Remortgage For a Home Office

Mortgage Broker in Newcastle

Working From Home

We’re always looking for ways to maximise our income and productivity levels at work. That’s why it’s hardly a surprise, that more and more people are starting to work from home.

Whether it’s through being Self-Employed or being a home worker for an external company, it’s hard to disagree with the benefits of such an option. These can include;

  • Home Workers are often more productive (no distractions)
  • No lost travelling time (saving money and reducing stress levels)
  • Telephone and Video meetings tend to be shorter, again good for increased productivity
  • Less travelling is also better for the environment
  • Flexible – great for parents who can work around school runs
  • Better for families – even if mummy and daddy are working they are around (just in case)

Building a Home Office VS Moving Home

With the current ongoing crisis, many workers, be it by choice or with hands tied, are starting to work from home. Many experts have said that when all this clears up, a large majority of the worlds workers may just simply continue on from their home office spaces.

In the minds of many though, their home just isn’t well equipped for this kind of scenario, and feel they’d be better off moving to a bigger home with space they can utilise.

Whilst for some this might be a good idea, you may also want to look at your Remortgage options. Not only will this allow you to keep your current home, but it may allow you to save funds you would’ve otherwise spent on the various home moving fees.

The Costs of a Home Office

The average costs for a small home office are around £5,000. This includes things like a telephone, desks, computing equipment and so on. For a much bigger, more professional home office, you could be looking around £15,000.

A cost effective way of doing this, would be to take your remortgage in Newcastle out over a longer term. For example, if interest rates were 2%, taking it out over 25 years would allow you to pay off the costs of your new home office with monthly payments of as little as £20-60 a month.

Remortgage Advice in Newcastle

As an experienced mortgage advisor in Newcastle, we’ll be able to help you get started on your remortgage. If you’re looking at possibly jumping into this option, get in touch and a Remortgage Advisor in Newcastle will happily go through the process with you to see what Mortgage Advice in Newcastle will benefit you.

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