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Remortgage Advice in Leeds

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Once you are close to the end of your mortgage term, we advise that you look at Remortgaging. Our team of expert Mortgage Advisors in Leeds will look at your current deal and find a way to help you switch to one with more favorable interest rates.

 

If you’ve used a Mortgage Broker in Leeds like us before, you will receive a reminder to Remortgage several months before your term is due to finish. This way you can get the ball rolling ahead of time.

 

Remortgage rates mostly follow the base rate of the Bank of England, however, this can vary depending on the mortgage product that you take out.

Should I Remortgage with a new Mortgage lender?

We tell every customer to look around first before committing to the same lender. There could be hundreds of better deals with lower rates out there, don’t stick with the same lender just because it’s the easier approach. Keep this in mind, Lenders don’t reward loyalty; in fact, we have seen that they give offer better deals to new customers than to customers who have been with them for several years!

 

Remortgage Advice in Leeds for home improvements

Some home improvements such as extensions, or loft conversions can be huge investments that can add more value to your property. People who are not looking to enhance their property value and have found their “dream home” will also borrow for home improvements.

 

There is nothing wrong with this, gives their home a bit of a transformation. Raising this money for your home improvements works for both cosmetic changes as well as structural renovations.

 

Capital raising Remortgage Advice in Leeds

You can raise capital on your property when you remortgage, for almost any legal reason. In any case, this could be for large consumer purchases, gifts to help family members, to purchase a Buy to Let property or for debt consolidation.

 

Debt consolidation Remortgage Advice in Leeds

Adding unsecured debt to your mortgage may result in you paying back more interest overall. It’s usually because a mortgage term is usually much longer than the length of a personal loan. Though this isn’t always a guarantee and there may be another reason for this.

 

You will need to remember that you are taking unsecured debt and securing on your home, which will not sit comfortably with everyone as you are under the risk of repossession if you cannot afford your mortgage payments down the line.

 

You will need to know that if you have 0% credit cards, the interest rates that apply to the debts you wish to pay off using your Remortgage will start attracting interest too.

How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Common Remortgage situations in Leeds

As a Mortgage Broker in Leeds, we have been helping many people looking to take out a Remortgage, not to mention there is rarely a situation in which we have not come across. Below, our Mortgage Advisors in Leeds listed some popular Remortgage scenarios that they have helped assist with:

  • A change in your Marital status
  • Would you like to raise capital for a large purchase, such as Home improvements or home office?
  • You are looking into Debt Consolidation to explore the costs of combining unsecured debts on credit cards, loans, on to your mortgage.
  • Is your current Fixed-Rate Mortgage coming to an end, and you are looking for a better rate?
  • Remove a Name from a mortgage
  • Other Personal Circumstance Changes

These are just a few examples of why people might choose to Remortgage. If there is something we missed, contact us today to book your free remortgage consultation in Leeds & see how we can assist you.

Why choose us for Remortgage Advice in Leeds?

We offer all our customers a free remortgage consultation. As a trusted Mortgage Broker in Leeds, we understand the busy lifestyles of today that is why our free remortgage consultations with your Mortgage Advisor in Leeds are available 7 days a week, 8 am – 10 pm. For some reassurance check out our reviews page.

 

Our Mortgage Advisors in Leeds have a wealth of experience when it comes to helping customers remortgage. Whether you are looking to release equity or secure a better rate, we are ready to help you find the perfect remortgage deal. Unlike your Bank, we can search through thousands of remortgage products to find you the best deal for your situation.

 

For additional information, Contact us today to book your free remortgage consultation in Leeds & see how we can assist you.

What our customers say

Common mortgage
questions

There are several reasons you might consider Remortgaging in Leeds, but it’s a good opportunity to possibly save large amounts each year on your mortgage repayments if you are on your lenders SVR (Standard Variable Rate of Interest). Some people choose to Remortgage when they have come to the end of their mortgage deal. If you have equity in your property, a remortgage will also allow you to release some of this money for things like home improvements. We will compare the new products available against your current mortgage deal to work out these savings for you. 

If you’re an employee, you will usually have to supply three pay slips to prove your income. If you are Self Employed in Leeds, it is typically the latest two years’ accounts. You will also need to provide proof of ID, address and three months’ bank statements. 

Despite having shown any credit problems in the past, the good news is you may be able to get a mortgage, but it means you may be required to put down a higher deposit, e.g. 10 – 15% of the property purchase price.

You can have two mortgages running simultaneously, as long as you can afford to repay the monthly instalments on each of them. If you’re looking to accomplish something like debt consolidation or home improvements, you may be able to place a second mortgage on your home. 

As a committed Mortgage Broker in Leeds, we will carry out a Fact Find to establish your personal needs before we go ahead with advising the most suitable mortgage for your circumstances. From there, you will be credit checked, which is a requirement to obtain an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, you can be issued a formal mortgage offer. 

The fees involved in Remortgaging will be similar to those involved at the start of your existing mortgage. Your allocated Mortgage Advisor in Leeds will be able to break down all of the fees with you before proceeding. So you are able to consider these fees when comparing the savings of the new deal against the current mortgage you are on. 

Your free remortgage consultation with a Mortgage Advisor in Leeds will last around one hour. Once they have evaluated your circumstances, they will compare a potential new deal against your current product, recommending the most affordable one for your needs, with no obligation to proceed.  

Consolidating your debt into your mortgage can help you better budget your finances and bring your outgoings into one manageable monthly payment. Please do not rush into this, though, as there are some downsides. We advise that customers always seek Mortgage Advice in Leeds before consolidating debts. 

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We make it so easy!
Our 4 step process

Step 1

An initial telephone call where we take a few details and look at your Remortgage plan.

Step 2

A discussion about your requirements: you already have the property this time around, you can avoid the property chain!

Step 3

We will seek out and compare thousands of products to find you the most suitable deal.

Step 4

Application stage - We'll ensure all goes smoothly with the lender. You'll have our backing from your initial contact right through to when your remortgage process is complete.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

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UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
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