When you are nearing the end of your fixed-rate mortgage, if you are like the majority of homeowners, you will be looking at a remortgage in Derby. The good news for you, is that you are able to remortgage as many times as you like, yet this doesn’t necessarily mean that you should.
Chatting with an expert mortgage advisor in Derby about your remortgage options could save you hundreds of pounds down the line. In addition to this, some people remortgage to release equity, which depending on your reasons for doing so, can be a financial helping hand.
Some may use that equity to remortgage for home improvements. Others may remortgage in Derby to free up enough equity to put down a deposit on an additional home, so long as you are able to maintain your monthly mortgage payments on two properties.
Whilst you generally won’t have any restrictions, if you do actually choose to remortgage in Derby before your fixed rate period is set to conclude, you may end up having to pay an early repayment charge (ERC).
If you took out a five year fixed-rate mortgage, then we would suggest that you remortgage in Derby once your deal has ended. Failing to do so could see you land on your lender’s standard variable rate (SVR), which can often be much higher interest rate than the initial mortgage deal.
It will usually depend on the reason you are looking to remortgage early in Derby. There are many homeowners who will choose to release equity in their property, in order to take out any necessary home improvements or to save themselves some money.
Make sure that you look at your agreement with your mortgage lender, as you will generally have to pay a early repayment charge, which is typically charged at a percentage of the remaining mortgage amount. Additionally, there may also be an exit fee to cover the companies admin costs.
Another benefit is having the option to lock into a new deal, once your current deal ends. That way, if rates do go up at any point, you’ll be safe in the knowledge that your new mortgage will remain unaffected.
As long as you are able to show that you can keep up all your repayments, then it may still be possible to remortgage with bad credit in Derby. The longer ago your credit issues are, the better your chances. Some mortgage lenders might ignore ‘minor’ issues, such as missed mobile contract payments.
As is the case with any remortgage in Derby, the interest rate that is payable will entirely depend on your credit score and also the amount of equity in your home. With bad credit, it’s often quite high. You can also look at capital raising when you get in touch for remortgage advice in Derby.
We would usually recommend that you start looking into your remortgage options around 6 months before your fixed mortgage period is set to end.
This will hopefully give you enough time for you to take out remortgage advice in Derby from an expert in the industry, as well as make sure your new mortgage is set up and ready to start just as your last deal is about to finish.
On the other hand, you may want to raise capital because your home is now worth much more money since you initially bought it. In this situation, it might be worth taking out a remortgage early to make an investment in a buy to let property or use the raised capital to make home improvements.
There is generally no limit on how many times you can remortgage your property, though most people will do so once their fixed-rate mortgage period is about to end.
Whether you end up remortgaging in Derby early or once your fixed-rate mortgage deal has ended, we would highly suggest enquiring for remortgage advice in Derby so that you can make sure your mortgage payments do not fall onto your mortgage lender’s SVR (standard variable rate).
Book a free remortgage review today and speak to a trusted mortgage advisor in Derby about your remortgage options.
It can be a daunting experience taking that first step into the mortgage world, or starting the mortgage process for the second or third time around.
With many options for homeowners and homebuyers to take for themselves, it is best to get it right the first time, especially with a lot of money involved.
Whatever your mortgage goals and situation is, the tailored and friendly service we provide as a Mortgage Broker in Derby will help you through your mortgage journey, especially for first time buyers in Derby.
As much as we know and are confident in our ability to help our customers through the mortgage process, we understand the process can be complicated and may wonder how obtaining Mortgage Advice in Derby can help with this.
In this article, we have collated an overview of why approaching a Mortgage Broker in Derby may help you in some cases, and why many people prefer to go direct to the mortgage lender instead.
Many believe that you are more likely to save money by doing direct and finding your own mortgage deal. This isn’t entirely the case, as a Mortgage Broker in Derby may charge a fee, however, this does base on circumstances.
It might be easier and more cost-effective if you have a lot of knowledge and have a straightforward case, however, it can be more complex depending on your situation so approaching a Mortgage Broker would be beneficial.
It can be risky choosing this option as not having a lot of knowledge could result in your ending up on the wrong deal or being unsuccessful on your mortgage deal. Either of these circumstances could end up you spending more money than you have to or harming your credit score which can impact your chances of applying for a mortgage in the future.
With a dedicated Mortgage Advisor by your side, they will be able to help you through the journey towards achieving your mortgage goals. Their aim is to get their recommendation right the first time, at the best possible price. As much as this will come with a service fee, it could mean you are saving a lot more money in the long run.
