Simple-Lending Remortgage Advisors in Folkestone
Local Remortgaging Advice
- Multi- Award winning team
- Wide range of lenders
- Bespoke service, tailored to you
- Available at all hours, including after bath time!
Get in touch for an initial free, no obligation chat with an advisor about how we might be able to help.
Supportive Remortgage Guidance in Folkestone, Client-Centred and Clear
Eligibility Criteria for Remortgaging
When it comes to determining if you’re eligible for remortgaging, there are a few key factors to consider. Lenders will look at your credit score, your current mortgage balance, your property’s value, and your income. It’s crucial to have a stable financial history and demonstrate that you can afford the new repayments. Additionally, be aware that lenders have differing criteria, but here at The Mortgage Mum, we’ll help you navigate through the options to find the best match for your situation.
How Much Equity is Needed to Remortgage
Equity is a significant factor in the remortgaging process. Simply put, equity is the portion of your property that you own outright. To remortgage, you typically need to have at least 10% to 25% equity in your home, although some lenders may require more. If you’re looking to release equity, having a substantial amount will give you more flexibility in securing favourable terms.
Types of Remortgage Deals Available
In Folkestone, homeowners can explore a variety of remortgage options tailored to meet their needs. Fixed-rate deals provide stability by locking in your interest rate for a set period, while variable-rate mortgages can offer more flexibility if you’re comfortable with changing interest rates. Tracker mortgages, tied to the Bank of England’s base rate, are another option to consider. At The Mortgage Mum, we are well-versed in these products and will help guide you to the best choice.
Speak to an expert
We will work at times that suit you and your family, carrying out appointments via video call, telephone or email, giving you the benefit of first class service, around your own schedule, and in the comfort of your own home. So let us handle your mortgage today and find out how well we can look after you, The Mortgage Mum way!
Reasons to Remortgage
There are several compelling reasons to consider remortgaging your Folkestone home. One of the most common is to secure a better interest rate, which can significantly reduce your monthly payments and overall cost. Others may wish to consolidate debt, streamlining your finances into a single monthly payment. Releasing equity is another motivation, allowing you to access funds for home improvements, education, or other major expenses. Whatever your reason, our team is here to ensure you make an informed decision.
Relevant UK Schemes or Considerations for Remortgaging
In the UK, several schemes and considerations can impact your remortgaging choice. For instance, the Help to Buy scheme may affect how much equity you have if you’ve used it before. Additionally, those nearing the end of their current mortgage term should be aware of Standard Variable Rates (SVR), which could increase your repayments. Always consider potential early repayment charges on your existing mortgage. Our advisors in Folkestone are familiar with these nuances and can provide specific guidance tailored to your circumstances.
Local Housing Market Information
Folkestone, a picturesque coastal town, offers a unique blend of affordability and growth potential in its housing market. Over recent years, it’s become increasingly popular due to its scenic beauty and transport links to London, making it an attractive place for families and professionals alike. The market here offers a range of properties, from charming period homes to modern developments, providing options for both new buyers and current homeowners looking to remortgage. With steady demand and appreciating property values, remortgaging in this location could provide opportunities to capitalise on your home’s increased value. At The Mortgage Mum, we understand Folkestone’s local market dynamics and are well-positioned to offer insights and advice as your trusted mortgage advisor in Folkestone. Contact us today to explore your remortgaging options and discover how we can help you achieve your financial goals.
Why The Mortgage Mum
- We're a team of mums who understand the juggle
- We're all expert advisers with a wealth of experience
- We work around you and your schedule
- We're here to make the mortgage journey easier for you
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