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.