Loyalty can be one of the reasons why many customers decide to approach the bank directly, and how the mortgage process was previously run. This was the way to go before the rise of technology and online banking in which loyal customer would approach their local branch on a daily basis, usually speaking with the same person.
In terms of the mortgage process, you would get help and guidance from the bank manager themselves, who is an expert and has a thorough knowledge of your finances so would be the best person to approve a mortgage for you. Now, the process is a lot different with the credit scoring being digital.
Because of this, the bank manager won’t physically go through the case themselves, it will go through a complex online system in order to see whether or not you are eligible for a mortgage. Everything is fair regardless of which bank you are with.
Many do believe that by going direct, you are open to better, exclusive deals. Again, this is true to an extent, however, it’s it can be limited. This is because they are only offering the best deals from their company.
Not all mortgage lenders are banks and there are many more mortgage options available to choose from. Therefore, the deal that the bank feels is suitable for you, might not be the best deal beyond the bank that you could’ve gone with.
Getting expert Mortgage Advice in Derby can be the best way to get a competitive deal that is suitable for you. One of our expert Mortgage Advisors in Derby will be able to go through your case and find you the best deal from our large panel of lenders. This is another advantage of approaching a mortgage broker instead of just a bank.
Following on from the topic of deals, you may find approaching a Mortgage Broker in Derby can provide you with exclusive deals that you can’t find anywhere else. There will be a large range of options when you with a mortgage broker regardless of if you are a first time buyer, moving house or looking to Remortgage in Derby.
In the wake of the 2007-08 credit crunch, a massive improvement in the mortgage market needed to happen. One of these changes was stated in the 2014 Mortgage Market Review, which instructed lenders to no longer sell mortgages to their customers without extensive, expert advice.
Because of this, people could not just approach a bank to tell them they wanted a mortgage and be instantly granted with no checks. Not every staff member in the bank could grant you a mortgage which was something that happened regularly regardless of if they were qualified to do so or not.
As well as this, these changes also bough about consumer protection, which a bank wouldn’t have given you. Now, you are able to place a complaint with the Financial Ombudsman in the event you feel misadvised. Another way to make a claim is through the Financial Services Compensation Scheme.
Having this in place means reassuring a customer that they will be safe and advised accordingly regardless of what mortgage journey they take. This applies to both mortgage brokers and mortgage lenders.
Another drawback you get approaching a bank instead of a mortgage broker is the timing. If you approach a bank, it can take months to try and talk with someone at a bank. Furthermore, when you do begin the process, you’re not updated as much through the mortgage journey.
Here at Derbymoneyman, our responsive team will get in touch with you at a time that is best for you and your day to day life. From early until late, 7 days a week, including weekends, our Mortgage Advisors in Derby will be available to answer any of your questions and keep you updated. You might find us being contactable on some bank holidays.
In some cases, you may find yourself attending your appointment on the same day, however, this doesn’t have to be the case. You can speak to someone any time that you are ready and available.
We understand every customer’s lifestyle is different. This is why our advisors have availability throughout the day which means you can book an appointment out of your 9-5 or even on a weekend! Booking is simple with our online booking system where you can find an available slot to speak on an advisor.
Responsiveness is a core value within our company. Regardless of if you are at the very start of the process or towards mortgage completion, our friendly team will always keep you up to date. In the event that any changes arise, your advisor will contact you as soon as possible.
Providing this high-quality service is why many Mortgage Broker in Derby, like us, are favoured in the public eye. With this popularity, many people favour approaching local experts instead of national banks.
Through our extensive experience in the industry, we have found some cases are more tricky than others. Below are just some scenarios that are a bit more difficult than the usual case:
Previously, mortgage lenders could easily compete with one another by providing deals that were better than the other. Now, the main change in which deal you go with is if you match the criteria or not.
You might find a cheaper deal but it may not match your criteria. In order to see if you are able to have a mortgage, the mortgage lender either carries out a hard search (resulting in a footprint on your credit file).
In the circumstance where you apply for the mortgage with a lender and are declining an agreement in principle, this could harm your credit file. The most frustrating about it all is that it’s very unlikely you will be given a reason as to why you were declined.
A Mortgage Broker in Derby will be able to go through your case and advise you on ways to increase your chances .of being accepted.
With access to a large panel of lenders, they will be able to find you a suitable deal that perfectly matches you up with its criteria and then begins to get an agreement in principle sorted for you. If you obtain an agreement in principle through Derbymoneyman, this will usually be sorted for you within 24 hours of your free mortgage appointment.
