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.