Once you start to reach the end of your mortgage fixed term, if you’re not looking to sell up and find a new property, then it’s definitely time to enquire about getting the ball rolling on your Remortgage!
There are lots of other reasons why people choose to take the route of a Remortgage. These include, but are not limited to, wanting to try and access a better interest rate on a mortgage, releasing built-up equity for home improvements and remortgaging to consolidate any potential unsecured debt. No matter what your remortgage situation is, our loyal and experienced mortgage advisors in Birmingham will work hard to guide you through the whole process and try to find you a deal that will save you money!
Our reliable and trustworthy Remortgage Advisors in Birmingham will search through 1000’s of remortgage deals on your behalf. In order to not only try and find a competitive deal but also try to find one that perfectly matches your personal and financial mortgage situation, going above and beyond to give you the highest level of service we can.
As providers of clear & simple Mortgage Advice in Birmingham, if at any point we feel the deals we can source are not ideal for you, that we can’t help you, or that another route such as a Product Transfer, will be better for you; We will be open & honest with you, being completely transparent and informing you of such.
Over the years we have come across most Remortgage situations. Below is a list of some of the most popular scenarios.
At the end of your Fixed-Rate mortgage term, if you do not choose to Remortgage, you will end up on your lenders Standard Variable Rate (SVR). These can often be higher interest rates, which in turn can create higher monthly mortgage payments. Because of this, many opt for a Remortgage as a means of finding a more favourable deal.
Many look to raise capital, in order to fund further large purchases. This can include anything from cars and weddings to home improvements, such as a new kitchen, a home office or a conservatory.
In some cases, if you’ve been on a tracker mortgage with fluctuating interest rates, you may wish to switch more towards a steadier and more consistent option, like a Fixed-Rate Mortgage. This keeps payments at a comfortable amount, without any surprises from a change in the Bank of England’s base rate!
Unfortunately, not everything goes to plan and the person you thought you would be with forever, is no longer a part of your life. Alternatively, if it’s a family member or friend, plans can change and you wish to be independent. In either of these cases, you may wish to remove them or even yourself from a mortgage. This is a tricky process, but not impossible and absolutely something your mortgage advisor in Birmingham can look into.
You should look to make seeking advice from an experienced Mortgage Advisor in Birmingham your priority when considering to secure debts against your home. This is so we can make you aware of the risks involved in carrying out debt consolidation.
Other problems that may arise, include a change in your credit circumstances leading you to be declined by your current lender or you may not be allowed to borrow as much as you’d like the second time around. In any of these cases, speak with a dedicated and knowledgeable mortgage broker in Birmingham to see what your options may be.
No matter the requirements for your mortgage, our experienced Mortgage Advisors in Birmingham will help find you the best solution for your individual circumstances.
Get in touch today to book your free remortgage consultation with a Mortgage Advisor in Birmingham and we will see what we can do to help you out.
All customers who get in touch will receive the benefit of a free initial remortgage consultation. Life can understandably get in the way, which is why we make your remortgage consultations with a Mortgage Advisor in Birmingham available on evenings and weekends, 7 days a week.
Our Mortgage Advisors in Birmingham are incredibly knowledgeable when it comes to helping customers with their Remortgages. Whether you are looking to release equity or secure a better rate, we are ready to help you get the ball rolling on a Remortgage, finding you the best possible deal we can for your circumstances. Unlike a bank, building societies and estate agents, we are able to search through 1000s of remortgage products for you.
Our team really do love what we do here at Birminghammoneyman, providing Open & Honest Mortgage Advice in Birmingham, and this really shows through in our genuine customer reviews, of which we’re very proud. Feel free to have a look at these.
Contact us today to book your free remortgage consultation in Birmingham & see how we can get the ball rolling.
If you are on your lenders SVR (Standard Variable Rate of Interest), it is more than likely that you will be able to save money! We will compare the new mortgage deals available in Birmingham against your current mortgage deal to work out these savings for you. If you have equity in your property, a remortgage would also allow you to release some of this money if required. Usually, for home improvements.
You can remortgage and increase the size of your mortgage to pay off unsecured debts. Please do not rush into this though as there are some downsides. Always seek Mortgage Advice in Birmingham before consolidating your debts!
Your free remortgage consultation in Birmingham will last around 1 hour. Your remortgage consultation can be carried out over the telephone or video call. We will then compare a new deal vs your current product and recommend the most suitable with no obligation. You can then decide whether you wish to go ahead or not.
The fees will be similar to the ones involved when you started your current mortgage. However, your dedicated Mortgage Advisor in Birmingham will run through all of the fees with you. Taking these into consideration when comparing the savings of the new deal vs your current mortgage.
As your Mortgage Broker in Birmingham, we carry out a Fact Find to establish your needs prior to recommending the most suitable mortgage for you. A credit check is then required for an Agreement in Principle and then once you have provided all the relevant documentation and a valuation of the property has been carried out a formal mortgage offer can be issued
It can be possible to get a second mortgage on your home in Birmingham for debt consolidation or home improvements. It may also be possible to take out a mortgage on a second property if it is for your own use, the use of a family member, a holiday home or a Buy to Let.
If you have had credit problems you may still be able to get a mortgage but you will likely need to put down a higher deposit than usual, perhaps 15% of the purchase price.
To prove income it’s usually three payslips for an employee and the latest 2 years’ accounts for Self Employed. In addition, you will need to produce proof of ID, address and 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.
