Popular Reasons to Remortgage in Bristol
Remortgage to Find a Better Deal
Towards the end of your mortgage in Bristol, you’ll need to start looking at your options. Most homeowners will look to take out a remortgage in Bristol, if you don’t make a decision, you will automatically be placed onto your lenders Standard Variable Rate.
We tend to find, the interest rate for an SVR is sometimes a lot more than you current initial fixed period, meaning you will be paying higher monthly repayments. This is why those looking to remortgage in Bristol will look into seeking expert Mortgage Advice in Bristol.
Remortgage in Bristol to Fund Home Improvements
Having worked in the mortgage industry for over 20 years, we have provided our full support to all new and existing customers. This is especially the case when they are remortgaging to release equity from their homes to fund any home improvements.
This is a popular option for homeowners who are looking to make a change to their home but don’t want to move. We tend to find those home improvements usually consist on a home extension, a new kitchen, or a loft conversion.
We would recommend getting in touch if you want to know which pathway is best to take, we have a good selection of mortgage lenders who may be able to help, though they will want to see any quotations for the potential costs.
Remortgage to Consolidate Debts
Some homeowners may look to put any unsecured debts into your mortgage. This is because doing so will allow you to merge all your outgoings into a much more manageable monthly payment. Better still, that payment will remain the same all throughout.
It is very important to remember though that this will extend your debt across the entire course of your mortgage term. By the time it has paid off, you will have paid a lot more overall. In general, consolidating debts is a risky process and is something to heavily consider, rather than jumping in unprepared.
Bearing this in mind, we recommended that you get in touch with a Mortgage Broker in Bristol before you look to secure any debt against 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.
Remortgage in Bristol to Remove a Name
If you currently co-own a home with a partner or friend and you are looking to take their name off the mortgage, this may be possible to do this by taking out a remortgage in Bristol.
Even if you choose to remain with your current lender, you will have to go through a similar process to the first time you took out a mortgage. This is because a lender needs to have complete confidence in your ability to pay back your mortgage, without backup from someone else.
For more information on the scenarios above or to better understand your Remortgage in Bristol, feel free to book yourself in for a free remortgage review with one of our expert Mortgage Advisors in Bristol today and we’ll do our best to answer all of your remortgage questions.
Why choose us for your Remortgage in Bristol?
Our hardworking Mortgage Advisors in Bristol will offer every customer who gets in touch their very own free remortgage review for their remortgage in Bristol.
We’re here for you all throughout the week, from early in the day until late at night, with appointments that are bookable at a time that suits your busy schedule, subject to availability.
Here at Bristolmoneyman, we are very proud that we are able to provide our customers with a open and honest Mortgage Advice in Bristol.
To find out more about our mortgage advice service and how satisfied we are with our customers at the end of their process, please take a look at our company reviews. There are plenty of reviews from homeowners just like you, who were thrilled with the service we could provide.
Book your free remortgage review today and we’ll get your remortgage in Bristol started, hopefully quicker and more streamlined than your initial mortgage already was. We’re here to provide you with a top-tier customer experience, all throughout your process.