Remember, this doesn’t automatically mean you are agreed or guarantees you a mortgage at the end. It does, however, make your credit file much safer by having an expert go through it beforehand. Our team of Mortgage Advisors in Derby will always aim at getting our recommendation right the first time.
At the end of the day, it’s entirely up to you! There are advantages and disadvantages of approaching a Mortgage Broker in Derby. On the hand, there are lots of pros and cons to going direct as well. The difference is how quickly you want your service to be, as well as how secure you want to be.
As a dedicated Mortage Broker in Derby, we have extensive experience in dealing with a wide range of customers who go through the mortgage journey. Whether you are a first time buyer in Derby taking that first step into the mortgage world, coming towards the end of their fixed period, or looking to remortgage in Derby, our team are more than happy to help!
Book yourself in for a free mortgage appointment or remortgage review to speak with an expert, FCA regulated Mortgage Advisor in Derby. Our team are here to help with your mortgage goals, with availability that suits you, subject to eligibility.
For more information about our service, check out our brilliant customer reviews. These show the high level of service we give to our happy customers, on a daily basis. We also have a YouTube channel MoneymanTV if you are looking for additional insight into the mortgage world.
A question that we regularly get from customers, is how much will their process actually cost? Generally speaking, first time buyers in Derby are the ones who reach out to ask this question the most.
Because of this, we have put together a handy list of the different fees you can expect to pay throughout your mortgage journey, and the different points at which they become payable.
Estate agent fees will generally only be payable if you are selling a home. With general interest in online estate agents on the rise constantly, you can sell your home with much lower fees on a basic Rightmove listing.
On the other hand, if you are looking for a more localised and personal service provided by a dedicated sales negotiator in a local branch, you will be looking at a fee somewhere around 1-2%.
Your mortgage lender will require that you have a valuation carried out on your new home. This is to determine the value of said property, to confirm that it is worth the amount you’re looking to borrow.
The costs of a valuation can vary from nothing at all (for a basic valuation with some lenders), all the way up to well over £100 for a much more detailed Home Buyers’ Report. A full Building Survey can potentially cost more than that.
Really, being able to choose which report you would like is the key here. The valuation you decide will vary based on the age and type of the property you’re looking to buy, as well as any concerns you have.
If it’s a newer property, you may want a basic valuation. If you are buying a period property, you’ll probably want a more in-depth report.
Some of the mortgage products that you will find, will have cheaper rates. Occasionally though, the arrangement fee can outweigh how cheap it is.
This isn’t always the case, as there are products that won’t have a fee, meaning they cost nothing. That being said though, some might have a fee and they could be quite costly, depending on your lender or product.
You may have the choice to either add these to your mortgage balance or pay these upfront. If you add these to your mortgage, you may incur additional interest charges.
You will need to hire the services of a solicitor, and the fees for these can be very different depending on who you speak to. With a local company and a straightforward property purchase, you may find it’ll be around the mid hundreds.
When dealing with a solicitor, you will need to give them your property address. This will apply whether leasehold or freehold. In order to obtain a quotation, they’ll also need to know the purchase price.
The key points to cover when asking for a quote are:
You may need to pay an extra tax on your home, which your solicitor will collect on the completion of your purchase of the property. Further details about who this applies to can be found here: https://www.gov.uk/stamp-duty-land-tax.
A trusted and experienced mortgage broker in Derby will typically charge their own service fee. The fee amount will vary depending on the case and the mortgage advisor.
The cost of removing your furniture from your home can vary depending on who you use and the service you are looking for. Hiring a van to do it yourself may be a cheaper option than hiring a removal service, though they will be more efficient.
To learn more about your mortgage options or to get started on your mortgage process, book your free mortgage appointment to speak with one of our mortgage advisors in Derby today. We usually have a great selection of appointments available, at times that are convenient for you.
If you have any amount of equity currently in your property and are looking at your options for potentially Capital Raising, then a Remortgage in Derby could be something you can feel the benefit of.
We often see that mortgage lenders, for the most part, will allow customers to borrow up to 90% of the value of the property.
Below are a handful of examples of how a Capital Raising mortgage can be used by people currently owning a home in Derby:
Taking out a Capital Raising mortgage may be a way for you to potentially ward off any financial issues sooner rather than later.
Whilst having lower interest rates and increasing the amount you borrow for your mortgage may mean paying more monthly, this sort of route may prove more financially viable than taking out any unsecured loans.
Again though, this likely means more being added to your monthly mortgage repayments, for much longer than you originally signed up for, and you may also have to pay an Early Repayment Charge (ERC) as you’ll technically be changing your mortgage.
