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When people are approaching the end of their fixed mortgage term, they might look into options to Remortgage. As a mortgage broker in Durham, we can explore these choices for you!
Through our 20 years experience working with Remortgages, our team has helped a plethora of customers in achieving their Remortgage goals through us securing them competitive Remortgages that are tailored to customer circumstances. Our hard working team of Remortgage Advisors in Durham can help by searching through 1000’s Remortgage deals.
As soon as you are happy with the deal that your dedicated Mortgage Advisor has recommended to you we can then get started with getting your Remortgage application submitted.
At Durhammoneyman, our goal is for us to find and recommend you the option that is best for you in regards to your financial and personal circumstances. Keeping this in mind, if the best option is to stick with the products you have already, our open and honest mortgage advisor in Durhamwill tell you so.
Booking yourself in for a free Remortgage consultation that we offer here could be a huge benefit. Attending your free mortgage review could possibly provide you the option of getting a mortgage rate which could help you save money in the future. Get in touch with your fast and friendly Mortgage Broker in Durham today from 8am – 10 pm, we would love to hear from you!
When your current mortgage agreement is nearing its end, remortgaging in Durham refers to obtaining a new mortgage on your existing property. Many homeowners prefer fixed-rate mortgages, which offer consistent payments for a specific period.
They then choose to remortgage in Durham to secure a better deal. However, to qualify as a remortgage in Durham, you must secure your mortgage from a different lender than the one you had previously. If you obtain a new mortgage with the same lender, it is known as a product transfer.
Remortgaging in Durham is a popular option for homeowners seeking the most favorable interest rates, considering that mortgages represent a significant financial commitment. Homeowners may also choose to remortgage in Durham to access equity for home improvements or to consolidate unsecured debts.
Failing to remortgage in Durham may result in being charged the standard variable interest rate, which is generally more expensive.
It is possible to include unsecured debts in your mortgage when remortgaging in Durham. However, this may result in longer mortgage terms and increased monthly payments, potentially putting your home at risk of repossession if you are unable to meet the necessary repayments.
You should think carefully before securing other debts against your home. By adding your unsecured debts to your mortgage, which is secured on your home, you are potentially putting your home at risk if you cannot make the required repayments.
Although the total monthly cost of servicing your debt may have reduced, the total cost of repayment may still have risen as the term of your mortgage is longer than it may have taken to repay the debts originally.
At Durhammoneyman, we offer a complimentary remortgage review conducted by a dedicated remortgage advisor in Durham. They will assess your current mortgage arrangement and explore alternative remortgage options in Durham.
Our team will meticulously search through numerous remortgage deals to find the one that best suits your needs, ensuring transparency regarding any associated fees.
The fees involved in remortgaging in Durham are akin to those incurred when setting up your initial mortgage, depending on the mortgage broker in Durham you previously engaged. When comparing the potential savings of a new deal with your current mortgage, a mortgage broker in Durham will consider these fees and discuss them with you.
Our Customers Love Us
5.00 Rating19 Reviews
Jenni
Malcolm and his team were nothing short if amazing helping guide us through somewhat tricky process of buying our home. They were friendly, patient and efficient and deserve more than a five star rating. Thank you again to Malcolm and his team.
1 month ago
Joanne
Malcom, was professional and helped sercure the best mortagage deal for us. We were apprehensive about using a mortage broker as we had never used this kind of service before, but Malcom and the team made it so easy from start to finish,friendly...
3 months ago
Fiona
Very good service from Dinah. Very helpful and no pressure sales. Felt confident I got the best advice for my circumstances.
5 months ago
Katie
We could not recommend UK money man enough for helping us obtain a mortgage. As first time buyers we went into the process clueless, Malcolm and the team have been absolutely amazing. Their communication and expertise has been second to none. The...
6 months ago
Mr Darren
An amazing service from some amazing people. They where with me from start to finish and the support, guidance and advice they gave me was brilliant. I would happily recomend Durhammoneyman. Thank you to all who where involved in my case.
7 months ago
Anonymous
Great service! Very informative and responsive. Made the process for a first time buyer straight forward and went smoothly
10 months ago
Duncan
Professional all the way. Excellent advice from Wayne followed by excellent administration by Anna to complete the transaction. Would recommend.
1 year ago
Martin
Excellent Staff and Service, I would definitely use them again They were very helpful all through the process of my remortgage providing me with the best deal and assisting with any issues or concerns i had, very prompt on replies to my calls and...
2 years ago
Kayleigh
Joe and Chloe have been so helpful sorting out our remortgage. They did all the hard work. I would highly recommend Durham Money Man to anyone! Fab job guys!
2 years ago
Karen
Was very professional and very helpful.
3 years ago
Anonymous
We are very pleased with the service we received. Everything was very simple and the mortgage brokers done everything for us. The mortgage deal they found was significantly less than any we could find ourselves, so it's worth paying the broker fee...
3 years ago
Niall
Fantastic service! Amazing advice and guidance throughout my mortgage application. Would recommend Durhammoneyman to anyone!
4 years ago
Sarah
Durhammoneyman have been an absolute lifesaver in helping me to get a mortgage. Their support, advice and assistance throughout the process has been above and beyond what I could have expected. Without them I would not have been able to navigate...
