As an experienced Mortgage Broker in Nottingham
Whether it’s to release equity, to get better rates, find a more appropriate deal for your circumstances or even something else, we’ll always do our best to ensure the process is quicker and smoother than when you first took out your initial mortgage.
Better Mortgage Rates
After a few years of paying off your mortgage, you may find that either your financial situation has changed, your personal and/or marital circumstances have changed, or you simply have decided it doesn’t work for you anymore. At this point, you may opt to Remortgage in order to access better interest-rates on future mortgage payments.
In some cases, throughout the time that has passed, you may find yourself with some credit problems, with a big one being accrued unsecured debts. A secure debt is held against an asset, like your house. If you missed that payment, your home can be repossessed.
On the flip side, if you’ve been building up big credit card debt, there is nothing to repossess and you will simply owe them money that could increase with added interest. It’s for this reason why Remortgaging to Release Equity for Debt Consolidation is a popular option.
Fixed Rate Remortgage
Once you reach the end of the mortgage term, you’ll most likely be moving onto your lenders Standard Variable Rate (SVR). The interest rates on these types of mortgage is basically lender’s discretion; they can charge you what they want to charge you.
These types of mortgages are also more expensive than a typical mortgage might be. As such, homebuyers may look to Remortgage onto a Fixed Rate mortgage, to potentially lower the monthly mortgage repayments and create financial stability for a specific length of time.
Remove a Name from a Mortgage in Nottingham
Sometimes in life, things don’t always go to plan and this is the same when it comes to relationships. Things get difficult when it comes to large, joint financial commitments, especially when it’s a mortgage. Whilst the idea of simply calling a lender and asking for someone’s name to be removed from a mortgage may sound like an easy concept, it’s quite a complicated process.
Lenders like the security of being able to chase another person for payments if one can’t keep them up, so when they’re going from one to another, with no added support, this means they will need the utmost confidence in your ability to pay back by yourself. This means subjecting you to affordability checks and a Remortgage.
Contact us today to book your free remortgage consultation in Nottingham & see how we can help you with any of these scenarios.
Free Remortgage Consultation
We are able to search through thousands of Remortgage deals, in order to find the best product for your individual needs. Quite often, those in need of a Remortgage also have more equity in their house, so have access to better products from lenders.
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.
As your mortgage advisor in Nottingham, we are here to help you. Get in touch with us today and make a date for your free mortgage consultation.