Why should I bother to remortgage?

If you happen to find yourself on your lenders SVR (Standard Variable Rate of Interest), it is very likely you will be able to save money! An experienced remortgage advisor will compare the new products available against your current mortgage deal to work out these savings for you. If you have any existing equity in your property, a remortgage would also allow you to release some of this money for anything from a supplemented income, to home improvements and alterations.

Can I consolidate my debts?

You have the option to remortgage and increase the size of your mortgage if you need to pay off any unsecured debts. This is not something we recommend rushing into though as there are some negatives to look out for. You should always seek Mortgage Advice in Derby before consolidating your debts!

How does the free remortgage consultation work?

Your free initial remortgage consultation in Derby will last for about 30 mins. A trusted mortgage advisor in Derby will then compare a new deal vs your current product, recommending the most suitable with no obligation for you to proceed, if that is what you would prefer.

Are there fees involved in Remortgaging?

The fees involved with your remortgage will work more or less the same way as your existing mortgage did. That being said, your dedicated Mortgage Advisor in Derby will still go through all of the fees with you. They will take these fees into consideration when comparing the savings of the new deal against your existing mortgage.

How does the process work?

As a dedicated and trusted mortgage broker in Derby, we will carry out a Fact Find to establish your circumstances & needs prior to recommending the most suitable mortgage for you. A credit check will then be required for an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been carried out, a formal mortgage offer can be issued to you.

Can I get a second mortgage in Derby?

If you’re looking to make any potential home improvements or consolidate any debt, then it can be possible to get a second mortgage on your home. Second Mortgages are also usable for if you are wanting to take out a mortgage for a family member, a holiday home or a Buy to Let.

Can I get a mortgage with previous credit problems?

If you have had credit problems, it could still be possible for you to get a mortgage, however, you may need to put down a higher deposit than usual. This could be 15% of the purchase price.

What documents will I need to send?

To prove your income to a lender, it’s usually three payslips for an employee. If you are self-employed, it’s the latest 2 years’ accounts. In addition you will need to produce the lender with proof of ID, address and the latest 3 months’ bank statements.