Why should I bother to remortgage?

If you are on your lenders SVR (Standard Variable Rate of Interest) you may have increased chances of saving money. Our team are able to compare the new products available against your current mortgage deal, in order to work out what your savings could possibly be. If you have any equity sitting in your property, a remortgage would allow you to release some of this money for things like home improvements.

Can I consolidate my debts?

You may find yourself with the option to take out a remortgage, with the intention of increasing the size of your mortgage to pay off any unsecured debts you may have. Please do not rush into this though as there are negatives to be weary of. We highly recommend that all homeowners always seek expert mortgage advice in Scunthorpe before consolidating debts!

How does the free remortgage consultation work?

Your initial free remortgage consultation in Scunthorpe will last for about an hour. Your designated mortgage advisor will then compare a new deal versus your current product and recommend the most appropriate one, with no obligation for you to proceed.

Are there fees involved in Remortgaging?

When you start the Remortgage process, you’ll be facing similar fees to when you took out your initial mortgage. Your dedicated mortgage advisor in Scunthorpe will run through all of the fees with you and take them into consideration when comparing the savings of the new deal versus your current mortgage.

How does the mortgage process work?

We will carry out a Fact Find to establish your individual circumstances and needs prior to recommending the most suitable mortgage. A credit check is something that will be required for an Agreement in Principle. Once you have given all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can then be issued to you.

Will I be able to get a second mortgage in Scunthorpe?

It may be possible to get a second mortgage on your home if you’re looking to work towards debt consolidation or any home improvements, as well as if you’re wanting to use it for yourself, a family member, a holiday home or a potential Buy to Let.

Can I get a mortgage with previous credit problems?

If you have a recent history of credit problems, it’s not impossible for you to get a mortgage, though you may possibly be required to put down a slightly higher deposit than typically expected, perhaps 15% of the property purchase price.

What documents will I need to send?

The documents you will need if you are an employee are three payslips to prove income and for self employed, you will need the latest 2 years’. As well as this, you will also need proof of ID, address and 3 months’ bank statements.