As a Mortgage Broker in Derby with a wealth of knowledge and experience under our belt, we have a rich history of helping all kinds of customers with their mortgage needs, especially those who are reaching the end of their term and are looking to Remortgage in Derby.
A member of our dedicated team will give you expert mortgage advice on the right path for you to take. If Capital Raising is right for you, your advisor will move forward with that plan.
If they believe that it isn’t right for you, they will advise otherwise and discuss how else you can achieve your goals.
If you are in need of any help to find you the best capital raising mortgage deal for your current personal and financial situation, please feel free to contact us and get yourself booked in for a free mortgage appointment.
You’ll get roughly 45 minutes with a mortgage advisor in Derby who will discuss your requirements and look at how best to proceed.
For any homeowners who are maybe past the age of 55, it may be more appropriate for you to look at Equity Release in Derby.
Being involved in the mortgage world can come with its rewards. When you come to the end of the process you will be left with the following;
Whatever route you decided to take, you will have ultimately come to the end of your mortgage term and be wondering what the next step is. Here are just a few;
Remortgaging occurs when you move your mortgage on your current property from one to another.
When it comes to a Remortgage in Derby, you will have a range of options to choose from, with both minor or a lot larger options available depending on your situation.
Normally, the initial mortgage deal you’re on will last around 2-5 years with lower fixed rates or even some rates that have been discounted.
In some cases, you may find that you will be placed onto a tracker mortgage which follows alongside the Bank of England’s base rate.
It’s likely for many customers will result in their lenders Standard Variable Rate when their term has ended. This is also known as an SVR.
In short, an SVR happens when a mortgage with an interest rate that is decided based non what the lender wishes to charge, with the number subject to change.
Unlike a tracker mortgage, this does not follow the Bank of England’s base rate.
Due to the way Standard Variable Rates work, they are usually the most expensive mortgage option a customer can go for. This is why some people explore the route of remortgaging for a better rate.
Further down the line, you may find that you have saved some money on your mortgage repayments each calendar month.
When you get a couple of years into your home residence, you may be feeling a change and looking at giving your home a makeover.
This could be an extra room or more living space for your children or furniture, a new kitchen, a home office, or maybe even a loft conversion.
Some homeowners go for this option instead of moving into a larger house. You may find that you can release equity that exists in their home via taking out a remortgage when their term ends. By doing this, you can use the funds to cover the costs of any home improvements.
Taking out a large project like a home renovation can be a little overwhelming. It will also require you to get planning permission to do any of these projects.
On the other hand, many homeowners who have experienced this would likely say that it’s not as stressful and more rewarding to take on a home project to modify your home further instead of going through the process of moving home.
Further down the line, your plans could benefit you even more. Creating more space and having good quality craftsmanship could lead to a property value increase which can benefit you if you decide to sell up or rent out.
Through our experience, we find that a plethora of customers who get in touch with our team are looking at the option to Remortgage in Derby for a better mortgage term.
This can be done by reducing the length of the term they are currently on or switching to a more suitable and flexible mortgage product.
By reducing the length of your mortgage term means that you won’t be paying your mortgage back for as long as you otherwise would’ve, however, it does increase your monthly mortgage repayments.
You will be paying a lot less each month if you have a longer mortgage term.
Sometimes, customers would opt for a more flexible mortgage term. The benefit is that this could result in you having the option to overpay at a later date meaning it pays off much quicker.
When it comes to flexible mortgages, you may also allow a homeowner to carry the same mortgage and rates over to a different property, if it’s ever needed in the future.
The purpose of a flexible mortgage sounds like the perfect option for many customers, however, they are usually taken out as a tracker mortgage, which was mentioned previously and follow the Bank of England base rate.
This does mean that your monthly mortgage payments could vary depending on the interest rate, this does make them not as reliable and consistent.
Since the 2007 market crash, property prices have risen since then. The majority of homeowners should have some equity sitting on their property.
You can work this amount out by looking at the difference between the remaining mortgage balance and the current property value.
Again, many homeowners will go for a remortgage as a way to fund any home improvements they’re planning to make. Along with this, there are many other options out there.
Additional options we find some customers use this equity for include covering long-term costs, providing a boost to their income, going on their dream holiday, paying off an interest-only mortgage, or to even just having some extra cash to spend.
In certain cases, we will also find that a number of buy-to-let landlords in Derby will choose to remortgage to release equity as a way to cover the deposit that they need to purchase additional properties to build their portfolio.
An Equity Release in Derby is aimed to those who are aged 55+ with a property that is worth at least £70,000. If eligible, this could be an option for you! For further information regarding this option, it’s important that you speak to an expert later life mortgage advisor.
