If you are on your lenders SVR (Standard Variable Rate of Interest), you may increase your chances of saving money. Your dedicated mortgage advisor in Leicester will compare the new products available against your current mortgage deal to work out these savings for you. If you have any existing equity in your property, a remortgage in Leicester would also allow you to release some of this money. We often see a Remortgage to Release Equity as a means to fund home improvements.
You can Remortgage and increase the size of your mortgage to pay off any unsecured debts that you may have. Please do not rush into this though as there are some downsides. You should always seek Mortgage Advice in Leicester before consolidating any debts you have!
The duration of your free remortgage consultation in Leicester will be about 1 hour. Your advisor will compare a new deal vs your current product and recommend the most suitable one for you. You can then decide whether you wish to go ahead or not.
The fees required for your remortgage will be similar to the fees you faced when taking out your current mortgage. That being said, your dedicated Mortgage Advisor in Leicester will still run through all of the fees with you and take them into consideration when comparing the savings of the new deal vs your current mortgage.
As your Mortgage Broker in Leicester, we will carry out a Fact Find to determine your needs prior to recommending a mortgage that is the most appropriate. A credit check is then required for an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can be issued.
You may possibly be able to get a second mortgage on your home for debt consolidation or Home Improvements. The usage of a second mortgages extends to using it for yourself, a family member, a holiday home or a Buy to Let in Leicester.
If you have had problems with your credit, you can still get a mortgage, however, you may need to put down a higher deposit than usual, often 15% of the purchase price.
To prove your income amount, it’s usually the latest three payslips for an employee and the latest 2 years’ accounts for self-employed. On top of this, you will need to produce proof of ID, address and 3 months’ bank statements.