Remortgage Advice in Coventry | Remortgage in Coventry

Remortgage Advice in Coventry

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Remortgaging is taking out a new mortgage on a home that you already live in, to replace your existing mortgage or to borrow money against the value of the property. There are a lot of reasons as to why people choose to remortgage, but one of the most popular ones we encounter is people who remortgage in order to access better interest rates.

 

A mortgage is an incredibly large financial commitment that should absolutely be planned in advance and thought carefully about. With proper planning and the help of a trusted and experienced mortgage broker in Coventry, you may be able to save yourself money and put yourself in a much better place financially, on the best deal available to you.

 

The good news is that we will take a look through 1000s of remortgage deals in order to find the most appropriate one for you, with the best interest rates. Our team of expert mortgage advisors in Coventry have a lot of industry knowledge and know where to find the most suitable mortgage deals for their customers.

 

Oftentimes the remortgage process can have a hurdle or two to overcome, which is why it is always recommended that homeowners look to find expert mortgage advice from a reputable Mortgage Advisor in Coventry. Let us try our best to save both your time and money, during your remortgage process.

Watch Malcolm’s Remortgage Guide Video

Before you get started on your very own remortgage journey, we would suggest that you take 5 minutes to watch Malcolm’s guide to remortgaging, where he reflects on the remortgage process and explains how a mortgage broker in Coventry can best help with your remortgage in Coventry.

 

How does it work?Get a quote nowMeet your advisor

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Why should I remortgage in Coventry?

As an experienced & knowledgeable providers of Mortgage Advice in Coventry, we have encountered most of the remortgage scenarios that may first come to mind.

 

Reaching the End of Your Fixed-Rate Mortgage Period

If your fixed-rate mortgage is heading towards the end of it’s period and you decide that you would rather not remortgage, you will find yourself on your lenders (SRV) Standard Variable Rate.

 

This could be more costly per month for you. A mortgage advisor in Coventry will be able to look for a better deal with more favourable rates of interest for you, hopefully saving both your time and money.

 

Remortgage for Home Improvements

Most people will take the opportunity to raise capital from their property in order to fund much larger purchases. What you do with that money is entirely up to you, though we find the majority will use it to fund home improvements, such as a new kitchen remodel or a home office.

 

To Protect Against Future Interest Rate Increases

If you have previously been on a tracker mortgage with the interest rates fluctuating, you may wish to move yourself onto a more consistent option, such as a fixed-rate mortgage. This type of mortgage keeps your payments at a set amount for the desired period, protecting you from any Bank of England base rate increases.

 

Remove Yourself or a Name From a Mortgage, Such as an Ex-Partner

Although in an ideal world everything would go our way, unfortunately this isn’t always the case and relationships do end. When a mortgage is in tow, this can be quite a tricky process. The same applies if you previously owned with a family member or friend and wish to live independently.

 

An expert mortgage broker in Coventry will do their best to help you navigate these tricky waters and set you on your way to independent home ownership.

 

Combine Unsecured Debts (e.g. Credit Card Debts) Onto Your Mortgage

We would recommend that all customers book a free remortgage review to speak with a trusted mortgage advisor in Coventry ahead of this, as it can be quite a risky process.


 

You should think carefully before securing other debts against your home. By adding your unsecured debts to your mortgage, which is secured on your home, you are potentially putting your home at risk if you cannot make the required repayments.

 

Although the total monthly cost of servicing your debt may have reduced, the total cost of repayment may still have risen as the term of your mortgage is longer than it may have taken to repay the debts originally.

 


 

There are a variety of other issues that may crop up from time to time, such as changes in financial circumstances, being declined by your current lender or having a limited borrowing capacity the second time around. If any of these also apply, get in touch as a member of our mortgage advice team in Coventry may be able to help.

 

Book your free remortgage review with an experienced mortgage broker in Coventry today and we will see how we can help.

Free Remortgage Review in Coventry

All customers who get in touch will have the benefit of a free remortgage review with an experienced mortgage advisor in Coventry. We know that life can be quite a busy one, so that is why we make ourselves available 7 days a week, from early on until late, offering mortgage appointments that suit your schedule.