Keeping on the subject of equity release, it’s also key to mention customers who use their equity to pay off any unsecured debts that may have accrued over time.
This may sound like a pretty simple concept, debt consolidation will not only factor in the amount of debt owed, but the property’s value along with the performance of your credit rating at that time.
The certain aspects they into may, unfortunately, result in you being limited on the amount you can borrow for a remortgage, depending on your personal and financial situation.
Furthermore, for those who are serious about using this to pay off your previous mortgage and your debts, you will be required to borrow a greater amount than your outstanding mortgage. You may find that your monthly mortgage payments increase.
This isn’t the best situation to be in, however, it will provide you with reassurance that should you need the help, you have some options to choose from.
In the circumstance where your credit rating is not in the best state, there are other options available that could provide you with mortgage success. Keep in mind that these will be straightforward and will need very specialist Remortgage Advice in Derby prior to going ahead with them.
Unfortunately, getting some help and support from a Specialist Mortgage Advisor in Derby may not guarantee your mortgage success.
It’s still important, however, to enquire with an experienced Mortgage Broker in Derby before consolidating and securing any debts against your asset which is your home.
For homeowners with a mortgage term that is coming to its end and are offering what their option may be for remortgaging, we would always recommend that you get in touch with a reputable Mortgage Broker in Derby like ourselves.
By having a Mortgage Advisor in Derby helping you through the process, you will be able to talk about your situation which will then determine what your next step is on your home owning journey.
We work hard in ensuring your mortgage journey is smoother the second time around, hopefully as smooth as your first. Here at Derbymoneyman, we strive to provide a tailored service that fulfils customer satisfaction.
The idea of having one mortgage can stress people out, never mind two! That said, some people weren’t aware that it was possible to have two or more mortgages.
Many various costs come with a second mortgage, and there are many different reasons why someone might want more than one mortgage.
If you have a large amount of equity built up in your home and are looking to release some to fund for a second mortgage to purchase a new home, home improvements or on another property for your portfolio.
Then this is something an experienced mortgage advice team in Derby, like ourselves, can look into for you.
You’ll often find towards the back end of your mortgage that you will be heading onto or potentially already are on a lender’s Standard Variable Rate (SVR).
Our team of advisors may be able to shop around to find you a more competitive deal. Another potential option could be an advance with your current lender.
If you are looking into the possibility of moving house but securing full ownership of your current property to let it out, this is another case where having a second mortgage would be suitable.
Your second mortgage will be a new residential one, taken out on a property after raising funds from renting out the previous home. This particular process is known as a let to buy mortgage.
Some homeowners may look to release the equity sitting in their property, using that income to buy an additional property to add to their portfolio.
We are now seeing more situations where a homeowner may wish to take out a remortgage to release equity to gift their child a substantial deposit.
Gifted deposits are a widely popular option for many first time buyers in Derby who otherwise wouldn’t have gotten on the property ladder any other way.
A second mortgage may apply to other circumstances, such as financial complications present with a divorce or separation.
You may not always be able to get out of your joint mortgage straight away, if at all, but may wish to take out a mortgage on a home of your own once you’ve moved out.
If you have any questions regarding second mortgages, please do not hesitate to get in touch.
You can now book yourself in for a free mortgage appointment to speak with a dedicated mortgage advisor in Derby at a time that suits you and your lifestyle.
Thanks in part to COVID 19, there are a lot of people who are now working from home. It has become a way of working that some people prefer and is something that many people are sticking with permanently.
Technology has allowed people to easily communicate to their colleagues from their homes through video calls and allowed people to have access to everything they need. Having access to a computer, at least, can allow you to be flexible with your work environments like home or office, regardless of what job you have.
If you are looking to renovate your property for a home office, and need to raise additional funds to carry out the work, our mortgage advisors in Derby can help look at your capital raising remortgage options. In many cases, we find people remodel their spare room or a garage as their chosen office space.
Finding a suitable remortgage deal is the next thing to do. This could be done either on your own or with the support of a mortgage broker in Derby. It’s entirely up to you. Another option is to go to the bank directly, but they will only provide deals that are offered in-house.
There are thousands of deals out there so, shopping around can be a good option and this is something you can do with the assistance of a mortgage advisor. You will probably find that the deals the bank offers aren’t as good compared to the ones you may find when you shop around.
Getting a helping hand from one of our knowledgeable mortgage advisors in Derby can be beneficial. We can search through thousands of remortgage deals for you to find the one tailored to your circumstance and future plans.
