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If you are coming towards the end of your initial fixed period, it’s time to Remortgage. You might want to look at securing a better deal or to look into releasing some equity from your property. Either way, our knowledgeable team of Mortgage Advisors in Manchester can support you in exploring these options.
Here at Manchestermoneyman, our existing customers who approached us to obtain their mortgage initially will receive a reminder from our team before their fixed term ends. The early reminder is something we do in order for you to be prepared early. In this time, you can look into your options. If you don’t do this before your fixed term ends, you will automatically be placed on the standard variable rate which will likely make your mortgage payments increase.
Many people pick the option to capital raise when they Remortgage. Also known as releasing equity, a lot of people do this so they can cover finances for any larger developments like home improvements, or to consolidate debt.
Open and honest Mortgage Advice in Manchester is an element our team provide. With this in mind, we will let you know if staying with your current lender is the better option.
To find the most suitable deal for you and your circumstances, our team search through thousands of mortgage deals. If you are looking to progress with the great deal that our team finds you, we will then resume your mortgage process and help with your Remortgage application.
Get in touch with an open and honest Mortgage Broker in Manchester today and our knowledgeable team will recommend ways for you to be able to obtain a mortgage.
If you are coming towards the end of your fixed term for your mortgage in Manchester, it’s best that you start debating which routes you are going to take.
As a Mortgage Broker in Manchester, we usually find people look into obtaining a Remortgage because they are not wanting to be switched automatically onto your lenders Standard Variable Rate (SVR). This option is usually less favourable to a lot of customers.
An interest rate for an SVR is normally greater than your initial fixed period, this results in your monthly mortgage repayments increasing.
Due to this, it’s common for homeowners to seek advice for your Remortgage in Manchester.
Our team have provided expert support to a range of customers with different situations, however, all wanting to release equity to fund any home improvements.
Some of these home developments are usually large projects like a home extension, a new kitchen model or a converted loft.
In the case where you are looking to release equity to fund large projects like an extension for your home, you may find the majority of mortgage lenders will request any evidence like quotations you’ve been given to provide the price of the work taking place.
Remortgaging with this option in mind allows homeowners to consolidate any unsecure debt in the form of a monthly payment that will stay consistent throughout your term.
The consequence of this, however, is that your debt will be extended over your time of the mortgage term which means you will have to pay more overall by the end of it. This option is one that you need to think about carefully.
Approaching a Mortgage Broker in Manchester is something we advise you do prior to securing any debt against 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.
You can look to Remortgage in Manchester if you co-own a home and are wanting to remove a name from the mortgage.
Regardless of if you decide to stay with your current lender or not, you’ll still be going through a similar process. Like with the majority of mortgages, the lenders need to be sure that the person who is on the mortgage can afford it and, in this case, they will want to be sure that the person who is on the mortgage can afford the payments and have good credit.
Check out our Remortgage guides for more information on any of the scenarios or you are wanting a general understanding of Remortgages.
Our team of dedicated and hard working mortgage advisors will offer all of our brilliant customers a free Remortgage consultation in Manchester & surrounding areas.
We have members of our team available 7 days a week, from early on until late at night, with bookable appointments that work around your personal and professional life.
If you are perhaps looking at your options to release equity from your Remortgage? On the other hand you maybe are just looking to find a better deal? Regardless of your circumstances, our mortgage advisors in Manchester are ready, willing and able to analyse your mortgage options with you.
We are able to take a look through 1000s of specialist and unique mortgage products in order to find the most suitable mortgage deal for your individual situation.
Here at Manchestermoneyman, we are super proud of our ability to provide fast and friendly Mortgage Advice in Manchester. We absolutely love what we do, ensuring customers can reach their mortgage goals.
To learn more about the service we provide and the levels of customer satisfaction we strive for, please take a look at our company reviews. You’ll be sure to see many happy customers who trusted us to help reach their property goals.
If you would like to book a free Remortgage appointment, please feel free to get in touch with us today. Our trusted Mortgage Advisors are on hand to help answer all your questions and get your Remortgage process underway.
4.96 Rating376 Reviews
Denise
All staff very helpful, respond quickly to any issues,questions you may have, helped me find the right mortgage for me, would highly recommend moneyman to everyone.
Loredana
Leanne was lovely, she called me an answer all my questions, really recommend using the service.
Raja
Ryan Coulson is a brilliant and very knowledgeable mortgage advisor. He listened to my situation attentively and provided answers to all my questions in great detail. I am really happy I got in touch with him and I am sure he will enable me to get...
Jemma
Amazing service from Matt & Louise from the very start. They’ve both been approachable, knowledgable & really helpful. As first time buyers with a 5% deposit, we didn’t have a clue where to start. We now have a mortgage offer...
