Re-Mortgage
Remortgage your property with expert legal advice at value-driven rates in a fast, professional, and responsive way. Specialists in Cramlington, Tynemouth and Whitley Bay.
Specialists in Remortgages
Toomey Legal offer specialist remortgages in Cramlington, Tynemouth and Whitley Bay. We also provide expert legal advice for remortgages across Newcastle upon Tyne. We’re here for, so you can always depend on us to help you.
At Toomey Legal, we offer expert legal advice and specialist expertise for your remortgage. Our knowledgeable staff can help you through the process and give you peace of mind that your property will be looked after.
We’re specialists in remortgages in Cramlington
Our team of experts is here to answer all of your questions about remortgages and we provide a range of services across Tynemouth, Whitley Bay and the whole of Newcastle upon Tyne. As well as specialist legal advice, we offer a range of other services including: buy-to-let, remortgage conveyancing and stamp duty.
Today, in the UK, the average home will cost you in excess of £375,000. This is more than can be afforded by most people and so many people are turning to remortgaging as a way to get more out of their homes.
We’re specialists in remortgages in Cramlington and we’re here to help you get the best deal for your property. We specialise in remortgages for properties of all kinds and we can help you complete your application with ease. Contact us today!
Our expert advisers in remortgages
At Toomey Legal, we’re specialists across all of the different types of remortgages – from let to buy to buy-to-let. In addition, we have expertise in dealing with everything from stamp duty to deeds of variation.
If you are looking for some professional advice on your remortgage, then you can get in touch with our expert advisers. They will be able to guide you on the different options that are available for your case. You can trust us with your mortgage issues!
Remortgages are a tricky business. There are so many factors that need to be taken into consideration, and the process can be complicated. This is why it’s important to get in touch with an expert who has experience in the field of remortgages and knows what they’re doing.
Trusted, experienced team
You can depend on our team at Toomey Legal – we’ve been providing a trusted service for years now and have a 5* experience. Toomey Legal are specialists in remortgages. We can offer you expert legal advice for mortgages in Newcastle upon Tyne, Cramlington and Whitley Bay. Mortgage advisors you can trust.
Re-mortgage – FAQs
What is remortgaging, and how does it work?
Remortgaging is where you take out a new mortgage on your existing property, this means replacing your current mortgage with a new one, whether this is with your current lender or a completely different one. Doing this could potentially help you to access a better interest rate or even release equity from your home. When it is approved, the new lender will pay off your old mortgage and you will then start making payments under the new loan.
What is the best time to remortgage?
The best option for remortgaging would be to start around 6 months before your existing deal ends therefore, you will have more time to potentially find a better and more competitive mortgage deal. It’s all about getting the most reasonable interest rate for you.
What are the benefits of remortgaging a home?
Some of the benefits of remortgaging a home would be that you can lower your monthly payment, you can take control and have certainty, you could possibly pay off your mortgage sooner, you may be able to borrow more money, and you could be able to consolidate debt.
What fees are involved in remortgaging (legal, valuation, exit)?
There are frees involved in remortgaging, these include exit fees, valuation fees, and legal fees. An exit fee is charged by your current lender if you are leaving them before the end of your fixed term. A valuation fee is paid to a surveyor so that they can access the current market value of your property. Finally, the legal fees are for the legal work that is needed in order to transfer the mortgage from an old lender to a new one, this includes solicitor fees.
What are the eligibility criteria for remortgaging?
The eligibility criteria could include your equity, you will usually need 5% equity in your home. Homeowners with 20% or more equity will usually get the best deals. A low credit score can also make it harder for people to remortgage, even if you can remortgage, you may have to pay higher interest rates.
How does my credit score affect my remortgage application?
Having a low credit score doesn’t automatically mean you’ll be denied a remortgage. Lenders will assess how well you manage your monthly mortgage payments, their impact on your overall finances, and what portion of your income they take up. They may also consider how much of your home you’ve already paid off.
How long does the remortgage process take?
The remortgage process usually takes 4-8 weeks; however, this time can vary depending on any circumstances that may occur. These factors could include switching lenders, preparation, and credit checks.
What are the risks of remortgaging?
Remortgaging can be a risk as there are many factors that can affect it. These include interest rates, early repayment charges, and negative equity. Interest rates – you may not save money if your current mortgage has the best rate, and interest rates can increase in the future. Early repayment charges – if you remortgage before the end of your current deal, you may be charged an early repayment fee. Negative equity – if you owe more money on your mortgage than your home is worth then you are in negative equity and that can make it harder to remortgage.
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We offer a high quality service
We offer a high quality service and we strive to provide better service than our competitors. We don’t just sell you a single product or service, but instead let our team help you develop your portfolio.