Usually with most homeowners there comes a certain point in time where your mortgage is coming to an end. At this point it is time to start to look towards a possible Remortgage. We often find that our customers get in touch three months prior to their existing fixed period ending.
Remortgaging can be a good opportunity to improve your financial stability, by giving you the option to consolidate any short-term debts. This is subject to each individual circumstance, and prior to consolidating any debt we would always recommend speaking to a mortgage advisor.
Whether you are remortgaging to release equity, to get better rates, find a more appropriate deal or more, we will always do our best to ensure the process is quicker and smoother than the first time.
Although the process is slightly more straightforward, there are still some elements that remain the same as your initial purchase. Such as, you will still need to get a valuation, as well as hiring a solicitor who will transfer the deeds from one financial institution to another.
You will also need to make sure you have the right supporting documentation, and you will be subject to the same checks as a standard mortgage application: including an affordability assessment and credit check.
As a Mortgage Broker in Bristol we have helped many people take out a Remortgage, not to mention there is rarely a situation that we have not come across. Below are some popular Remortgage scenarios that we assist with:
These are just a few examples of why people may choose to Remortgage. If there is something we missed, contact us today to book your free remortgage consultation in Bristol & see how we can help you.
We offer all our customers a free remortgage consultation. We understand the busy lifestyles of today that is why our free remortgage consultations with your Mortgage Advisor in Bristol are available daytimes, evenings, or weekends.
Our Mortgage Advisors in Bristol have a wealth of knowledge when it comes to helping customers remortgage. Whether you are looking to release equity or secure a better rate, we are ready to help you find the most appropriate remortgage deal. Unlike your Bank, we can search through 1000s of remortgage products to find you the best deal for your circumstances. Contact us today to book your free remortgage consultation in Bristol & see how we can help you.
It’s typically three payslips for an employee to prove their income and the latest 2 years’ accounts for a Self Employed applicant. You will also need to provide the lender with proof of ID, address, and 3 months’ bank statements.
Even if you have had credit problems, you may still be able to get a mortgage, though you may be required to put down a higher deposit than you otherwise would’ve, often 15% of the property purchase price.
You may find that it is possible to get a second mortgage on your home for things like debt consolidation or Home Improvements. If you are looking to take out a mortgage on a second property, either to use it for yourself, a family member, a holiday home, or a Buy to Let, this may also be possible.
As a trusted and hard-working mortgage broker in Bristol, we will carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for your situation. A credit check will be required for an Agreement in Principle. Once you have given the lender all the relevant documentation and a valuation of the property has been completed, a formal mortgage offer can be issued.
The fees involved with a remortgage will be similar to those when you started your existing mortgage. Your dedicated Mortgage Advisor in Bristol will run through all of these costs with you in your consultation. They will consider these costs when comparing the savings of the new deal vs your current mortgage.
Your initial free remortgage consultation with a mortgage advisor in Bristol will last roughly about 1 hour. They will then be able to compare a new deal against your current product and recommend the most appropriate one for your circumstances, with no obligation to you. From there, it’s up to you to decide whether you wish to go ahead with the mortgage or take a step back for the time being.
You may have the option to remortgage and increase the size of your mortgage to pay off any unsecured debts you may have accrued over time. This is not something to rush into though, as there can be some negatives to it. With our experience in the industry, we highly recommend that customers always seek Mortgage Advice in Bristol before consolidating any of their debts!
If you are on your lenders SVR (Standard Variable Rate of Interest), you increase your chances of saving money. Your assigned advisor will compare the new products available against your existing mortgage deal, in order to work out these savings for you. If you have existing equity in your property, a remortgage would also grant you access to release some of this money if it was needed for anything. Usually we see customers use this for things like home improvements.
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.
