Are you looking for a remortgage deal in Nottingham? There are plenty of competitive deals to choose from when you’re looking to find a better deal. With the uncertainty of the economy it has never been more of a good time to lock in a great mortgage rate.
Remortgaging isn’t always about looking for a better rate. There could be numerous reasons to remortgage including, but not limited to:
- Looking to make a large purchase, ie. a new car
- Looking to build up another deposit for another property
- Looking to make home improvements such as an extension or new kitchen
- Any change in circumstances, whether they are personal or financial
The remortgaging process
The process when remortgaging is very similar to when you applied for your initial mortgage. You will still need to prove your income and the lender will still look at any credit cards, debts and your credit rating.
Your circumstances may have changed since your original mortgage application and lenders want to be sure you can still afford to make the repayments. Usually things will be fine, but they still want to make sure.
Some lenders could also offer better mortgage deals than your original deal when you remortgage. This could potentially save you money over the mortgage term! For this reason it is always worth checking with a whole of market mortgage broker in Nottingham to see if you can save any money.
When Should you Remortgage?
You do not have to remortgage at all but there are many popular reasons for those who do remortgage. These include:
- Your current mortgage deal is about to end
- You want to look at a better mortgage rate
- Your home’s value has gone up (this could potentially lower your monthly payments)
- You’re worried that interest rates may be going up, or it has been announced that interest rates are rising
- You want to switch from interest-only to repayment mortgage
- You want to borrow more to pay for other things
Do you need remortgage advice in Nottingham?
To talk to us today about remortgaging your property in Nottingham, use the form below to arrange a call back. Our expert and professional mortgage broker has years of experience in finding great remortgage deals.