Let’s Get Your
Remortgage Sorted

Trustworthy mortgage
advice

A remortgage is where you take out a new mortgage on a property you already own – either to replace your existing mortgage or to borrow money against your property. We give remortgage advice in the Birmingham area and beyond.

There are many reasons why a remortgage may be suitable for you. If you are currently on a fixed-rate mortgage that is coming to its end in 6 months time then you may want to consider what other deals are available to ensure you avoid moving over to your lender standard variable rate (SVR) and there is no better way of doing this than by using a remortgage adviser.

Additionally, if you are looking to raise capital for home improvements or consolidate debts then a remortgage may be a suitable option for you.

A remortgage will allow you to reduce the loan size and potentially get a cheaper rate as a result. But watch out for any early repayment charges or exit fees you face, and compare this to how much you’d save with the new, lower mortgage. This is where The Mortgage Mom will step in with remortgage advice and will do all the research for you.

Find the right mortgage

We will go through a full breakdown of your circumstances and then we can check with each lender what they may be able to borrow. Instead of just using your current bank, you can instantly access 70+ lenders without having to lift a finger.

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Frequently Asked Questions

Before any remortgage market research is completed the first part of the remortgage process will involve an in-depth discussion about your current mortgage circumstances and the status of your credit report. The independent mortgage advice given by The Mortgage Mom will ensure you are given a broad range of mortgage options to suit your bespoke needs.

Your best option may well be to stick with your current lender and complete a simple rate switch or it may be to move to a new lender which would involve a whole new mortgage application, credit check and conveyancing work. Both of these mortgage options will be researched so you can make an informed decision as to what is the best solution for you.

Timescale
If you are currently tied into a fixed rate then you need to start looking at your remortgage options between 3-6 months before the rate expires. This will ensure that should you be moving to a new mortgage provider, you will have plenty of time for the conveyancing process to complete and the move to take place at the same time your fixed rate ends.

Credit Score
It is really important that all lenders are satisfied that you can manage your finances effectively so make sure that if you do have credit, you are making those payments each month. A few missed payments on a loan or a credit card could have a devastating effect on your ability to borrow for a mortgage.

Affordability
If you are looking to borrow more than the balance of your current mortgage you will need to check how much you can borrow.

Each lender has a different formula to work out what they could potentially lend to you. If you get The Mortgage Mom to help, we will be able to check your affordability with these lenders meaning you don’t need to spend your time doing this yourself.

Value Of Your Property
You will need to get a view of what your property is worth. It does need to be realistic as when you apply for a mortgage the lender will send out an independent valuer to confirm the figure. Once you’ve figured out how much your property might be worth now, you’ll be able to calculate what proportion of that value you still owe on your mortgage (and know how much equity you have in your home) your so-called loan-to-value ratio (LTV) – and therefore what LTV band deals you’re looking at for your remortgage.

Looking for
further advice?

We can advise on budget, affordability, credit rating, mortgage products and many other aspects of remortgaging.

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