Popular Reasons to Remortgage in Lincoln
Remortgage to Find a Better Deal
Usually, when your mortgage’s initial fixed period is due to end, your option can be to look at Remortgaging. Otherwise, you will be automatically switched onto your lenders’ standard variable rate of interest (SVR).
The interest rate is usually higher than your initial fixed period, so, your monthly mortgage payments will increase. Hence this is why it’s a popular time to look at Remortgage Advice in Lincoln.
Its always best to give yourself plenty of time to go through your options and get your new mortgage deal processed. Typically, this is 3-6 months prior to your fixed rate ending.
Remortgage to Fund Home Improvements
We have worked with many customers to release equity from their homes in order to fund home improvements. These improvements can vary from a home extension, a new kitchen, or a conversion to add more loft space.
If you would like to look at your options to release an amount of equity to fund any new home developments, such as an extension. Some lenders may ask you to provide them with quotations for the work.
Remortgage to Consolidate Debts
Consolidating unsecured debts into your mortgage might decrease your outgoings into one affordable monthly payment.
However, you will be extending this debt over your mortgage term and will end up paying more further down the line. There are many factors to take into account when considering debt consolidation.
Therefore, we highly recommend that you speak to a Mortgage Broker in Lincoln before securing any debt against your home.
Remortgage to Remove a Name
Suppose you co-own a property in Lincoln. If you want to remove a name, you will need to remortgage for this to work.
Even if you are remaining with your existing lender, the process is the same. The lender needs to know that whoever stays on the mortgage is creditworthy and can afford the mortgage payments.
For more information, please visit our Remortgage guides section of the website to learn more about this topic.
Why choose us for your Remortgage in Lincoln?
We offer a free Remortgage consultation in Lincoln for all new/existing customers. Our team are available 7 days a week, working around the clock, ensuring that we have availability at a time that suits your schedule.
If you want to release equity via a Remortgage or find yourself a better deal, one of our dedicated mortgage advisors in Lincoln will look at your options to find you the most suitable deal.
We can search through 1000’s of Remortgage products to find you the best deal for your circumstances.
Helping customers achieve their Remortgage goals is the heart of this company. Here at Lincolnmoneyman, we offer open and honest Mortgage Advice in Lincoln. Please feel free to read our genuine customer reviews.