Popular Reasons to Remortgage in York
Generally, you may look at the option of remortgaging when your mortgage’s 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.
In the case where you co-own a property in York, but you want to remove a name then remortgaging is the solution to this. The process is the same whether you stay with your existing lender or not. They will need to be assured that whoever is staying on the mortgage is creditworthy and can meet the mortgage payments.
If you are looking for more information on this, check out our remortgage guides section of the website.
Contact us today to book your free remortgage consultation in York & see how we can help you.
Why choose us for your Remortgage in Lincoln?
All new/existing customers are offered a free remortgage consultation in York. We understand customer’s day-to-day lives vary, which is why we are available 7 days a week till late to provide you with availability that suits your schedule.
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 geniune customer reviews.
As your mortgage advisor in York, we are here to help you. Contact us today and make a date for your free mortgage consultation.