Remortgage Advice in Nottingham

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Remortgaging is the act of taking out a new mortgage on a property that you own already. This will replace the current mortgage you have or allow you to borrow money against your properties value. There are lots of reasons as to why people choose a remortgage, but we often find that one of the most popular is to remortgage for better rates. 

 

A mortgage is arguably the largest financial commitment you will ever go through and should be planned thoroughly before you make any hasty decisions. It’s for this reason why would absolutely recommend that you look at the options available to you, ensuring you can get the best deals and services. Who wouldn’t want to do something that would save them money, especially on monthly payments?

 

The great news is that we will be able to do the deal searching for you, taking a look through thousands of remortgage deals on your behalf. It is our hope in doing so, that we will be able to find you the most best deal with favourable interest rates. Our trusted Remortgage Advisors in Nottingham are industry experts and are well versed in mortgage lender criteria.

 

The remortgage process may occasionally include complications. It’s for this reason why we will always recommended taking expert advice from a Mortgage Broker in Nottingham. We are known for providing all of our customers with an open and honest mortgage advice service in Nottingham. We will guide you through your entire remortgage journey, supporting you and trying to save you money too!

 

Watch Malcolm’s Remortgage Guide Video  

Before you get started with your remortgage process, we would also recommend watching Malcolm’s five-minute guide to remortgages video. This will serve to further explain the remortgage process to you. If you have any further questions or would like to get started on your remortgage, book your free remortgage review today and we will see how we can help.

 

 

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Popular Reasons to Remortgage in Nottingham

Remortgage to Find a Better Deal

As you are heading towards the end of your mortgages fixed period, you will need to take a look at your options for what to do next. Generally speaking, we find that people will opt to remortgage in Nottingham.

 

The reason for this is because if you don’t, you will be moved onto your lenders’ SVR (Standard Variable Rate), which comes with higher interest rates and in turn, high mortgage payments per month. Many seek the advice of a remortgage advisor in Nottingham, as we can help you find a much better deal with better interest rates.

Remortgage to Fund Home Improvements

Over the years, we have helped quite a lot of homeowners to obtain a remortgage on their home, as a means of releasing equity to fund any home improvements that they have been looking to have done. By home improvements, we mean any sizable renovations or additions to the property. These are known to include things like loft conversions, office spaces, reworked kitchens, extensions and more.

 

To look at what options you have available for a remortgage to release equity, book your free remortgage review online today. It’s important to remember too, that you may be asked to provide the mortgage lender with quotations for any of the works you are having done.

Remortgage to Consolidate Debts

Debt consolidation is a risky, but oftentimes great way of merging any unsecured debts you’ve gathered over time, into your mortgage. By doing this, you will make everything more manageable and consistent on a monthly basis.

 

You must bear in mind though, that this will carry on your debt for the length of your full mortgage term, meaning you could end up paying back more overall.There is a lot to consider when remortgaging to consolidate your debts.

 

We would always highly recommend that you get in touch with a specialist Mortgage Advisor in Nottingham before you secure any debts against assets, such as 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 to Remove a Name

If you happen to be the co-owner of a property in Nottingham and are looking to take your other co-owners name off your mortgage, this will have to be achieved by getting a remortgage in Nottingham.

 

Whether you go with a new lender or stay with your current one, it’ll be the same process and be reminiscent of your first mortgage. This is because you need to prove to the lender that you are financially capable of carrying on the monthly remortgage payments by yourself, without your soon to be former co-owner.

 

To learn more about the world of remortgaging or to speak with a dedicated remortgage specialist, book your free remortgage review online today.

Why choose us for your Remortgage in Nottingham?

Here at Nottinghammoneyman, we offer all of our customers, no matter the circumstance, a free remortgage review with one of our dedicated remortgage advisors.

 

Whether you’re looking for a better deal, to consolidate unsecured debts or for something else, one of our amazing mortgage advice team will have you covered. We’re open 7 days a week, offering appointments out of hours and even on some bank holidays. This means we can work around you and your busy schedule.

