Let us Find you the Perfect Remortgage!
Once you’re near the end of your mortgage term, it’s advised that you start looking at a Remortgage. This is where your Mortgage Advisor in Manchester looks at your current deal and looks to help you switch to one with better interest rates.
If you’ve gotten in touch with a Mortgage Broker in Manchester like us, you’ll usually be sent a reminder around 6 months before your term is due to finish, in order to get the ball rolling ahead of time.
Remortgage rates mostly follow the base rate of the Bank of England. At the time of writing, interest rates have been at an all-time low since March 2009. This means that those who are currently on higher rates may be able to transfer to a lower rate, saving them money on their monthly repayments.
When the time comes to Remortgage, you can usually avoid the “property chain”. This is because you already own your house this time around. We will do our best to ensure that the process goes as quickly and as smoothly as possible.
Should I Remortgage with a new Mortgage lender?
We tell every customer to look around first before committing to the same lender. There could be hundreds of better deals with lower rates out there, don’t stick with the same lender just because it’s the more relaxed approach, but keep in mind.
Lenders don’t reward loyalty; in fact, we have seen that they give offer better deals to new customers than to customers who have been with them for years!
Remortgage Advice in Manchester for home improvements
It can be a massive investment as some improvements such as extensions, or loft conversions can add more value to your property. People who are not looking to increase their property value and have found their “dream home” will also borrow for home improvements.
There is nothing wrong with this, gives their home a bit of a makeover. You can increase your mortgage to pay for cosmetic alterations as well as structural work
Capital raising Remortgage Advice in Manchester
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.
Debt consolidation Remortgage Advice in Manchester
Adding unsecured debt to your mortgage may result in you paying back more interest overall. In any case, this is because a mortgage term is usually much longer than the length of a personal loan (this isn’t always the case).
You will need to consider that you are taking unsecured debt and securing on your home. Which will not sit comfortably with everyone as you are under the risk of repossession if you cannot afford your mortgage payments down the line.
You will need to know that if you have 0% credit cards, the interest rates that apply to the debts that you are considering rolling onto your mortgage will start attracting interest too.
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