Why should I bother to remortgage?

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.

Can I consolidate my debts?

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!

How does the free remortgage consultation work?

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.

Are there fees involved in Remortgaging?

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.

How does the mortgage process work?

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.

Can I get a second mortgage in Lincoln?

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.

Can I get a mortgage with previous credit problems?

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.

What documents will I need to send?

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.