When your mortgage is coming to the end of its fixed-term, this is usually when you would look to remortgage. This could be to just secure a better deal, or you may be looking to release some equity from your property too. Either way, our mortgage advisors in Newcastle will be able to help look at your options.
If you obtained your current mortgage through us, you’ll usually be sent a reminder around 6 months prior to your fixed-term ending. This may seem a little far in advance, but it’s best to get prepared early and look at your options. As when your fixed term ends, you will be placed on your lender’s standard variable rate (SVR) of interest, which will usually see your monthly mortgage payments increase.
Many people look to capital raise at the time of remortgage, this can also be referred to as releasing equity. Generally, people will look to raise capital to fund large purchases such as home improvements or to consolidate unsecured debts. We always recommend seeking professional mortgage advice in Newcastle prior to securing any debts against your home.
We are completely open and honest when it comes to mortgage advice in Newcastle, if we can’t find you a better deal and the best solution is to stay with your current lender, then that’s exactly what we will advise. We can search through 1000s of mortgage products, to find you the best deal for your circumstances. All of our customers receive a free remortgage review.
Remortgaging in Newcastle involves taking out a new mortgage on your existing property when your current deal is about to end.
Homeowners often prefer fixed-rate mortgages to maintain consistent payments for a certain period of time and then remortgage in Newcastle for a better deal.
To be considered a remortgage in Newcastle, you must obtain your mortgage from a different lender than before. Taking out a new mortgage with the same lender is called a product transfer.
Remortgaging in Newcastle is a popular choice for those seeking the best interest rate since mortgages are a significant financial commitment.
Homeowners may choose to remortgage in Newcastle to release equity for home improvements or to consolidate unsecured debts.
Failing to remortgage in Newcastle may result in being charged the standard variable interest rate, which is generally more expensive.
It is possible to remortgage in Newcastle to incorporate unsecured debts into your mortgage, but this could result in longer mortgage terms and increased monthly payments, potentially putting your home at risk of repossession if you cannot make the necessary repayments.
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.
At Newcastlemoneyman, we offer a free remortgage review with a dedicated remortgage advisor in Newcastle who will evaluate your current mortgage deal and explore other remortgage options in Newcastle.
If a better rate is available, our team will search through 1000s of remortgage deals to find the perfect one for you and will be transparent about any fees involved.
The fees associated with remortgaging in Newcastle are similar to those associated with setting up your first mortgage, depending on the mortgage broker in Newcastle you previously used.
When comparing the savings of a new deal with your current mortgage, a mortgage broker in Newcastle will consider these fees and discuss them with you.
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Matt has been amazing. He not only found me the cheapest mortgage but also made sure that the offer is secured quickly. He remained in close contact advising me at every step of the process. He also helped me in negotiations with the vendor’s...
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Anonymous
Helped us to find a reasonable deal but also requested a better one when the lender reduced their rates
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Fantastic service and had our mortgage approved within a week of our first call! Chris and Jo were a pleasure to deal with and available to chat at a moment's notice, even at weekends. The process was incredibly smooth and any recommended parties...
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Anonymous
Both Jason and Chole were very helpful in helping me and my partner secure a mortgage despite having trouble getting one in the past.
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Michael
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Jacqueline
My experience with this company has been great and I highly recommend them. From the initial stages through to getting the offer, everyone I spoke with was informative, professional and friendly. Tom and Jonathan really helped with the initial...
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I have spoke to Arron today, I have received excellent customer service. He listened me carefully and answered all my questions promptly!! Good adviser.
2 years ago
Lydia
Amazing! UK moneyman were there every step of the way. Making sure I understood everything and taking the stress out of buying your first house. They were very responsive to emails, calls and gave excellent customer service. 10/10 could not fault...
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Kevin
All staff, very efficient,communication excellent and found us a great deal on our mortgage as my credit rating wasn’t great.Thankyou very much Leo and Newcastle moneyman.
3 years ago
david
Being self employed it was hard to get a mortgage!but thanks to Newcastle money man I’ve got one !!!thanks again would definitely recommend them!👍
3 years ago
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Professional service from start to finish. Very helpful with all of the questions I was throwing at them also. Would recommend 100% and we feel we for the prefect product mortgage for us. Thank you guys!
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During your free review, you'll have the opportunity to discuss your current situation and objectives with one of our expert remortgage advisors in Newcastle.
Our mortgage advisors in Newcastle will determine your affordability, and ask you to provide key information about your income and expenses.
Our team will search through 1000s of remortgage products to find the most suitable deal for you!
Before finalising the product, we will take into account your personal and financial circumstances.
Once your offer has been accepted, your remortgage advisor in Newcastle will submit your full mortgage application and send all supporting documents to the lender.
Throughout the process, your dedicated case manager will keep you informed throughout the entire process until you receive your formal remortgage offer and complete your purchase.
We strive to go above and beyond. In addition to securing the best remortgage deal, we will also recommend relevant insurance to protect you and your family.
When your next remortgage in Newcastle is due for renewal, we will contact you to ensure you are always on the best deal.
We offer a free remortgage review in Newcastle for all customers. Our team are available 7 days a week, to be on hand at a time that suits you.
Whether you are looking to release equity from your remortgage or just find a better deal, your dedicated mortgage advisor in Newcastle will be able to help look at your options.
We can search through 1000s of mortgage products to find you the best deal for your individual circumstances. We have a large panel of lenders that we can access to find the best product for you.
Here at Newcastlemoneyman, we pride ourselves on offering open and honest mortgage advice in Newcastle. We really love what we do, helping customers achieve their remortgage goals, please feel free to read our customer reviews.
If you would like to look at booking your free remortgage review, then please don’t hesitate to contact us. Our mortgage advisors in Newcastle will be happy to help answer all your questions and get your remortgage process underway.
When your fixed-term is coming to its end, you need to start thinking about remortgaging. If you don't remortgage, you will be automatically switched onto your lender's standard variable rate of interest (SVR).
This interest rate is usually higher than your initial fixed period, therefore, your monthly mortgage payments will increase. This is why using a remortgage broker in Newcastle can often save you time and money.
We have helped numerous customers release equity to fund home improvements. These are usually substantial improvements, such as an extension, a new kitchen, or a loft conversion.
If you are looking to release a large amount of equity to fund a significant development, such as an extension, some lenders may ask you to provide them with quotations for the work.
Consolidating unsecured debts into your mortgage could reduce your outgoings into one manageable monthly payment.
Although, this usually means that you will be extending this debt over your mortgage term and will end up paying more in the long run. There are various determining factors to look at when considering debt consolidation.
Therefore, we would always recommend speaking to a mortgage broker in Newcastle prior to securing any debt against 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.
If you co-own a property in Newcastle and are looking to remove a name. You will need to look at a remortgage in order to do so.
Even if you are remaining with your existing lender, the process will be the same. The lender needs to know that whoever is remaining on the mortgage is creditworthy and can afford the mortgage.
For more information and guidance on popular remortgage scenarios, please visit our remortgage guides section of the website.
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Newcastlemoneyman.com & Newcastlemoneyman 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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Newcastlemoneyman.com & Newcastlemoneyman 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
