Popular Reasons to Remortgage in Newcastle
Remortgage to Find a Better Deal
When your mortgages initial fixed period is due to end, this is when people usually look at a Remortgage, as at this point, you will be automatically switched onto your lenders’ standard variable rate of interest (SVR).
This interest rate is usually higher than your initial fixed period, so in turn, your monthly mortgage payments will increase. Hence a popular time to look at Remortgage Advice in Newcastle.
Remortgage to Fund Home Improvements
We have helped numerous customers release equity to fund home improvements. These are usually substantial improvements, such as an extension, a new kitchen, or 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.
Remortgage to Consolidate Debts
Consolidating unsecured debts into your mortgage could reduce your outgoings into one manageable monthly payment.
However, usually 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.
Remortgage to Remove a Name
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 much the same. As 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.
Why choose us for your Remortgage in Newcastle?
We offer a free Remortgage consultation in Newcastle for all customers. Our team are available 7 days a week until late, 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 1000’s of mortgage products to find you the best deal for your individual circumstances.
Here at Newcastlemoneyman, we pride ourselves in 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 consultation, then please don’t hesitate to contact us. Our Mortgage Advisors will be happy to help answer all your questions and get your Remortgage process underway.