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Remortgage For A Home Extension | Mortgage Advice In Lincoln

Remortgage Advice in Lincoln

Home Improvements V Moving Home

Whether it’s due to having children, moving in with a partner or just wanting more space, as a homeowner, some homeowners may get to the point where they feel they’ve outgrown the size of the property they currently inhabit. Alternatively, you may need some repair work carrying out on your property, that you don’t quite have the funds for. These are things that we find crop up a lot when speaking to customers.

Though moving house seems like the smart thing to do at first, it can become quite a stressful time for homeowners. Somebody has to come out and value your property, you have to contact an estate agent, the property has to go on sale. Then you have people coming in and out to view it and so on, and so forth. It’s a long process that many don’t enjoy.

The Costs of Home Improvements

Not only does home improvements give you a top quality property with potentially more space, but it also may save you money in the long run on various fees and can also greatly increase the value of the property for when you do wish to sell it.

Whilst it can save money, it’s worth noting that home improvements come with some substantial costs of their own. These can include;

  • Planning Permission
  • VAT
  • Architects Plans/Services
  • Materials
  • Builders
  • Building Regulation Inspections
  • An Emergency Fund – Just In Case Things Don’t Go To Plan

When To Speak With a Mortgage Broker in Lincoln

In order to go through with these home improvements, you may need to release equity from your property. To do this you will require a Remortgage which will allow the equity to be released from the property to put towards whatever work needs to be undertaken.

You’ll need to speak with a Mortgage Broker in Lincoln in order to get started on the process. Remortgages tend to go a lot smoother and quicker than the first time you took out a mortgage, so you’ll hopefully be enjoying a nice and easy process once you’ve been assigned your dedicated Remortgage Advisor in Lincoln.

Seizing The Opportunity

Right now, there may never have been a better time to jump into this than the present day. Interest rates are lower than they’ve been in a long time, allowing for your dream kitchen or conservatory plans to get started.

We have Mortgage Advisors in Lincoln working all throughout the day to help with our customers needs. If you’re looking to Remortgage your current property for home improvements, or would like to further discuss the pros and cons of that versus moving home, give us a call and an advisor will run through all your questions with you.

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