Towards the end of your mortgage term, it is advised that you start thinking about arranging a possible Remortgage. This is where your dedicated Mortgage Advisor will take a look at your current deal and see if they can move you over to one with better rates.
If you are a previous customer of ours and are yet to get in touch with us, you will usually be sent a reminder around 6 months before your term is due to finish, allowing us sufficient time to kickstart the process and get you sorted.
Remortgage rates mostly keep in line with the base rate of the Bank of England. As we write this, interest rates have been at their lowest since March 2009. This means that those who are presently on higher rates may possibly be able to transfer to a lower rate, allowing for potential savings on mortgage repayments.
The “property chain” can generally be avoided when it comes to Remortgage time, due to you already being in possession of a property. It is our job to ensure the process goes as quickly and as smoothly as possible.
Whether you are looking to release equity, find better rates, switch over to a more appropriate deal or more, we will always do everything within our power to ensure the process is quicker and smoother than the first time you went through it.
Get in touch with us today to book your free remortgage consultation in Cardiff We will see how we can help.
Our Mortgage Advisors in Cardiff are able to search through thousands of potential Remortgage deals, in order to find the most suitable product for you, based on your personal circumstances. We regularly find that those in need of a Remortgage also have a fair amount of equity in their house, so have access to better products from the Remortgage lenders on our panel.
When you are ready to Remortgage, the “property chain” can usually be avoided. This is because you already own your house, as opposed to needing to find one. We will do our best to ensure that the process goes quickly and smoothly.
As your mortgage advisor in Cardiff, we are here to assist with your Remortgage. Contact us today and we will arrange your free mortgage consultation with you.
It can still be possible to get a mortgage, even with bad credit problems in the past. Even though it may be a little harder, it isn’t impossible!
You may have to put down a higher deposit if you have bad credit, this could be 10%-15%.
Your first job is to carry out our mortgage Fact Find so that we can get an idea of your mortgage needs and what sort of deals you want to be looking for.
Afterwards, we will book you in with a Mortgage Advisor in Cardiff who will get a couple more pieces of information from you.
Then we can arrrange an Agreement in Principle for you within 24-hours to increase the chances of the seller accepting your offer.
If you’ve found yoru dream home, and are happy with our mortgage recommendation, we can start the mortgage application process! A formal mortgage offer can take longer than 3 weeks, during which, we will keep you informed with the progress of your application.
During your mortgage application, you’ll be asked to provide evidencing documents:
– Latest 3 Payslips (Employed), Last 2 years’ Accounts (Self-Employed)
– Latest 3 Months’ Bank Statements
– Latest P60
– Photographic ID
Depending on why you want to get a second mortgage, it may be easier to get one than not.
There are various reasons why someone may want a second mortgage, for example:
– Buy to Let
– Debt Consolidation
– Home Improvements
– Second Home
– Marital / Relationship Breakdown
The same fees that were involved with your first mortgage purchase will be similar to those when you Remortgage. Your Remortgage Advisor in Cardiff will run through all of the costs and fees so that you know exactly what you are paying for.
Your free Remortgage consultation will last around 30-60 minutes. During your consultation, your dedicated Remortgage Advisor in Cardiff will learn a little more about your Remortgage needs and situation. With this information, they can then go and search for the perfect deal for you.
We will always be open and honest with you; if we can’t find you a better product, we will be transparent with you and tell you so.
Yes, you can consolidate your debts into your mortgage, but you should only do so if it’s absolutely necessary.
If you have built up any unsecured debts, you can remortgage and increase the size of your mortgage to incorporate the debt. There are downsides to debt consolidation though, so sometimes it may be beneficial to speak to a professional Mortgage Advisor in Cardiff.
You should always keep on top of when it’s time for you to Remortgage. When you come to the end of your mortgage term, you will slip onto your lender’s standard variable rate of interest (SVR). A lenders SVR is not going to be their best rate, so before you end up on their SVR, you should search for Remortgage / product transfer deals.
More often than not, assuming that mortgage payments have been kept up-to-date, people are able to access a better mortgage rate and don’t even know it. All you need to do is shop around or appraoch a Mortgage Broker in Cardiff like us.
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.
