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Are you nearing the end of your initial fixed period and considering a remortgage in Manchester? If so, it’s time to start exploring your options to secure a better deal or to release equity from your property.
At Manchestermoneyman, our team of knowledgeable mortgage advisors in Manchester can provide you with the support you need to make the best decisions for your individual circumstances.
A remortgage is essentially the process of switching your mortgage to a new mortgage lender, often in order to obtain a better deal or to release equity from your property.
Many people choose to remortgage when their initial fixed period ends, as this is often when mortgage payments can increase.
At Manchestermoneyman, we believe in providing our existing customers with the support and guidance they need to make informed decisions about their mortgage. As such, we will provide you with an early reminder before your fixed term ends, giving you plenty of time to explore your options and make the necessary arrangements.
This way, you can avoid being placed on the standard variable rate, which can result in higher mortgage payments.
When you remortgage with Manchestermoneyman, we can help you explore a range of options, including releasing equity to cover finances for larger developments such as home improvements or to consolidate debt.
We provide open and honest mortgage advice in Manchester and will let you know if staying with your current mortgage lender is the better option.
Our team of mortgage advisors in Manchester will search through thousands of mortgage deals to find the most suitable deal for you and your circumstances.
If you choose to progress with the great deal that our team finds you, we will then resume your mortgage process and help with your remortgage application.
If you’re looking for open and honest mortgage advice in Manchester, get in touch with us today.
Our knowledgeable team will recommend ways for you to obtain a mortgage and provide you with the support you need to make informed decisions about your remortgage options.
Many people choose to remortgage in Manchester, in order to find a better deal on their mortgage payments.
This could mean switching to a new mortgage lender with lower interest rates, reducing their monthly payments, or accessing better terms and conditions.
By shopping around for a better deal, homeowners can save money on their mortgage and improve their financial situation.
Another popular reason for remortgaging in Manchester is to fund home improvements or renovations. This is something we see a lot as a mortgage broker in Manchester.
This can be a cost-effective way to pay for repairs, upgrades, or extensions to the home, as homeowners can take advantage of the equity in their property to secure a larger loan.
By using a remortgage in Manchester to fund home improvements, homeowners can increase the value of their property and create a more comfortable living space for themselves and their family.
For some homeowners, remortgaging in Manchester can be a way to consolidate their debts and simplify their financial situation.
By using the equity in their home to pay off high-interest debts such as credit cards, personal loans, or car finance, homeowners can reduce their monthly repayments and save money on interest.
This can be especially beneficial for those who are struggling with multiple debt payments and want to simplify their finances.
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.
In some cases, homeowners may need to remove a name from their mortgage in Manchester, such as a former partner or spouse.
This can be done by remortgaging the property and taking out a new loan in the name of the remaining owner.
This can be a way to untangle financial ties and move on from a previous relationship, while also ensuring that the remaining homeowner can continue to make mortgage payments and stay in their home.
Finally, some homeowners may choose to remortgage in Manchester, in order to release equity from their property.
This can be a way to access a lump sum of cash, which can be used for a variety of purposes such as paying for a child’s education, funding a business venture, or going on a dream holiday.
By remortgaging in Manchester, homeowners can unlock the equity in their property and turn it into a valuable asset that can help them achieve their financial goals.
If you’re happy with your current mortgage lender, a product transfer in Manchester could be a good option.
This involves switching to a different mortgage product with your existing mortgage lender, such as a new fixed-rate deal or a tracker mortgage.
Product transfers are typically quicker and easier than remortgaging, as they don’t involve a full mortgage application and underwriting process.
That being said, they may not always offer the best rates, so it’s important to shop around and compare options.
If you need to borrow more money but don’t want to remortgage in Manchester, you could consider a further advance from your current mortgage lender.
This involves taking out an additional loan on top of your existing mortgage, which is secured against the property.
Further advances can be used for a variety of purposes, such as home improvements or debt consolidation, but they may come with higher interest rates than a remortgage in Manchester.
For smaller amounts, an unsecured loan may be a more suitable option than actually taking out a remortgage in Manchester.
These loans are not secured against the value of your home, so there is no risk of losing your property if you can’t keep up with repayments.
That being said, unsecured loans generally come with higher interest rates than secured loans, and may not be suitable for large or long-term borrowing.
If you need to borrow a much smaller amount of money for a shorter period of time, you may be able to use a credit card or overdraft instead.
These options can be convenient and easy to access, but they come with high interest rates and fees, and may not be suitable for long-term borrowing or larger amounts, which is where a remortgage in Manchester might be more suitable for you.
We tend to find that when our customers who are over the age of 50+ get in touch, they are usually looking for help with one of the following situations:
Being one of the small number of companies in the UK that has access all later life mortgage products, we can usually help.
We provide expert mortgage advice in Manchester on regular mortgages, with some of our mortgage lenders going up to age 85 along with specialist products designed for older borrowers, such as term-interest only mortgages (TIOs) and retirement interest-only mortgages (RIOs).
Also, we provide open & honest later life mortgage advice on equity release in Manchester too, including both lifetime mortgages in Manchester and home reversion plans.
