Whatever your occupation, either employed or self-employed, sole trader, limited company director or a contractor, we search 1000’s of mortgage deals across hundreds of lenders, to find the mortgage that’s tailored to your needs.
Home Mover Mortgages
Even though you’ve gone through the process of organising a mortgage once before, it can still feel a little overwhelming, particularly now that you’re selling a property too. Whether you’re moving to a bigger property or downsizing, finding the right, affordable mortgage is key. You might want to transfer your existing mortgage over to your new home or find a new deal altogether.
Most mortgages can be moved to your new property. Unfortunately, you’ll still have to go through an application process and if you need to increase the size of the loan, you may be required to take out a second mortgage to cover the difference. This could have higher interest fees and come with the cost of a new arrangement fee.
New mortgage same lender
You may be able to take advantage of a better rate with your current lender, but you might have to pay an early repayment charge on your current loan. We can check out what fees you’re likely to pay and tell you if the best option is to stay with your current mortgage provider.
We can search thousands of mortgage deals to find one that’s tailored to your personal situation and then present you with all the information; arrangement fees, valuation fees, any repayment/exit fees to assess whether it’s financially beneficial for you to switch.
Why choose The Finance Roome?
Remortgaging can be a little complicated at times but we love a challenge and we hate to give up! If you took out your existing mortgage before 2008, you’ll find that the rules and criteria to qualify for a mortgage have changed. If you’re feeling a little unsure about the situation and need sound advice, we’re here to help.
How we helped Mrs R and Mr W
After Mrs R sold her house, the couple planned to move into Mr W’s house until they could find and buy a new property together. However, instead of selling Mr W’s house, they decided to increase his mortgage to raise a deposit for the new property and then rent out Mr W’s home.
Instead of arranging a joint mortgage, we recommended a special Joint Borrower Sole Proprietor mortgage. This way, Mrs R would own the property but both of them were named on the mortgage for affordability. Because Mr W wasn’t on the deeds to the new property, there was no need to pay additional property 3% stamp duty on the new purchase (as Mr W was keeping his initial property). This was a great solution for the couple. It was important that Mr W took independent legal advice prior to the new purchase to make sure he understood the implications of this type of mortgage.
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