has completed.
A telephone call where we can take some initial details and find out about your plan of action.
Enjoy finding a property!
Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.
Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.