 

Thanks to the large panel of lenders we have access to, we are able to search through 1000s of remortgage deals, finding the best one for you and your personal and financial circumstances.

 

We would love it if you could take a look at our amazing and genuine customer reviews, left by both home buyers and homeowners with a variety of circumstances between them, who chose to use our service and didn’t regret it. These reviews are what keep us going!

 

Book your free remortgage review today with a member of our remortgage advice team in Nottingham, and we’ll get the ball rolling on your next step of being a homeowner.

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Common mortgage
questions

When you come to the end of your fixed mortgage period, you will move straight onto your lender’s standard variable rate of interest (SVR). Usually, a lender’s SVR will be higher than your current rate, meaning that you might see your mortgage payments go up each month.


To prevent this from happening, get in touch with our Mortgage Advisors in Nottingham and we will search through Remortgage deals for you so that you don’t end up paying more for your mortgage payments. We may even find you a deal that results in you paying less than you did each month!

You can remortgage and increase the size of your mortgage to pay off any unsecured debts you may currently hold. Please do not rush into this though as there are some downsides and it is best to thoroughly consider all options when looking into consolidating your debts. We recommend that customers always seek reliable Mortgage Advice in Nottingham before consolidating their debts!

Your free remortgage consultation in Nottingham should approximately last an hour. Once you have completed your consultation, we will search through thousands of remortgage deals, trying to find one that is not only better than your previous product but still benefits your personal and financial situation.


If you are interested in the offer and wish to continue, then it’s time to submit your remortgage application.

When remortgaging, the fees involved are similar to those when you started your current mortgage. Your Remortgage Advisor in Nottingham will go through all of these fees with you, making sure that you are aware of everything that you are paying for. We will compare the costs of getting a new deal vs staying on your current mortgage.

Our mortgage process consists of multiple different steps:

1. Once you get in touch, we will have you carry out our Fact Find so that we can get a bigger picture of your mortgage situation.

2. You’ll undergo your free mortgage consultation, then your dedicated Mortgage Advisor in Nottingham will begin searching for mortgage deals that are tailored to your circumstances. If we find you an offer that you are happy to proceed with, we can get the ball rolling with your mortgage application.

3. We will perform a credit check on you in order to obtain an agreement in principle. Furthermore, we will get some evidential documents from you in order to back up your mortgage application.

4. We will submit your mortgage application and wait for a formal mortgage offer to be issued.

It’s possible to obtain a second mortgage; as a Mortgage Broker in Nottingham, here are the most common reasons we see for people wanting a second mortgage:

– Debt consolidation
– Home Improvements
– Buy to Let
– Other, e.g. for a Family Member, Holiday Home, etc.

If you’ve had bad credit issues in the past, you may find it a little harder to get a mortgage, but that isn’t saying you still can’t get one!

Lenders may ask for a slightly higher deposit if you’ve had bad credit in the past. Some lenders may ask for a deposit of around 10-15%.

  • Photo ID (Driving license, Passport, etc.).
  • Proof of Address (Utility bills, tax bills, credit card statements, etc.).
  • Latest 3 months’ payslips & Latest P60 (employed applicants)
  • Latest 2 years’ tax calculations and corresponding overviews (self-employed applicants)
  • 3 months’ bank statement proving the deposit being built-up with an explanation for any large credits.

We make it so easy!
Our 4 step process

Step 1

An initial telephone call where we take some details and look at your Remortgage plan.

Step 2

A discussion about your personal requirements. You already own the property this time around, you can avoid the property chain!

Step 3

We will search and compare 1000s of products to find you the most appropriate deal.

Step 4

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.

Handy quick links

Nottinghammoneyman.com & Nottinghammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

© 2022 Nottinghammoneyman

Nottinghammoneyman, Gothic House, Barker Gate, Lace Market, Nottingham, NG1 1JU.

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