4 years ago
Donna
I cannot fault the service I have received from Leo, Wendy and the team. They have made a potentially stressful process very easy, offering support and guidance throughout. I would recommend this team to anyone in need of mortgage advice. Thank...
5 years ago
Sandra
Matt was first of all hugely understanding and quite reassuring in what I knew would prove a difficult task! Under 2 years self employment history, trying to gain a second family home without selling the first and possessing a buy to let which also...
5 years ago
Louis
I had a complex situation and I was nervous about the whole thing. Chris worked his magic and got me a mortgage offer within 2 weeks. I was amazed. Working full time I found the evening appointments terrific.
5 years ago
Michelle
Thank you to Laura and Matt who worked seamlessly to get my remortgage offered. I’m really happy with my new deal, much better rate than what my bank were offering.
5 years ago
Mary
My mortgage broker was easy to get hold of and efficient. Overall my experience was good value for money. As a first time buyer I felt I had support throughout my purchase.
5 years ago
Daniel
We rang these guys when we had been promised a mortgage by our Bank who then changed their minds. To be honest we didn’t know whether or not we’d be able to get a mortgage but during the first call with Durham Moneyman we felt they understood...
5 years ago
During your complimentary consultation with Durhammoneyman, you will have the opportunity to discuss your current situation and goals with one of our expert remortgage advisors in Durham.
Our mortgage advisors in Durham will evaluate your affordability and gather important details about your income and expenses.
Our team will thoroughly search through numerous remortgage products in order to find the most suitable option for you. Before finalising the product, we will carefully consider your personal and financial circumstances.
Once you have accepted the offer, your designated remortgage advisor in Durham will submit your complete mortgage application and forward all the necessary supporting documents to the lender.
Throughout the process, your assigned case manager will keep you updated until you receive the formal remortgage offer and complete the transaction.
At Durhammoneyman, we go the extra mile. In addition to securing the best remortgage deal, we will also provide recommendations for relevant insurance to safeguard you and your family.
Furthermore, we will proactively reach out to you when it's time to renew your next remortgage in Durham, ensuring that you always have the most advantageous deal.
All our new/existing customers are offered a free Remortgage consultation in Durham.
Whether you are looking to Remortgage in order to release equity or to find yourself a better deal, our mortgage advisor in Cardiff are here to search and discuss you mortgage options with you.
In order to find you the perfect deal that is tailored to your personal and financial circumstances, our team are able to search through 1000s of deals to achieve this.
Our overall ethos within Durhammoney is to have a service that provides open and honest Mortgage Advice in Durham. We love helping a range of customer achieve their Remortgage dreams.
To find out more about our service and our customer satisfaction, check out our company reviews. You will be sure to see the success we have had with customers on their Remortgage journey.
Please don’t hesitate to contact us if you are looking to book a free Remortgage appointment. Contact us today to book your free remortgage consultation in Durham & see how we can help you.
When it comes to availability, we always try hard to work around the customer’s day to day life which is why we are available for you 7 days a week from early till late at night.
It’s best to start looking at your options when you are nearing the end of your initial fixed period for your mortgage in Durham.
Most people will look to obtain a Remortgage around this time due to the fact that they will automatically switch onto their lenders’ SVR, Standard Variable Rate.
When you are on the Standard Rate Variable, your interest rate will normally be higher than your initial fixed period thus increasing your monthly mortgage repayments.
This could be more costly per month for you. A remortgage advisor in Durham will be able to look for a better deal with more favourable rates of interest for you, hopefully saving both your time and money.
Our dedicated team have put a lot of work into helping many different customers release equity from their home because the customer is looking to fund their home improvements.
Many customers use the money from releasing equity for large home project like a home extension, a new kitchen or a loft conversion.
If this is the case for you, mortgage lenders may ask you to provide them with any quotes you’ve received for the work.
One way to reduce your outgoing in one obtainable monthly payment is to consolidate unsecured debts in your mortgage.
Nonetheless, it’s important to know that choosing this option will stretch your debt over the course of your mortgage term which will mean you will be paying more overall. If you are considering consolidating debts, it’s best that you look into this before.
As well as this, we would recommend that you speak to a Mortgage Broker in Durham before securing any debts against your home.
You should think carefully before securing other debts against your home. By adding your unsecured debts to your mortgage, which is secured on your home, you are potentially putting your home at risk if you cannot make the required repayments.
Although the total monthly cost of servicing your debt may have reduced, the total cost of repayment may still have risen as the term of your mortgage is longer than it may have taken to repay the debts originally.
In the case where you co-own a property in Durham and your goal is to get your name removed off the mortgage, Remortgage is something you may look into.
Regardless if you decide to stay with your current lender, the process will still be an identical process. The reason for this is that the lender will still need to know and be confident in lending to you by looking at if you are creditworthy and can still afford the mortgage.
If you are looking for more information about these popular Remortgage scenarios, then please check out our Remortgage guides section.
Read our 19 Reviews
Durhammoneyman.com & Durhammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Durhammoneyman.com & Durhammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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