Remortgage Advice in Harrogate

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Remortgaging in Harrogate is a process where you take out a new mortgage on a property that already are in possession of. This new mortgage replaces the current mortgage you have or gives you the option of borrowing money against your properties value. There are many reasons why people do a remortgage in Harrogate, with a popular choice usually being to find better rates.

 

A mortgage is no doubt one of the largest financial commitment you will ever go through and even with a remortgage, you should plan carefully before you make any big decisions. This is why we would recommend that you look at the options available to you, to make sure you are on the right path, with the right deals (especially if it could make you money!)

 

The good news for any homeowners looking to save some money, is that we can search 1000s of remortgage deals on your behalf, taking on the bulk of the process. In doing so, we hope that we can find the best mortgage deal for your circumstances, with interest rates that work in your favour too. Our trusted team of remortgage advisors in Harrogate are experts at remortgages in Harrogate and know all about lending criteria.

 

The remortgage process can sometimes be quite complicated. It’s for this reason why we always suggest taking expert remortgage advice from a mortgage broker in Harrogate. We work hard every day, providing our customers with a top tier, open and honest mortgage advice service in Harrogate. We will guide you throughout each step of your remortgage journey!

 

Watch Malcolm’s Remortgage Guide Video  

Before you make a start on your remortgage process, we would also highly suggest watching Malcolm’s five-minute guide to remortgages in Harrogate video. This will serve to further explain how a remortgage works. If you have any additional questions or would like to get the ball rolling on your remortgage, book your free remortgage review today and we will look at the ways we can help you.

 

How does it work?Get a Quote NowMeet Your Advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Popular Reasons to Remortgage in Harrogate

Remortgage to Find a Better Deal

As you reach the end of the fixed-period on your mortgage, you will need to review your options for which routes to take next. We generally find that people will look to remortgage in Harrogate, for a variety of reasons.

 

One of the main reasons that this is the case, is so that you don’t move onto your lenders’ SVR (Standard Variable Rate), which will likely have higher interest rate. This also means that you will have ever higher mortgage payments per month. Many take out remortgage advice in Harrogate, to find a better deal, with better rates of interest.

Remortgage to Fund Home Improvements

Over our time in the industry, we have helped quite a lot of homeowners to remortgage in Harrogate, in order to fund home improvements and modifications. This usually includes things like loft conversions, office spaces, kitchens being reworked, extensions and other things.

 

To see what options you have for taking out a remortgage to release equity, book yourself in for a free remortgage review today. It’s important to bear in mind that you could be asked to provide quotations for the work that you want to have carried out.

Remortgage to Consolidate Debts

Debt consolidation can be a risky process, though can oftentimes work in your favour if done carefully. Merging unsecured debts into one monthly mortgage payment can be a great way to manage finances and control what goes out monthly.

 

Please be wary though that your debt will carry on for the entire length of your mortgage term, meaning you could end up paying a lot more overall. It is imperative that you are always careful with debt consolidation remortgages.

 

We definitely recommend that you get in touch with a specialist mortgage advisor in Harrogate before you look at securing any debts against your main assets, such as your home.

 


 

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.

 


 

Remortgage to Remove a Name

If you are a co-owner of a property in Harrogate and are looking to remove the names of your co-owners off your mortgage, you can achieve this by taking out a remortgage in Harrogate.

No matter if you are staying with your current mortgage lender or taking out a mortgage with a new one, you’ll have a similar process to the first mortgage process you went through. This is because you will still need to show your mortgage lender that you are capable of maintaining your remortgage payments.

 

To learn more about taking out a remortgage in Harrogate, book your free remortgage review today.

Why choose us for your remortgage in Harrogate?

Here at Harrogatemoneyman, we make sure that we offer all of our customers their very own free remortgage review with one of our dedicated remortgage advisors in Harrogate.

 

No matter whether you want a better deal, are looking to consolidate your unsecured debts or are wanting to do something else, our amazing mortgage advice in Harrogate team will be here for you 7 days a week, including weekends and some bank holidays, to work around you.

 

Please feel free to take a look at our genuine customer reviews, left by both home buyers and homeowners with all kinds of personal mortgage situations that we had the pleasure of helping with. Book your free remortgage review today and speak to a member of our mortgage advice in Harrogate team about your remortgage in Harrogate.

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Common mortgage
questions

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.

We make it so easy!
Our 4 step process

Step 1

An initial telephone call where we take some details and look at your Remortgage plan.

Step 2

A discussion about your personal requirements. You already own the property this time around, you can avoid the property chain!

Step 3

We will search and compare 1000s of products to find you the most appropriate deal.

Step 4

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.

Handy quick links

Harrogatemoneyman.com & Harrogatemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

© 2023 Harrogatemoneyman

Harrogatemoneyman – Workhub Harrogate, C/O Umbrella Property Group, 12 Station Parade, Harrogate, HG1 1UE.

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