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Remortgaging is where you take out a new mortgage on a property you already own to replace your existing mortgage or borrow money against your property value. There are many reasons people choose to remortgage, but one of the most popular scenarios is to remortgage to find a better interest rate and save money.
A mortgage is a massive financial commitment that should be planned and thought out before rushing into anything.This is why we suggest looking at your options to try to get the best deal on products and services nice and early. Who wouldn’t want to save money off your mortgage payments?
The good news is that we will do the shopping around for you by searching through thousands of remortgage deals to find you the most suitable deal with better interest rates. Our remortgage advisors in Sunderland are experts in the industry and we know exactly where we can access these competitive deals.
The remortgage process can sometimes be complicated, and that’s why we always recommended that seeking expert advice from a mortgage broker in Sunderland is the first step in the process. We are known for our open and honest mortgage advice in Sunderland. Let us help guide you through the entire remortgage process and try and save you time and money.
Before you begin your remortgage process, it’s worth watching Malcolm’s guide to remortgaging video. This will help you get a better understanding of what happens during the remortgage process.
Most homeowners are on a fixed-rate mortgage for a fixed-term which usually lasts 3-5 years. When this fixed-term ends, you will need to find another product to switch over to, otherwise you will move onto your mortgage lender’s standard variable rate of interest (SVR). This SVR is likely higher than your current rate, and that is why it can be better to remortgage to find a new, competitive rate.
Looking for a new mortgage product can often help you save money; it’s easy to do too! We recommend seeking help from a mortgage broker in Sunderland so that you can find the best deal for your personal and financial situation. If you are unable to find a better rate, we will be open and honest with you and recommend that you renew your product.
When you remortgage in Sunderland, you will take out a new mortgage product to replace your current one. A remortgage can also be known as a product transfer, however, they are slightly different.
A remortgage is when you take out a new deal with a different mortgage lender, whereas a product transfer is when you take out a mortgage product with the same lender. It depends on what you are looking to achieve to which route you go down.
There are several different reasons why someone may want to remortgage in Sunderland. Some may simply want to find a better rate, others may want to do something like remortgage for home improvements, consolidate debt or release equity.
If you are looking to achieve any of these whilst remortgaging, make sure to reach out to our mortgage advisors in Sunderland to discuss your remortgage options.
The answer to this question is usually yes, judging that you have a good credit score and you can afford your increase in mortgage payments, however, this can change from mortgage lender to mortgage lender.
Consolidating your debt into your mortgage in Sunderland can not only increase your monthly mortgage payments, but it may also extend your overall mortgage term. Mortgage lenders have to be sure that you can afford to keep up to date with these payments before accepting your application.
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.
Your free remortgage review allows you to speak with a remortgage advisor in Sunderland and discuss your remortgage options. They will take a look at your income, expenditures and affordability.
Appointments can vary in length, although, you can usually expect them to last between 30 minutes to 1 hour. Following your free remortgage review, your mortgage advisor in Sunderland will be able to begin searching for the perfect remortgage product for you and your individual circumstances.
The fees involved with remortgaging are similar to those you faced when you took out your current mortgage product. Most mortgages come with an arrangement fee – a fee for taking out the mortgage.
Speaking with a mortgage broker in Sunderland will make you aware of the costs that come with remortgaging. We will also make sure that you are getting on the best rate available to you.
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5.00 Rating13 Reviews
Georgia
Our mortgage advisor Charlie Bryson has been amazing with me and Ethan. He has helped us with everything and made sure we are doing everything correctly as we are both first time buyers.
1 year ago
Jordan
Helen was very helpful on the call to re arrange a call back to speak about our mortgage. Very pleasant phone call
2 years ago
Diane
This has been a fantastic service from the initial enquiry to getting the mortgage offer through, everything explained in detail and nothing was a problem, very helpful and professional staff. Would highly recommend using this company to anyone
2 years ago
Martin
Great team and great service. Always happy to help and they make the process easy to understand. They got me a deal I was happy with then got me a better one.
2 years ago
Paul
Spoke to Dale Hunter a few times today. Polite, professional and happy to answer any questions. Over the moon with the service received.
3 years ago
Anonymous
Our advisor was Jason Loft and all I can say is he was amazing and very polite and so was all of his team. Me and my partner are first time buyers so were quite apprehensive about the whole process. However Jason and his team gave us all the...
3 years ago
Anonymous
With the help from Jason and Laura, our mortgage process went very smoothly. As first time buyers we had many questions which they were on hand to answer promptly. Would highly recommend!!
