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.
If you are on your lenders SVR (Standard Variable Rate of Interest), you chances of being able to save money go up. By comparing your old deal against new ones, we will be able to work out roughly what these savings would be. A remortgage would also allow you to release any equity you have in the property. This is typically used for things like home improvements.
If you need to pay off any unsecured debts, you do have the option of remortgaging and increasing the size of your mortgage. It is advised that you carefully think about this as there are downsides. We recommend that customers always seek Mortgage Advice in Cardiff before jumping straight into debt consolidation.
Roughly your initial mortgage consultation will take around an hour. A Mortgage Advisor in Cardiff will then compare your old deal versus a potential new one, obligation free. It’s then completely your choice whether you push forward or step back.
Remortgage fees will likely be the same as they were back when you first took out your mortgage, though your dedicated Mortgage Advisor in Cardiff will go through this with you. They will take this into consideration when comparing your old deal versus a potential new one.
As your dedicated Mortgage Broker in Cardiff, we carry out a Fact Find to clarify what is required for your personal situation before we progress and recommend a potential mortgage. To obtain an Agreement in Principle we then need to conduct a credit check. Once all the relevant documentation has been presented to your advisor, and a valuation of the property has been undertaken, a formal mortgage offer can be issued.
If you are looking at things like debt consolidation or Home Improvements, then you may be able to get a second mortgage. Second mortgages may also be applicable if you are hoping to use it for yourself, a family member, a holiday home, or a Buy to Let mortgage.
You may still be able to get a mortgage with a poor credit history, but this will typically require a higher deposit than usual, sometimes around 15% of the property purchase price.
For an employee to prove income you are looking at the last 3 payslips and if you’re self-employed you’ll need the last 2 years of accounts. You will also need to provide proof of ID, address, and 3 months’ bank statements.
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.
