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Published on : October 25, 2019 12:51


There’s never been a better time to remortgage your property


New figures released from Mortgage Brain’s quarterly product data analysis showed a continued decline in the cost of residential mortgage market products, despite the uncertainty of Brexit.

Costs of a mortgage are now 3.23 – 5.60% less expensive than a year ago which is equivalent to an annual saving of between £234 and £396 based on a £150,000 mortgage. So if you’ve been thinking about remortgaging your property we encourage you to act now.


How do I remortgage?


Mortgages are pretty confusing, never mind remortgaging. But let us do the hard work for you.

Here at Edward Mellor, we have a team of mortgage specialists and advisers that can help you get the best deal to suit your circumstances.

Simply make an appointment with a member of our team today and they’ll be more than happy to help guide you through the whole process, from start to finish. Call them today on 0161 443 4830 or email them at [email protected]


Discover how much you can borrow by using our mortgage calculators


What to expect?


After you book your free mortgage consultation, the application process for remortgaging isn’t that different to when you first applied for your current mortgage.

Our mortgage adviser will ask you some questions to gain a better picture of your financial situation, for example, your income, outgoings, your family and your plans for the immediate future.

This information will be used to help get you a mortgage in principal. This probably all sounds familiar but the next few steps are where things can get a little confusing.

But at Edward Mellor Mortgages, we will handle the entire application for you, preparing everything before submitting it to the lender for you. The mortgage in principal will be used to apply for the remortgage.

The lender will then carry out a series of checks, assessing what you can afford, examining how you’ve handled credit in the past, through a credit check, and potentially carry out a check that the property is worth what you’ve asked to borrow so that they can make a decision on your application.

If approved, the lender will make you a mortgage offer at which point you can accept the mortgage and instruct your solicitors to move you towards completion.

Once completed, your new mortgage deal will become live.

Easy, right?

If you’d like some help our dedicated team of experts are here to help you every step of the way. Give our team a call today on 0161 443 4830 or send them an email via [email protected] to discover your options.


Related Links


The Edward Mellor guide to remortgages

Remortgages

Residential mortgage costs continue to decline in the third quarter of 2019