Remortgage For A Home Extension | Mortgage Advice In Nottingham
Remortgage Advice in Nottingham
Moving home can be very stressful then again sometimes so can remortgaging but these situations do not have to be. Within the current situation of COVID-19 a lot of people are may be coming to a realisation that the place they’re in may not suitable for them and their family now that they are spending more time in their home.
With some lenders undecided on applications they are progressing, it can be unclear to the customers on what they are and aren’t allowed to do in the current climate if they feel they want to move home or remortgage due to their house been too small for their growing family, or they want more suitable living quarters for such things as home offices, conservatory extension or a room conversion.
Remortgages are still able to go ahead and therefore customers who are hoping to remortgage for an extensions may be allowed to do so given that their application is approved, which our Mortgage Advisors in Nottingham are happy to help with.
How to remortgage for home improvements
There are many options when you remortgage that you are able to choose from. To remortgage, you will need to review the different remortgage deals that are available to you. If you stick with your current lender you will be limited to only the products that they offer. By looking elsewhere you broaden your options of better deals and find that a much better deal that is available will save you a vast amount of money.
Currently in the mortgage market rates have never been so low, especially fixed-rate mortgages, so now has ever been a better time if you’re planning on carrying out a remortgage. With our Mortgage Advisors in Nottingham with you through the process, you will also gain access to thousands of lenders with deals that you will not stumble upon by yourself.
The cost of an extension
The costs in relation to remortgage for an extension is not set. There are multiple factors that could have an affect on the amount you have to pay back each month and the overall amount you can borrow, such as the size of the extensions and the specificity of the home improvement.
You will also need to consider that in order to remortgage, you will have to go through another affordability assessment, even if you switch deals through the same lender.
Are you looking at remortgaging for home improvements?
Mortgage rates are the lowest they’ve been for a long time so now is the time to remortgage and be on the lookout for the best deals. Your lender could even extend the time period of your remortgage process, this could mean your home improvements may start 6-9 months anyway, so it’s best to start early. When choosing to remortage in Nottingham, we always recommend that you obtain Mortgage Advice in Nottingham as soon as possible. We will be sure to search through thousands of available remortgage deals that we have at our disposal and pick out the perfect one for you. We understand that times are difficult at the moment, so having a friendly Mortgage Advisor in Nottingham by your side could make the process much more efficient.