Securing A Renovation Mortgage
Remortgaging your property to release cash equity can enable you to renovate or expand
The doom and gloom of the UK economy at the minute suggests that lots of families are in properties that are too small or have little resale demand. Remortgaging to refurbish is a cost reliable method to enhance the size, and update your home to satisfy your existing lifestyle, for example enabling you to extend if your household increases in number, give your house a makeover, or as a financial investment to enhance its value/resale appeal. The Mortgage Hut can assist to secure you the very best mortgage deal which will make renovating your home as budget friendly as possible.
Remortgaging to Refurbish a property
We have handled remortgages for many clients looking to refurbish their home which both releases money for their house enhancement task AND switches their mortgage on to a much lower rate of interest– this can efficiently release money without extending your mortgage term or increasing your payments. Contact us today to see how we can assist you!
Remortgaging to make it possible for home renovation work
The last decade has seen an increase in property renovation. Home renovation programs on TV has triggered numerous people to renew our nationwide hobby of Do It Yourself on an entire brand-new level. Whatever your reasons for wishing to renovate, remortgaging can release the equity in your house meaning that you can fund your house improvements without making use of bridging or individual loans and add value to your home.
Remodeling or expanding your property can add value to your house
With the relatively stagnant housing market, which is most likely to take a significant time to recuperate, remodeling your property is often a more financially sound means of adding value to your home, or adjusting it to your changing scenarios, than moving house is. Even fairly basic modifications to your house, such as kitchen area extensions or additional rooms, can add up to ₤20,000 to the value of your property. Remortgaging for home renovations could also save you cash on lawyers’ charges that you would incur if you moved property to gain even more living space. Once you see how quickly it is to remortgage to renovate and enhance your home, you will wonder why you never considered it before!
Commonly your present mortgage loan provider will enable you to do this, however considering other choices is sensible and can save you cash. Trawling the internet and considering various options is very time consuming, which none of us have time to do, however we take the inconvenience out of this and do it for you. As recognized mortgage brokers we can take a look at your requirements, and find the remortgage offer that will assist you to remodel quicker. As market leaders, we can shop around for you to make sure that you get the best mortgage deal at the most affordable rate, meaning that you have a little extra to put towards your restorations.
Capitalize on low interest rates
Often you can make the most of the reduced interest mortgage rates offered, therefore the extra borrowing might not increase monthly payments, however even if the new remortgage costs a little more each month, the extra equity gained by substantially enhancing your home’s value would leave you in a much better monetary situation in the long run and in the short-term you have a larger residence for your growing family to grow into. As lenders interest rates for remortgaging are at an all time low, now is a good time to remortgage, release equity and to expand your property. We can navigate the different options to find the very best deal for you and in a few years time you will also discover that the renovations you have actually made to your home will make it a more appealing home on the open market, increasing your opportunity of selling it when the housing market recuperates!
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