To kick off the process, start with estimating how much you think the costs for the works are going to be. The costs might range between £5,000 to £15,000. The room size and the amount of work that is needed to transform the room into a fully-fledged office will be factored in the amount you might have to pay.
Remortgaging seems to be in its prime time due to the interest rates being the lowest we have seen in a while. For example, if you manage to get a 2% interest rate on a typical 25-year mortgage term, to borrow an additional £5,000 you may only pay back £21 per month and £65 a month might allow you to borrow an additional £15,000.
The change in working from home could potentially save you money in travel every week. It will also have a big benefit on the environment by reducing your carbon footprint and will allow you to work flexibly around daily errands such as the school run.
Get in touch with a knowledgeable remortgage advisor in Derby if you are looking at converting a spare room or garage into an office. We have a great deal of experience in finding the best mortgage that is tailored to our customer’s needs. Our team knows how to find you that 1/1000 deal!
Here at Derbymoneyman, we offer a free remortgage consultation as well as carefully considering every single remortgage situation. Get in touch today and we will see how we can help with finding the right match for your remortgage needs.
When you are ready to Move Home in Derby in order to progress further up the property ladder, you will need to take on the task of selling your existing home on the property market. You may have got the deposit for your next property purchase through the amount of equity in your home (the amount it sells for minus your current mortgage balance) post-sale.
The deposit can be increased in many different ways like your personal saving or a Gifted Deposit from a family member or friend. Both of these options are common among many First Time Buyers in Derby to achieve their homeowning goals, however, the option is available to those looking to move house in Derby.
As the seller of the property, it’s likely that you will a rough estimate on the lowest asking price you will accept, however, you may be open and willing to consider other offers out of this range. How quick the sale is can be effected by the way you market and present your home to potential buyers.
It’s best to look at whether your asking price is above the average price is in the surrounding areas. You need to be considerate and fair with the price regardless of if the estate agent told you that the property could be sold at a much higher amount, this doesn’t mean it will get sold at that price.
Cause as much traction to your property is something you need to do within the initial few weeks of your listing. With this in mind, if you find you aren’t receiving a lot of viewing for your property, you may want to consider dropping your asking price.
In the case where you have already found your potential dream home and are still living at your current house, it’s key that you sell it as quick as possible. This is why having a fair asking price can be beneficial as you are more likely to attract a potential a lot quicker.
Through our time as a reputable Mortgage Broker in Derby, we have gained vital experience and extensive knowledge within the mortgage industry. In terms of properties, the main factor that always stands out to any homebuyer.
It’s all about first impressions which is why the outside of the property should be attractive to many potential buyers. Look at the exterior of your home through the eyes of someone who has never seen it before, is the front lawn well kept? Is there anything that needs fixing?
Having an eye-catching, well-presented exterior could be done by jet-washing your driveway and neatly mowing the lawn. Not only is the buyer looking at the house but also how well you have kept it which is why it’s key to consider these things because you want to demonstrate to the buyer that you have taken good care of your home.
Furthermore, this also will peak more interest to the buyer as they will see the outside looks good and will then wonder what the inside is like. Having this can make the buyer hopeful and could result in a potential sale.
You need to remember that this is first time the buyer is going to see your property and their initial impression will be key in their decision process and whether or not you will get a sale. Make the most out of the viewing by having that ‘kerbside appeal’ to interest as many buyers a possible.
Tidying up every part of your home can be a huge chore, however, it’s the best way to impress your viewers! You need to make your home look clean, welcoming and comfortable.
Decluttering is the first port of call, in particular, around the entrance of the property. Viewers need to see your home has been well kept as soon as they step foot on the property. Little details like a new doormat or a new doorbell can make all the difference.
As you have organised your hallway, it’s then time to clean each room in your house. Kitchen and bathroom need to be fully clean and taken care of as they are key parts of the house. Even the inside of any cupboards and wardrobes need to be nicely arranged and cleaned.
For those who smoke, the smell can usually linger around the house. Therefore, open windows to get some good air in the house before any viewers arrive. Try and remove any objects in the house that smell of smoke too as that could enhance the smell further.
All of your interior doors should look presentable with a fresh coat of paint if necessary, brass fixtures polished and make sure each for open and close as they should.
Let some natural light in each room if possible or some good lighting. Any darker room needs blinds and curtains open. The temperature of your home should be comfortable to enhance the viewer’s experience.
You should test all lightbulbs to ensure they are working. Tap into the senses further by ensuring your house has a welcoming smell. Try to avoid any cooking smell and go for alternatives like air fresheners, incense or oil diffusers.
Eliminating any distractions that could affect the viewing like children or pets is key. You want to make them feel comfortable and calm without any unnecessary interruptions from small children and animals.
