As we saw over the course of the coronavirus pandemic, the idea of working from home is now becoming increasingly popular. There are those who maybe would’ve never thought to work from home, now very fond of doing so once their hands were tied and they had to. Many are now fully converting their kitchen, living room, or even a bedroom into a home office.
A lot of these were already working from home, and some businesses now actually prefer for their employees to work from the comfort of their home, rather than going backwards and forwards to the office. This in turn would be saving you a lot on travel expenses, saving you money.
Interest rates for the time being are low, and these are the lowest interest rates we’ve seen for mortgages in a long time (at the time of writing this post; 06/07/2021), making it a good time for people to borrow money. Remortgaging in Birmingham for home improvements to make a home office can make quite a large huge difference, such as:
Especially now that we live in an age of great technological advancements, lots of homeowners consider getting a Remortgage in Birmingham for additional funding to put towards home improvements to convert a room or perhaps a garage to a new home office.
Assuming an interest rate of 2% is possible over 25 years it might cost you:
That’s probably not too much more than what you are currently paying and it can make sense for a lot of people to choose the route of improving their home, as opposed to moving, especially when you consider the stress and cost involved in buying a new home.
Many factors will impact how much you will have to pay back per month and how much you can borrow overall. It is down to exactly what you’re looking to do and how you’re looking to do it, such as the size of the extension.
You will also need to consider that if you’re looking to remortgage, you will have to go through another affordability assessment, even if you go through the same lender and just switch deals.
If you’re looking to remortgage for any home improvements, there is no better time to look for a remortgage deal than the present.
As a dedicated remortgage advisor in Birmingham, we are able to search through thousands of remortgage deals on your behalf, looking to find the perfect one for you and your situation.
Having a hard working team of friendly mortgage advisors in Birmingham by your side could help simplify the mortgage process, saving your time and money throughout.
We offer all our new or existing customers a free mortgage consultation. Get in touch with us today to book your free remortgage consultation in Birmingham & we’ll see how we are able to help.