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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 open and honest mortgage advice in Nottingham. We will guide you through your entire remortgage journey, supporting you and trying to save you money too!
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.
As you approach the end of the fixed term of your mortgage, it’s important to start thinking about your options for what to do next. If you don’t take any action, your lender will likely move you onto their standard variable rate of interest (SVR), which typically comes with higher interest rates and will result in higher monthly mortgage payments. This is why many homeowners in Nottingham choose to remortgage their property.
By remortgaging, you could secure a better deal with more favourable interest rates, which can result in lower monthly payments and ultimately save you money in the long run. Seeking the advice of a mortgage advisor in Nottingham can be beneficial in helping you find the best deal for your circumstances.
A remortgage advisor will assess your current financial situation and offer advice on which remortgage deals may be suitable for you. They will take into account your income, credit history, and the equity you have in your home, among other factors. They will also help you understand the various fees and costs associated with remortgaging, such as early repayment charges and arrangement fees.
Overall, a remortgage can be an effective way to manage your mortgage payments and secure a better deal. It’s always a good idea to seek professional mortgage advice in Nottingham from a remortgage advisor to help you make an informed decision about your options.
At Nottinghammoneyman, we have helped many homeowners remortgage to improve their home. The way this works is that you incorporate the costs of the home improvements, such as a loft conversions, office spaces, new kitchen, etc., into your mortgage. This does mean that your monthly mortgage payments will be increased however.
If you’re considering remortgaging for home improvements, we recommend booking a free remortgage review online with one of our dedicated remortgage advisors in Nottingham. During the review, we can help you understand your options and find the best remortgage deal for your needs.
It’s important to note that some mortgage lenders may require you to provide quotes for the work you are planning to have done before approving your remortgage application. This is because the lender will want to make sure that the work you’re planning to do will increase the value of your property and thus make their investment more secure. Your remortgage advisor can help you understand the requirements of different lenders and guide you through the application process.
Debt consolidation involves merging all of your unsecured debts, such as credit card debts and personal loans, into one larger debt that is secured against your mortgage. This can make it more manageable to keep up with your repayments and reduce the total amount of interest that you are paying. However, it is important to be aware that by consolidating your debts into your mortgage, you will be spreading the cost over a longer term, which means you could end up paying back more overall.
Before remortgaging to consolidate your debts, it is important to speak to a specialist mortgage advisor in Nottingham. They will be able to offer tailored advice and guide you through the process, as well as help you determine if debt consolidation is the best option for your personal and financial circumstances. They can also help you find the best remortgage deal to suit your needs and avoid any potential pitfalls.
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.
If you co-own a property in Nottingham and are looking to remove the other co-owner’s name from the mortgage, you will need to remortgage your property. This can be done by either switching to a new lender or staying with your current one. The remortgage process will be similar to when you first got your mortgage, as you will need to prove to the lender that you are financially capable of making the monthly payments by yourself, without the help of your co-owner.
It is important to seek professional advice from a dedicated remortgage specialist before making any decisions about co-ownership and remortgaging. They can help you understand the process and provide you with tailored advice to ensure you make informed decisions that are right for your individual circumstances. By booking a free remortgage review online with a member of our remortgage advice team, you can start the ball rolling and make the necessary steps towards taking full ownership of your property.
Our job as a mortgage broker in Nottingham is to provide you with expert and insightful remortgage advice. If you’re considering remortgaging your property or are approaching the end of your fixed term, we offer a free remortgage review with one of our dedicated remortgage advisors in Nottingham. This service is available to all customers, regardless of financial or personal circumstances.
Our remortgage advisors in Nottingham are highly trained and knowledgeable in the mortgage field. They will not only do their best to find you a better deal on your mortgage, but they can also try to help you with other remortgage options such as debt consolidation and improving your home through a remortgage.
Our team of remortgage experts are available seven days a week; you can schedule an appointment with them at a time that best suits you, whether that is outside of regular working hours or over the weekend, we want to make it nice and easy for you to fit in your review around your busy schedule.
Nottinghammoneyman has access to a large panel of both high street and specialist lenders. Each lender has a large variety of products and deals available, which means that our team can search 1000s of remortgage deals to find the best one for you. They will take into account your personal and financial circumstances to ensure that they recommend a deal that is tailored to your specific needs.
If you’re looking to use a mortgage broker in Nottingham like ourselves, you should take a look at our genuine customer reviews. These reviews are from both home buyers and homeowners who have used our service and have valued their experience with us. You never know, you may come across someone who has been through a similar situation to you.
To get started with your free remortgage review, simply book an appointment with one of our remortgage advisors in Nottingham. We will guide you through the process and help you take the next step towards being a homeowner.
4.95 Rating277 Reviews
Amy
Daniel was my mortgage advisor and he was excellent, friendly, efficient and honest in what was available to me in the current climate. Will continue to use Nottingham Moneyman for my remortgages.
Molly
Really happy with the care and support we received throughout our mortgage application! Communication was easy & response time was fast - thank you!
Emily
Leo and Jo were really great in getting us a mortgage. We’re both first time buyers and really didn’t understand the process, Leo made it very easy. He answered my calls every time without fail and held my hand through the process....
Saira
Matt Collinson and Lyndsey Smith have been exemplary. The entire service has been exceptional. Matt is unbelievably helpful and knowledgeable. The team communicate efficiently and regularly. They are patient with queries and concerns. Hugely...
Anne
We are really pleased with the advice and support we received from Matt Collinson at UK moneyman. From start to finish he was very friendly, honest, knowledgeable and very contactable throughout. When faced with a bit of a turbulent market he...
Shaun
Understood the issues, and explained the various options making it easy to decide. All done promptly too. Perfect.
Akbar
Excellent, helpful and friendly service. I have recommended to various others already.
Shawn
Excellent service helped me from start to finish with buying my property with great advice and communication throughout thanks Malcom and the team
Anonymous
Very helpful throughout the process of securing a mortgage. Happy to talk through different options and offered explanations when requested
Jacqueline
Matt Collinson and Chloe dealt with our mortgage application. Excellent service. Working late and weekends when time is of the essence.
Andrew
Fantastic service by Charlie and Lyndsey, very knowledgable and professional and helped my wife and I secure a great mortgage deal. We will definitely be using their services again in the future and I would highly recommend!
Grace
Dinah Harros and Anna Braithwaite were outstanding! No question was too silly, really informative and easy to get a hold of - thank you both so much for helping us get life insurance and a mortage for our first home.
Sean
Brilliant service, Ryan and Lyndsey have been fantastic and couldn’t do enough for us and always in touch. Finally we have our dream home! Thank you so much Lauren & Sean x
Anonymous
Absolutely outstanding service from everyone involved. Brilliant communication throughout and everything went through pain free. Already recommended to friends.
James
Excellent service from Wayne and the admin team. Can highly recommend
Nissa
Presented different options, clear advice. And obtained a fairly good deal for us. Would recommend
Robert
Absolutely brilliant service from Ryan and Jo. Would definitely use again and recommend. Fantastic
Patricia
Tom Dent was brilliant with advice and he was very professional in the way he handled the matter. He was very reassuring all the time making sure that I did not worry about anything and didn’t lose hope even when things looked like the outcome...
Laura
Wayne was lovely and I didn't feel rushed at all during the phone calls we had. No issues with the process at all. Would highly recommend
Sarah
This is 3rd time we have used moneyman and we will definitely be using them again in the future! Really helpful with the full remortgage process.
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%.
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.