If you are aged 50+, it’s important that you speak with an expert later life mortgage broker in Manchester, like us, so you understand the full range of products that are available to you.
Also, it’s great to see that mortgage lenders are being innovative in this space and new/combination products are being launched to meet both consumer and regulatory demand.
To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan.
A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.
A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.
Looking for a reliable and experienced mortgage advisor to assist you with your remortgage in Manchester? Look no further than Manchestermoneyman!
We are a team of dedicated and hard-working professionals who are committed to helping our customers find the most suitable mortgage deal for their unique situation.
One of the key advantages of choosing us is that we offer a free remortgage appointment in Manchester and surrounding areas.
Our team of mortgage advisors in Manchester are available 7 days a week, from early mornings until late at night, and we offer bookable appointments that can be scheduled at a time that works for you – whether that’s during your personal or professional life.
Here at Manchestermoneyman, our trusted mortgage advisors in Manchester can help you with a wide range of remortgage options, including releasing equity or finding a better deal.
Whatever your circumstances, we are here to guide you through the process and help you make an informed decision about your remortgage in Manchester.
With access to 1000s of specialist and unique mortgage products, we have the ability to find the most suitable mortgage deal that matches your individual needs and circumstances.
We take pride in providing fast and friendly mortgage advice in Manchester, and we are committed to helping our customers achieve their property goals.
But don’t just take our word for it – check out our company reviews to see what our satisfied customers have to say about our services.
We strive to provide the highest levels of customer satisfaction, and we are always looking for ways to improve our services and exceed our customers’ expectations.
To schedule a free remortgage appointment with our trusted mortgage advisors in Manchester, simply get in touch with us today.
We’ll be happy to answer all your questions and get your remortgage in Manchester underway.
4.97 Rating407 Reviews
Emma
A fantastic company and great staff, Leo is always only a phone call away and keeps me in the loop with everything. He really goes out of his way to get the best offers and talks me through all the processes clearly and kindly. As a first time buyer...
Louise
From start to finish the whole process went very smoothly and Chris who I dealt with was very helpful and explained things through really well! I would definitely recommend them to my friends and family
Lydia
I’m 💯 going to recommend these guys. Chris was extremely lovely to deal with. No stress. They had me prepare all my documents before it was sent over to the vendor, my mortgage offer was accepted in less than a week. Nice one guys
Louise
Leo and Lyndsey have been incredibly helpful and informative from the very first conversation with each of them. They are always on hand and readily available whenever needed. UK Moneyman made this process so quick and simple! Huge thank you to both...
Christopher
Friendly, professional & very easy to deal with. Definitely recommend
Anonymous
As first time buyers this was The first mortgage broker I came across online. I was intending on finding more brokers to see what information I could acquire when buying a home. After the first consultation with Chris, I decided to use UKMoneyMan as...
Matthew
Charlie has been a massive help with the process! We basically knew next to nothing about buying a house, but Charlie answered all of our questions & helped us out massively!
Tom
Had spoken with Wayne after he helped my brother through the house buying and mortgage process a year or two earlier. He couldn't have been more helpful over the year or so it took me to find a property as I fought to find something against rising...
Kristofer
The team have been very helpful and great with communication. Would highly recommend.
Joseph
Manchestermoneyman have been fantastic throughout my mortgage process, both Malcolm for calmly and professionally walking me through my options at a difficult time, and Paula for being warm and communicative during the process. I would definitely...
Krist
Perfect service and cannot fault anything, Chris and Meghan have been top class on my application and have recommended to my family & friends!
Anonymous
Money man was super helpful, always replies and keeps you in the loop of the process. The staff are really nice and genuine not overly business oriented and pushy to go through them for everything.
Carol
I was assisted by Chris Thompson and Lyndsey Smith with a buy to let mortgage and residential mortgage. Both Chris and Lyndsey were absolutely brilliant. They researched the market thoroughly to get the best deals, acted swiftly to beat interest...
Kiranjeet
Highly recommend using Manchester moneyman, we used them to broker our mortgage 2 years ago and they proactively made contact well in advance of the fixed term coming to an end and secured us a new rate that we’re really happy with.
Natasha
UK Moneyman has been fantastic from day one, always communicating updates on progress. They have made it less stressful.
Jack
Very helpful staff, nothings too much to ask, great for first time buyers as they explain everything and ensure you understand everything
Cameron
We had an amazing experience with UK Moneyman! Our mortgage advisor Matt was very helpful and did a great job advising and finding us the best products. Matt and Lyndsey are a good team, friendly and professional. We highly recommend them to...
Kirsty
Chris and Debbie have been great in helping us find three mortgage deals now after our first 2 attempts at house purchases fell through. Always sympathetic and informative. Talking us through multiple options available to us. Explaining the process...
Toby
Many Thanks to Jason and Debbie for securing my mortgage. Would definitely recommend!
Mark
Daniel has always been very helpful. Always nice to talk to and explains everything so we understood every part of the process.
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 30 mins. 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 mortgage 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.