On the other hand, they may be best to have around. Many people could be looking for a home to settle down and start a family, it’s all about having that nice balance of welcoming and homey, to distracting.
Following on from this, it may be nice to display any family picture or painting to decorate the house. It can show to a viewer how a family has created fond memories in the home.
It’s good to let your home viewer roam free around your home so don’t crowd them too much. Couples usually like to have private conversations and comments they want to keep in mind as they look around.
As mentioned your kitchen and bathroom should be clean and spotless. Organise your belongings by putting away any items you don’t use often in cupboards and storage containers. This includes any towels and clothes which need to be nearly folded and put away with no coat hangers or any towels left on hooks or on the floor.
To create a fresh, clean essence to the home, think about washing your curtains, wiping your walls down and cleaning your floors and windows. Speaking of windows, they should be shiny and smear-free. Change out your bedding to clean, fresh bedding as well as carry out any minor repairs.
Consider looking at buying new carpets for smaller rooms as a cheap way to impress your viewer. Having fluffy, new carpets in place can show that you take care of your place and keep up with any moderations.
Creating an open space is something many homeowners don’t think about but can be beneficial for viewings. This can give the viewer an opportunity to look at how they would decorate the property and gives them some kind of canvas to mentally create on.
This is why you should put stuff that doesn’t need to be out into cupboards. You will be helping yourself by taking this approach as it means moving can be more straightforward by simply packing and transporting your belongings to your new home.
In terms of your kitchen, make sure your worktops are as clear as possible also put any pots away.
The size or style of a garden could be at the top of many homebuyers’ preferances. You may find that it is a deciding factor for a viewer who is looking at your home. Generally at the back of the house, the garden will be a lasting impression when looking at your home.
Give your garden a good declutter by picking up any rubbish and putting away any unnecessary things. You shouldn’t be throwing everything in the shed as there’s a chance for homebuyers to look inside that too.
Check that your fences have their slats properly in place and are freshly painted or creosoted. Bright and colourful gardens can be eye-catching and inviting to viewers so add a nice variety of plans flowers as well as some garden decoration e.g ornaments, birdfeeders etc.
It’s all about making the garden look inviting and presentable to the point where a potential sale could happen. Carrying out some gardening tasks like removing weeds and dead flowers, cutting the grass, and removing grass clippings can help towards the overall presentation of the home
Not only does your home need to provide a good persona, but so do you! Being a good host can help towards the overall impression of the house. Be welcoming, honest and authentic towards your viewers. You need to sell your home in the best possible light in order to get a potential offer.
In order to be authentic and honest, mention any problems that occurred in the home whilst keeping a balanced perspective. For instance, if you had an issue with a leak in the past, say how straightforward it was to fix and that’s unlikely it will happen again any time soon.
In the case where you are working with an estate agent, it’s usual for them to earn their commission by talking to the property viewers as much as possible. Remember that you know your home as much as they do, you lived there yourself. Therefore, don’t hesitate to get involved and provide further information to the viewer.
The final point, consider the emotion attached to buying a home, in particular, if you are speaking with a First Time Buyer in Derby. For sellers with a family, let the viewer know about how important and memorable this home has been during your time there. This can leave a touching last impression on the viewer, especially for those looking to start a family or already have one of their own.
It’s no secret that we think going with a mortgage broker would be your best option, however that isn’t the only path you can take. Sometimes it is worth exploring your options. Generally speaking though, we find that most people opt to side with a Mortgage Broker in Derby. Let’s take a look though at the positives and negatives of both, allowing you to decide for yourself.
As a general rule of thumb, a mortgage broker (like Derbymoneyman) will charge a broker fee on top of the costs you are already needing to pay for. On the flip side, the majority of mortgage lenders won’t require this, leaving you with money still in your pocket.
On top of this, going to a mortgage lender directly will open you up to exclusive deals you can only get through going to them. This attracts business from both those looking to get a mortgage and even mortgage brokers. These are also only allowed to be offered by the broker itself and not just anyone in a branch without proper mortgage advice training or consumer protection knowledge.
Luckily in 2014 this was banned nationwide, only allowing for experienced and fully qualified mortgage advisors in Derby to provide any kind of mortgage advice and product recommendation. This took a while for people to get used to however, and some customers were left waiting for a month, sometimes even more.
Even today, this can still happen to some customers. This isn’t the best when you have already had an offer accepted on a property you like. It’s reasons like this that mortgage applications via mortgage brokers went on the rise. A part of our charm is offering a same day service, hoping to put you through with a qualified mortgage advisor in Derby as soon as possible, often within the same day unless the customer requests otherwise.
