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Many people think about a re-mortgage because they want to improve their home or property.
Re-mortgaging for home improvements can raise money for a new kitchen or a new fancy bathroom. Your home improvement re-mortgage, further advance or secured loan could be used for a new extension to your home or a loft conversion, for example.
Lenders look on this type of re-mortgage favourably because you are spending money on increasing the value of your home. This helps you obtain better rates and favourable borrowing terms.
This will reassure a lender that there will probably be more value in the home rather than less in the long term. The other big benefit is that the increase in value will not attract any tax liability if your property is your home!
Caution - Items like a hot-tub or solar array don't count as home improvements, although we can still raise money from your home to purchase these items but the term is known as capital raising which can be done as long as it is for any legal purpose.
Our experience will help us identify which lender to approach on your behalf to ensure that you are able to improve your home or property, quickly, easily and with the least fuss!
If you re-mortgage for home improvements from your current lender we will be able to offer a free valuation and free legal advice to transfer your current mortgage.
If you have an excellent rate deal and don't want to change your current mortgage, or if you are tied in to a deal and would have to pay penalties, you are able to arrange a 2nd charge secured loan with another lender until the current deal ends.
Whatever your situation, if you want to improve your home and need to raise some moneytalk to us and we will endeavour to get the best possible deal with your current circumstances.
Thanks for all your help here in making it happen, really appreciate it.
Mr D Willis