Popular Reasons to Remortgage in Leicester
Remortgage to Find a Better Deal
Once you head closer towards the end point of your fixed period for the mortgage you first took out in Leicester, you’ll need to start taking a look at what path you want to take next.
For the most part we tend to find that people will start looking at their options for taking out a Remortgage, as once you have gotten to this point, you’ll probably be automatically placed onto your lenders Standard Variable Rate. This situation isn’t always ideal for homeowners.
The reason that many homeowners don’t like the SVR is because the interest rates involved will generally be a lot more than they would be for your initial fixed period, which means your monthly mortgage repayments will be more than they were previously.
It’s because of this that looking for Remortgage Advice in Leicester tends to be the desired route for many homeowners.
Remortgage to Fund Home Improvements
We put a lot of effort into supporting all the different and unique customers that get in touch with us, especially when it comes to those looking to releasing equity from their homes to fund any potential home improvements.
People will usually do this when they’re getting ready to start the work on some planned larger improvements, with common examples being maybe a home extension, a new remodelled kitchen, or a loft conversion.
If you are looking at the different ways that you might be able to release a large amount of equity to put towards the funding of any new home developments, such as an extension, there are a lot of mortgage lenders out there who might wish to see any quotations that you have been given for how much the work is going to cost you.
Remortgage to Consolidate Debts
There are some homeowners out there who may look to consolidate any unsecured debts they have accrued into their mortgage, as doing this sort of thing will allow you to merge all your outgoings into a more manageable monthly payment that will keep consistent for the duration of your mortgage term.
You should always remember that this kind of process will extend your debt over the course of your mortgage term and once that reaches the end, you’ll have technically paid back a lot more overall. There is a lot for you to give plenty of consideration ahead of going into debt consolidation.
With this in mind, you should absolutely make sure that you speak to a Mortgage Broker in Leicester before you consolidate any debts into your home.
Remortgage to Remove a Name
If you are co-owning a home and are looking to remove the other party from the mortgage, this may be possible to do by taking out a Remortgage in Leicester.
Even if you are quite content to stay with the lender you’re currently taking out the mortgage with, you’ll find that you have to go through a process much like you would with a normal mortgage. This is because you need to prove to the lender that your credit is good and that you can absolutely keep up with the monthly mortgage repayments.
For a better look at how the above scenarios work or to gain a better insight into Remortgages, please feel free to scout our remortgage guides section or get in touch with a mortgage advisor in Leicester.
Why choose us for your Remortgage in Leicester?
Our team of trusted and strong-willed mortgage advisors in Leicester will be on hand to offer all of our customers a free Remortgage appointment in Leicester.
Members of our determined and approachable team are available 7 days a week, from morning until late on a night, with appointments slots ready to be booked around times that best suit your personal and work life.
Perhaps you are wondering what your options are for releasing equity from your property via a Remortgage? On the other hand it may just be that you are looking to find a better deal? Regardless of the circumstances are you at the moment, our mortgage advisors in Leicester are always on hand to discuss your mortgage options with you.
We have the ability to analyse 1000s of specialist and unique mortgage products in order to ascertain which mortgage deal is going to be the best for your personal situation.
Here at Leicestermoneyman, we are proud of the fact we can provide a fast and friendly Mortgage Advice in Leicester. We absolutely adore our job, doing everything within our power to help customers achieve their mortgage goals.
To learn more about our mortgage advice service and how happy our customers have been with the service they have received, please take a look at our genuine reviews. They are a fantastic reflection of the service we aim to provide.
Get yourself booked in for a free Remortgage appointment today. Our trusted Mortgage Advisors are always ready to get your Remortgage process started and answer any question that you may have.