Once you start to reach the end of your fixed mortgage term, if you’re not looking to sell up and find a new property, then it’s time to enquire about starting your Remortgage application!
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 your remortgage situation, 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. 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.
We aim to provide clear & simple Mortgage Advice in Birmingham. If at any point we feel the deals we can source are not ideal for you, that that’s what we will tell you. Alternately we may suggest going down the route of a Product Transfer, which may be better for you.
During the entire process, we will be open & honest with you, completely transparent and keep you informed.
When your initial fixed period for your mortgage in Birmingham is coming to an end, you need to start looking at your options.
It’s always best to give yourself plenty of time to go through your options and get your new mortgage deal processed. Typically, this is 3-6 months before your fixed rate ending.
The vast majority will look to obtain a Remortgage. If you don’t act, you will automatically be switched onto your Lenders’ SVR (Standard Variable Rate).
The interest rate for an SVR is usually higher than your initial fixed period, which will serve to increase your monthly mortgage repayments. Hence why we recommend speaking to an expert Mortgage Advisor in Birmingham.
We have worked with many customers looking to release equity from their homes as a means of funding any home improvements.
These are usually for rather significant home improvements, such as a new kitchen remodel, home extension or loft conversion.
If you are looking to release a large amount of equity to fund any new home improvements, such as an extension, some mortgage lenders may ask you to show evidence of any quotations you have received for the work costs.
Consolidating unsecured debts into your mortgage is a possible way that you could merge all your outgoings into a manageable and more consistent monthly payment.
It is crucial to mention that doing this will extend your debt over your mortgage term and will result in you paying more overall. Debt consolidation isn’t something to take lightly. You need to do some serious research before looking into debt consolidation.
It’s vital to speak to an expert Mortgage Broker in Birmingham before securing any debt against your primary asset, in this case, is 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.
If you co-own a property in Birmingham and consider removing a name off the mortgage, you will need to get a Remortgage to achieve this.
Even if you choose to stay with your existing lender, you might find yourself in a similar process. This is because the lender needs to be confident that the person on the mortgage is creditworthy and can still afford the mortgage.
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.
As an expert Mortgage Broker in Birmingham, we 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.
The perk of using a Mortgage Broker in Birmingham like us is that we can search through 1000’s of remortgage products for you.
Our team do love what we do here at Birminghammoneyman, providing fast and friendly Mortgage Advice in Birmingham, and this shows through in our genuine customer reviews, of which we’re very proud. Feel free to have a look at these.
4.98 Rating66 Reviews
Nafesa
I have been dealing with Wendy and Malcolm in regards to my house purchase and I could not recommend these enough. A true credit to the company. Very efficient with communication and solving any issues that needed to be addressed. Would highly...
Anonymous
Incredibly helpful, supported throughout whole process
Nazeef
Fantastic experience. Charlie helped me race through to secure the best mortgage offer, best plan for life and critical illness insurance. Very approachable and responsive even with any queries I had after everything was completed.
Tyler
Had great help from both Joe and Chris and Chloe who were all friendly and always happy to help
Rosie
Made everything very easy, we are first time buyers and they couldn't have been more helpful or informative. They didn't make us feel like we were stupid for not know anything about buying a house and talked us through the entire process....
Sophie
Tom and Meghan were brilliant throughout the entire process! Both were friendly and knowledgeable and explained everything to us clearly and answered our countless questions and gave us clarification where we needed it. Both were easy to contact and...
Esme
Super helpful, made the whole process really easy and explained everything as we went along. Pretty good at keeping in contact, keeping us up to date and explaining the choices we had and then giving us the time to discuss and make those decisions.
Sheikh
I must say I am very pleased with the service I recieved from Moneyman, they set up regular calls and kept us updated throughout the checking progress. Fairly priced fees and very knowledgeable! I would highly recommend their services
Abdassami
Second time with this broker and it's been an amazing experience. Would definitely recommend. Anna and Matt were brilliant.
Nicholas
We couldn't be happier with the service provided. Matt has been professional, helpful and extremely supportive throughout our process. We will certainly be recommending you to friends. Communication was 5* and Matt was available at any point...
Asia
Great team - very good communication and very nice, helpful team that made it possible for me! Thank you for the great service.
Andrew
To say we have had a nightmare of a process of trying to buy a house would be an understatement, however Wayne and team were the bright light that helped us get through it. Can't thank them enough for their help.
Kazim
That nice 😊
Kristina
Brilliant service! Would highly recommend! Tom at the Birmingham branch was amazing. We're first time buyers so we were very unsure of the whole process and had lots of questions. Tom gave us all the support and guidance we needed and was there...
Anonymous
Moneyman were really supportive during this process. After our first house fell through following downvaluation, they were really helpful in outlining the process moving forward and supporting us through the next house sale. Couldn't be happier...
Eleanor
Thank you so much for your support Even when I Couldn't get hold of anyone else During the pandemic Your staff were there to encourage me to press on with the mortgage after Thanks for your help and the guidance Thanks for giving me a chance...
Anonymous
Very good service, unbelievable fast to apply my mortgage. Thank you all of you.
Tyler
Aaron was both very friendly and helpful over the phone.
Samina
Dale was a Very lovely person to speak to. Gave all the best advise he can and was very polite. Made me reassured with a few problems I may have but gave me a few options around getting a mortgage
Anonymous
They found the best deal to suit us and was quick and efficient with outstanding communication. Would definitely recommend!
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.