In the days before the 2010s, it was a lot harder to look as possible mortgage deal comparisons, whereas nowadays everything is now at your fingertips and easy to find out. The hardest part now is not comparing, but rather finding criteria that you match up with and features that can be tweaked to match your individual situation. It is still advised that you be wary though, as deals with the lowest fees often come with the highest arrangement fees.
Something else to look out for is affordability. You could find the greatest deal in the world with a lender, but if you can’t afford it, you won’t get it. This in turn ends up being a large factor as to why people opt to use a mortgage broker in Derby. Using our knowledge of lender criteria, we will do our best to find you an appropriate and affordable deal for your circumstances.
With regulations these days being a lot tighter (a lot of that being thanks to the Credit Crunch), mortgage applications are not as easy as they once were. For the inexperienced home buyer, it can be an overwhelming experience to go alone. Here are some possible hurdles that customers may find along the way:
Over the years, Mortgage Lenders had gotten rather competitive with each other, trying to offer better deals than their fellow lenders. Due to legislation changes post-Credit Crunch, most of these changes are now in regard to the lending criteria.
Some of these examples include how much they are willing to the self-employed versus the employed, as well as leniency when checking previous credit report issues.
Your circumstances are completely unique to you. Whatever the situation, it is unique to you. When speaking to an experienced Mortgage Broker in Derby about your situation, it will be likely that they have encountered something similar in the past. Hopefully with their experience in play, you’ll end up with the most appropriate deal for you, along with lower interest rates.
Our service is more than just mortgage focused. Even if the application is simple and straightforward, customers will often still rely on a mortgage advisor in Derby for more. Customers are welcome to discuss with us how much they are planning to offer on a property, and we can recommend services such as solicitors and property surveys. One of our most important services is running through any available protection with our customers.
Something else we pride ourselves on is the ability to be a responsive mortgage broker in Derby, offering out of hours and weekend appointments to all our customers. Our dedicated team of mortgage advisors in Derby are available 7 days a week!
A factor that gets overlooked regularly, is that most applicants seem to be busy and need the assistance of a mortgage broker to handle the mortgage proceedings and eliminate possible stress. Professional applicants can reap the benefits of this as well, as they have their own clients that they are able to charge their services to.
In the future, we could see lenders wanting to bring back more customers from mortgage brokers. In this case, it’s unlikely that they will invest in more staff, instead opting for a more technological route.
For anyone looking for a quick and easy process, who is comfortable doing things that way, it’s great. Mostly we find though, whether they are First Time Buyers in Derby, Self Employed in Derby, or looking to Remortgage in Derby, people prefer people and would much rather have human interaction and input in their mortgage case.
Offset mortgages are not as popular as they were in the past. The demand for these types of mortgages has reduced drastically because people aren’t as good at saving as they used to be. However, these mortgages are a fantastic option for customers who are able to put some money aside each month or if some money is inherited or used as a gifted deposit.
When you take out an offset mortgage, the lender opens a Savings Account at the same time which is linked to your mortgage. Whilst the Savings Account won’t gain any interest, the money ‘offsets’ against the mortgage balance, e.g. if you owe £100,000 on your mortgage and you have £18,000 in your Savings Account then you only pay interest on £82,000.
This means Offset mortgages are extremely flexible, and money can be put in until the mortgage is completely offset. Any money that is put in the account is instantly accessible so it’s an ideal place for your ‘rainy day’ emergency fund. The Savings Account saves interest on your mortgage and doesn’t attract tax on anything that’s put in there which is particularly attractive to higher rate taxpayers.
If there is a reason that a lump sum will soon be acquired such as a possible future inheritance then an Offset Saver can be a good place to deposit the money until what is decided to use it on. The same applies to any bonuses that are received through work.
Consequently, there are some negative factors because of the availability to these flexible features. Offset mortgages tend to hold slightly higher mortgages rates and fees than other mortgages. Therefore, if the flexible features aren’t been put to use then it’s best to go with a standard mortgage.
Customers who like Offset Mortgages tend to stick with them and are less likely to remortgage as opposed to other customers. These types of mortgages can sometimes be tricky to understand but are worth looking into with a Mortgage Advisor in Derby. Many people often plan to overpay their mortgages when they first take them out but don’t seem to get round to it, this is often due to being uncertain about paying too much off their mortgage so that little is left for future capital requirements.
So if this sounds familiar then it may be best getting in touch with a Mortgage Advisor in Derby to make sure that the right mortgage is obtained and fitting to the situation that is being sought after.