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Remortgage Advice in Lincoln

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Looking to Remortgage in Lincoln?

Before your fixed term mortgage is coming to an end, an option can be to consider looking to Remortgage, whether you are looking to secure a better deal or release some equity from your property. Our Mortgage Advisors in Lincoln will take a look at what options are available.

 

Customers who previously went through us to obtain their mortgage will get sent a reminder around 6 months before your fixed term ends. We chose 6 months because we felt it’s best to prepare in advance and look at your options. When your fixed term ends, you will be put onto your lender’s standard variable rate (SVR) of interest, where you will usually see your mortgage payments increase.

 

At this point, many people consider to raise capital at the time of Remortgage. This can also be referred to as releasing equity. Some people will look to raise capital to fund large purchases such as home improvements or consolidate unsecured debts.

 

We always recommend seeking professional mortgage advice before securing any debts against your home.

 

We are entirely open and honest when it comes to Mortgage Advice in Lincoln. For example, if we cannot find you a better deal and the best solution is to stay with your current lender, then that’s what we will advise.

 

We can search through thousands of Remortgage products to find you the most suitable deal for your circumstances. All our customers who get in touch will receive a free Remortgage consultation.

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We search 1000s of mortgage deals across a large number of lenders, including:

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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.

What our customers say

Common mortgage
questions

You may increase your chances of saving money if you are on your lenders Standard Variable Rate of Interest (SVR). We will compare these new products available against your existing deal, in order to work out what your savings may actually be. If you have equity in your property, a remortgage would also give you the chance to release some of this money if you need to use it for something. Usually, we see homeowners use this for things like home improvements.

You may have the option remortgage and increase the size of your mortgage in order to pay off any unsecured debts you may have gathered over time. Please do not rush into this though as there are some negatives to doing this. We recommend that customers should always seek Mortgage Advice in Lincoln before looking at consolidating debts!

Your initial free remortgage consultation in Lincoln will last approximately 60 minutes. We will then compare a new deal vs your current product and recommend the most appropriate one for your personal and financial circumstances, with no obligation to proceed if it is not for you.

The fees involved with remortgaging will be similar to when you started your current mortgage. Even still, your dedicated Mortgage Advisor in Lincoln will run through all of these fees with you. They will take these into consideration when comparing the savings of the new deal vs your existing mortgage.

As a dedicated and experienced mortgage broker in Lincoln, we work on your behalf. We will carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for your circumstances. A credit check will then be required for you to obtain an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can be issued to you by the lender.

It may be possible to get a second mortgage on your home if you’re looking to do Debt Consolidation or Home Improvements. You may also find that it’s possible to take out a mortgage on a second property if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

If you have had any type of credit problems in the past, you can still get a mortgage but you may possibly be required to put down a higher deposit than expected, perhaps 15% of the properties purchase price.

It’s usually three payslips that a lender will need to see for an employee to prove income and the latest 2 years’ accounts for Self Employed. You will also need to produce proof of ID, address and the last 3 months’ bank statements.

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.

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Lincolnmoneyman.com & Lincolnmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

© 2021 Lincolnmoneyman

Lincolnmoneyman, Commerce House, Outer Circle Road, Lincoln, LN2 4HY.

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