 

Our open & honest mortgage advisors in Coventry have a great deal of knowledge when it comes to helping homeowners to remortgage their property. Whether you are looking to release equity or secure a better rate, we are ready and willing to help you find the perfect remortgage deal for your circumstances.

 

Always remember that as a Mortgage Broker in Coventry, we are here to help in any way that we can. Our team will do their best to answer any questions that you may have during your process.

 

We want you to feel happy, relaxed and as stress-free as possible during your process. Take a look at our genuine customer reviews and see why many come back to us for additional mortgage advice in Coventry at the point of remortgage.

 

Book your free remortgage review today and we will see how we are able to help with your remortgage goals.

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Common mortgage
questions

To back up your mortgage application, you’ll have to provide some evidential documents. This will include things like ID, bank statements, your latest P60 and payslips.

Your dedicated Mortgage Broker in Coventry will go through every step with you to make sure that you get it right!

It may require you to try and obtain a specialist product, however, yes, it can be possible to get a mortgage despite having bad credit. As a Mortgage Broker in Coventry, in the past, we’ve seen lenders request 10%-15% deposits.

Yes, you can get a second mortgage in Coventry. Here are the most common reasons why people want a second mortgage:

– Debt consolidation
– Home improvements
– Buy to Let
– For a better deal
– Divorce/Separation

Even if your situation isn’t on this list, still feel free to get in touch and we will if we can help.

The mortgage process can be made simple by using a Mortgage Broker in Coventry like us. Our mortgage process includes a simple fact find, a free mortgage consultation, then application submission. We can arrange an Agreement in Principle within 24-hours of all of this. We just need some evidential documents from you then we can get the ball rolling!

When it comes to your Remortgage, the fees involved will be similar to those when you started your current mortgage. Your dedicated Mortgage Advisor in Coventry will run through these fees with you. We will always take these fees into account when recommending a new product.

Your free remortgage consultation will last around an hour. During your consultation, you will speak with a Remortgage Advisor in Coventry who’ll ask you some questions to learn a little more about your remortgage needs.

Once they know a little more about you, they can go away and start comparing remortgage products. They will compare new deals to your current product and then recommend whether you change or not. If we find a competitive deal that will benefit you, we will recommend that you take it. However, if we feel like it’s best that you stay with your current deal, we will be open and honest with you and tell you so.

If you have built up unsecured debts (e.g. personal loans), and are struggling to pay them off, depending on the size of your mortgage and the size of the debts, you may be able to incorporate your debts into your mortgage.

As a Mortgage Broker in Coventry, we recommend that you don’t rush into debt consolidation. The topic is quite complicated and there are some downsides to doing it. In light of this, we’d advise that you speak to a Mortgage Advisor in Coventry before starting the process.

Once you complete your fixed-mortgage term, you will fall straight onto your lender’s standard variable rate of interest (SVR). Their SVR is likely to have a higher rate of interest than your current product’s rate, which means that you’ll be paying more for your mortgage payments each month.

This is why it’s important to Remortgage. Remortgaging could help you find a better mortgage deal that is not only competitive but also matches your personal and financial situation.

Our job is to try and find you a deal that saves you time and money. We will compare your previous mortgage deal to 1000’s remortgage products in order to make sure that you are gaining more switching than renewing your current deal. We will be open & honest with you during every step of the process.

We make it so easy!
Our 4 step process

Step 1

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

Step 2

A discussion about your personal requirements. You already own the property this time around, you can avoid the property chain!

Step 3

We will search and compare 1000s of products to find you the most appropriate deal.

Step 4

Application stage - We'll ensure everything goes smoothly with the lender. You'll have our support from your initial contact right through to when your remortgage process has completed.

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.

Handy quick links

Coventrymoneyman.com & Coventrymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

© 2022 Coventrymoneyman

Coventrymoneyman – Sherbourne House, Humber Avenue, Coventry, CV1 2AQ

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