3 years ago
Anonymous
Listened to my every need. Very polite and helpful. Spoke well and clearly understood what was being said and great advice. Thanks
3 years ago
Anna
From start to finish, the service was great. Everything was explained clearly, every little adjustment and query I asked for was expertly dealt with by Leo, who gave me new info and examples of our mortgage requests. Process was very easy to...
5 years ago
Anonymous
Very quick response from the first time I contacted them. Both Cathy and Leanne were great at keeping us informed throughout the process and always responded to our emails within a couple of hours, often less. They understood the stresses and...
5 years ago
Sofia
As a first time buyer I was pretty clueless as to what was needed and when to buy a house. The brokers at Sunderland moneyman made it very easy for me and guided me through the whole process. I’d defiantly give them a recommendation. Thank you...
5 years ago
Leon
I am a First Time Buyer and before I contacted Sunderland Moneyman I didn’t have a clue about mortgages or whether I would even qualify for one. My Advisor (Wayne) came across like he really cared and he was always on the end of the phone to...
5 years ago
Karen
Jason and his team gave an outstanding service. They were reassuring, consistent and were always on hand to give advice and support when necessary. I will be using their service again when my fixed rate ends in 2 years time. Thank you again...
5 years ago
During your free remortgage review, your mortgage advisor in Sunderland will look at your current mortgage product and discuss your current mortgage situation.
Once your advisor has this information, they will be able to begin searching for the perfect remortgage product for you.
We have 1000s of remortgage deals available to search through. On panel, we have both high street and specialist lenders that we can access as a mortgage broker in Sunderland.
Before recommending you with a remortgage product, we will make sure that you fit the product criteria and that the deal will only benefit you.
If you are happy to remortgage with our recommended product, we will begin your remortgage application process. You will need to provide us with your evidential documents to support your income, expenditures and mortgage affordability at this point in the process.
Your dedicated case manager will always keep you in the loop, updating you on the progress of your mortgage application. All that is left is to wait for your full mortgage approval!
Once you are approved, you are ready to switch to your new mortgage product. You will begin paying your new rate as soon as your current fixed-term ends.
We always want to make sure that you are on the best deal available, therefore, when you come to the end of your fixed-term on your new mortgage product, we will be back in touch to help you with your next remortgage.
We offer all our customers a free remortgage consultation. We understand today’s busy lifestyles. That is why our free remortgage consultations with your mortgage advisor in Sunderland are available 7 days a week.
Our mortgage advisors in Sunderland have a wealth of knowledge when it comes to helping customers remortgage. Whether you are looking to release equity or secure a better rate, we are ready to help you find the most suitable remortgage deal.
Always remember that as a mortgage broker in Sunderland, we are here to help you. Friendly, helpful and patient, whatever questions you may have about your remortgage will be answered by our expert team.
We want you to feel happy and relaxed throughout the whole process. Check out our customer reviews to see what others have said about our fantastic customer service!
Contact us today to book your free remortgage consultation in Sunderland & see how we can get the ball rolling.
If your fixed-rate mortgage is coming to its end and you don’t choose to Remortgage, you will end up on your lenders standard variable rate (SVR). You could be looking at paying more on your monthly mortgage payments, and this is where our mortgage advisors in Sunderland will step in, search the market, finding you are a fairer deal, saving you time and money.
Most people look to raise capital to fund further large purchases, and it’s entirely up to you what you do with the cash. However, some choose to make some home improvements in the property; these can include but not limited to a new kitchen, a home office or a conservatory.
If you’ve been on a tracker mortgage with fluctuating interest rates, you may wish to switch more towards a steadier and more consistent option, like a fixed-rate mortgage. A fixed-rate mortgage keeps the payments at a controlled amount and protects them from the Bank of England’s base rate.
Regrettably, not every relationship goes to plan. Alternatively, if it’s a family member or friend, plans can change, and you wish to be independent. Whatever the situation, you may want to remove them or even yourself from a mortgage. This process is tricky but not impossible, and absolutely something your mortgage advisor in Sunderland can look take a look for you.
It would be best to seek advice from an experienced mortgage advisor in Sunderland, your priority when considering securing debts against
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.
Other problems that may arise a change in your credit circumstances, leading you to be declined by your current lender, or you may not be allowed to borrow as much as you’d like the second time around. In any of these cases, speak with a dedicated and knowledgeable mortgage broker in Sunderland to see what your options may be.
No matter the requirements for your mortgage, our experienced mortgage advisors in Sunderland will help find you the best solution for your circumstances.
Why wait? Get in touch to book your free remortgage appointment with a mortgage broker in Sunderland, and we will see what we can do to help you out.
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Sunderlandmoneyman.com & Sunderlandmoneyman 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
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Sunderlandmoneyman.com & Sunderlandmoneyman 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
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