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Prior to your fixed term mortgage ending, you might want to look into remortgage. You could consider this if you are wanting to secure a better deal or release some equity from your property. There are many options available which our mortgage advisors in York can look through with you.
If you approached Yorkmoneyman previously to obtain your mortgage, you will then receive a reminder roughly 6 months before your fixed term ends. We want to make sure you have enough time to prepare in advance and explore your options.
As soon as your fixed terms ends, you will be put on the lender’s standard variable rate (SVR) of interest which is the time you will usually see your mortgage payments increase.
An option many people look at around the time of remortgage is to raise capital. This is also known as releasing equity.
Raising capital can be an option people choose as it can help towards funding for large purchases like home improvements or consolidate debts. Before securing any debts against your home, we always advise seeking professional mortgage advice in York.
Here at Yorkmoneyman, we always provide open and honest mortgage advice in York. Therefore, if we find we can’t get you a better deal and the best option is to stay with your current lender, this is what we will advise.
In order to find you the best deal that fits with your circumstance, we search through 1000’s of remortgage products. On panel, we have access to both high street and specialist mortgage products, meaning that we can pick out the perfect option for you.
Arrange your free remortgage review with a mortgage advisor in York today!
Typically speaking, your initial free remortgage consultation in York will last around 60 minutes. We will then compare a new deal vs your current product and recommend the most appropriate one, which you are not obligated to accept. You can then decide whether you want to proceed with the deal, or step back; it’s completely up to you!
Depending on your credit history and your current financial situation, you may be able to remortgage to consolidate your debts in York. Doing this will increase your mortgage size but will incorporate our debts into your mortgage.
There both ups and downsides to this though, so as a mortgage broker in York, we recommend not to rush into it.
When you finish your fixed mortgage term, you will move straight onto your lender’s standard variable rate of interest (SVR). Your lender’s SVR is likely to be of a higher rate of interest than your current mortgage deal, so you will want to remortgage in York to avoid these extra monthly costs.
The key to remortgaging is to shop around for deals. As a remortgage broker in York, we can help you with this and try to find you a perfect deal that is not only more competitive than your last product but is more suited to your personal and financial situation!
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Excellent service. Would highly recommend.
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Jason
Very good service always there to help .
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Jeff
Chris and the team have been fantastic throughout our application, very friendly and always available to contact no matter how big or small the issues were and fantastic guidance for us first time buyers! We would highly recommend using their...
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Nathan
Friendly and relatable staff. Kept us in the loop and well informed throughout the process and made it all very hassle free for us.
5 months ago
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Everything was well explained.
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Very friendly team
5 months ago
Ben
Very professional and made the whole process easy. We especially appreciated the flexibility on appointment times
5 months ago
Daniela
Incredible service, the team were amazing. We are first time buyers and every question we had they were able to hold our hand and explain things clearly. Phenomenal work. Got our mortgage offer accepted within 3 days and updated every step of the...
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Matt
Highly recommend Yorkmoneyman. Every step of the way Wayne and Jo have been extremely helpful and friendly. Wayne got us a great deal on our mortgage and he and Jo ensured we understood every detail. When we needed to switch properties, they handled...
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Katie
Excellent service. I was provided with support and advice from Leo. I began my journey in March 2023 when I initially started looking. I the did not find a property until March 2024 where I got back in contact with York money man and Leo and...
7 months ago
Dennis
I found york money man online and wasn’t disappointed. Wayne helped us get everything order and was highly efficient. The process was seamless and I would highly recommend.
8 months ago
Emma
Brilliant and detailed helped with everything effectively and efficiently. Thank you
8 months ago
Mr Henry
Absolutely fantastic service , as first time buyers the team at Yorkmoneyman made the process of applying for our mortgage unbelievably easy and stress free . We cannot recommend them enough!
8 months ago
David
Great service, really helpful in understanding our individual circumstances and getting the best deal for us. Communication was top class right throughout the process, would highly recommend.
8 months ago
Mitchell
5 stars. They have been very helpful. Made the initial process of looking for and buying a house simple. Explained all the processes in an easy to understand way. Being able to suggest solicitors and surveyors took away a massive amount of the...
9 months ago
Anonymous
Couldn’t have asked for more from Tom and Jo. Super patient and helpful throughout!
9 months ago
Joseph
Our advisor Leo was incredibly helpful throughout our process. Explained everything clearly and answered any questions we had. I would definitely recommend Moneyman for anyone looking to buy a house.
9 months ago
During your free remortgage review, your mortgage advisor in York will take a look at your current product and your financial situation. This will allow them to get a picture of potential products you may be able to access.
We will then search and compare 1000s of products to find you the most appropriate deal. We want to make sure that you are on the best mortgage rate available to you at all times.
We'll ensure everything goes smoothly with the lender. You'll have our support from our initial point of contact right through to when your remortgage process has completed.
We will also contact you when your next remortgage in York is due for renewal, ensuring you are on the most suitable deal.
Whether you are looking to remortgage to release equity or find yourself a better deal, one of our knowledgeable mortgage advisors in York will explore your options to find you the most appropriate deal. To provide you the most fitting deal for your circumstances, we search through 1000’s of remortgage products.
Our goal at Yorkmoneyman is to provide a helping hand to customers wanting to achieve remortgage goals. Our team offer open and honest mortgage advice in York so please get in touch and feel free to look at your genuine customer reviews.
All new/existing customers are offered a free remortgage consultation in York. We understand everyone's day-to-day life varies, which is why we are available 7 days a week till late to provide you with availability that suits your schedule.
Generally, you may look at the option of remortgaging when your mortgages’ current fixed period is due to end. If not, you will be automatically switched onto your lenders’ standard variable rate of interest (SVR).
If you are on the SVR, then your monthly mortgage payments usually increase because the interest rate is normally higher. This is why it’s generally the time you look at remortgage advice in York.
We recommend that you prepare in advance by looking at your options and getting your new mortgage deal completed. Usually, the ideal time to start researching for a new deal is 3-6 months before your fixed rate ending.
Through our experience as a mortgage broker in York, we find many customers look to release equity to fund home improvements. This could be for a home extension, a new kitchen or a conversion to add more loft space.
In the situation where you are looking to release equity in order to fund any new home improvements like an extension, some lenders may request you to provide them with quotations for the work.
Choosing to consolidate unsecured debts into your mortgage might decrease your outgoings into one affordable monthly payment.
The one disadvantage to this is that you will end up paying more further down the line because you will be stretching this debt over your mortgage term. When looking at debt consolidation, there are a lot of factors to consider.
Because of this, speaking to a mortgage broker in York before securing any debt against your home is highly recommended.
A remortgage involves changing your mortgage with a different lender, while a product transfer involves switching to a new mortgage product with your current lender.
Which one is best for you depends on your current personal and financial situation. In some cases, one option may help you save money whereas the other may leave you no better off.
This is where it is best to speak with a mortgage advisor in York and review your mortgage options before taking out a new product. There could be ways to save money!
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Yorkmoneyman.com & Yorkmoneyman 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
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Yorkmoneyman.com & Yorkmoneyman 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
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