James
Brilliant from day one! Jason was super quick to get in touch with us, really easy to talk to and very clear in his explanations etc. As first time buyers we weren't too sure on what to do and how it all works etc. We got the AIP fairly...
Louise
Amazing service. As first time buyers we did not know the process of purchasing a house and getting a mortgage. Jason Loft was very informative and always made himself available whenever we were unsure on something. They're very prompt with...
Anonymous
Great communications, they made the whole house-buying process a lot less daunting by explaining all the steps and helping out throughout the way. Highly recommended!
Chloe
Matt and Megan have both been fantastic and we couldn't have done this process without them. Always available to speak to us when we had any questions and kept us informed throughout.
Stephen
We were delighted with the level of service we received from Manchester Moneyman! Highly recommend!
Daniel
When it comes in terms of mortgage Manchester money man is the best network in the UK . YOU can't take it away from them. For TOM and MEGHAN you guys amazing ...You rock, thanks.
Charlotte
Our advisor was friendly, approachable, knowledgable and was obviously experienced. He explained everything in a way that we could understand and made sure he was available to answer questions even outside of normal work hours which was much...
Barbara
I can't recommend this service enough. Just had my mortgage agreed, and they've stayed in close contact throughout the process. I couldn't have done it without them as my circumstances were not straightforward being an older applicant...
Zuzanna
Manchester Moneyman has really made getting a mortgage seem quick, simple and stress-free. I would especially like to thank Dinah and Anna for being absolutely amazing in guiding us through this process, it has been surprisingly enjoyable and cannot...
Rachael
Manchester money man were a massive help with our mortgage application and the whole process. Jason was always fast at responding and talked us through the whole process of buying a house, which was incredibly useful to us as first time buyers!
James
Having Manchester Moneyman as our Broker was amazing, Dinah and Anna made the hole thing so kuchen easier for us and really helped us out when making the choices we made and ensuring that we had all our questions answered, Dinah would have regular...
Natalie
I couldn’t recommend anymore, Matt and Molly have been fantastic after months of obstacles from the bank and things not looking great with me being a single mum of two and a massive childcare bill, they didn’t stop or give up when it was...
Anonymous
Excellent service, very straightforward.
Anonymous
Great customer service and found us a great deal. Really helpful taking us through the whole process as first time buyers and where always on hand to help with any questions. Definitely recommend!
Anonymous
I recently used Manchester Moneyman to simultaneously help with a BTL remortgage and a residential mortgage. I found them to be very helpful, communicating the options to me well and keeping me informed of progress throughout. I would recommend...
Andrea
They are the best, It was my first time applying for a Mortgage and they explain everything, no delays, excellent customer service, I am happy I choose them to Advise us!! 100% recommend
If you are on your lenders SVR (Standard Variable Rate of Interest), you may find yourself in a better position to save money. As a trusted and dedicated Mortgage Broker in Manchester, we are able to compare the new products available against your current mortgage deal, in order to figure out what these savings may be. If you have equity in your property, a remortgage would also give you the option of releasing some of this money if you need it. Usually, people use this route for things like home improvements.
You may be able to remortgage and increase the size of your mortgage, in order to pay off any unsecured debts you may have accrued over time. This is not something we recommend rushing into this though, as there are some downsides to this route. We highly suggest that customers always seek Mortgage Advice in Manchester before consolidating any debts they may have.
Typically your initial free remortgage consultation with a Mortgage Advisor in Manchester will last about an hour. We will then be able to compare a potential new deal against your current product, recommending the most appropriate one for your needs, with no obligation to proceed if you decide not to do so.
The fees involved in Remortgaging will be similar to the ones involved at the start of your existing mortgage. Your dedicated Mortgage Advisor in Manchester will be able to run through all of the fees with you prior to making any decisions, able to take these fees into consideration when comparing the savings of the new deal against the current mortgage you are on.
As trusted Mortgage Advice professionals in Manchester, we will carry out a Fact Find to establish your personal needs before we go ahead with recommending the most suitable mortgage for your situation. From there you will be credit checked, which is a requirement to obtain an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, you can be issued a formal mortgage offer.
If you’re looking to achieve something like debt consolidation or home improvements, you may be able to place a second mortgage on your home. If you’re looking to use it for yourself, a family member, a holiday home or a Buy to Let, a second mortgage on that property may also be an option.
If you have struggled with credit problems in the past, you may still be eligible for a mortgage, though a lender may possibly require you to put down a higher deposit than expected. This can be something like 15% of the property purchase price.
In order for an employee to prove their income, it’s usually 3 payslips and the last 2 years’ accounts if you are self-employed. You will also need to provide some 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.
