Have you ever wondered how much the costs of buying a home in Sheffield are? If you are a First Time Buyer in Sheffield, there is a list of fees to consider when buying a new home, including the fees and your deposit.
Make sure you have saved plenty to cover all the upfront costs. Let’s take a look at some of the costs of buying a home that you need to know about:
The only time you will require an estate agent is when you want to sell a property. The fees of the estate agents differ from one agent to another. The fee of an estate agent may not be cheap and the ones that can be hired for a low rate are online-based because they don’t have their own established offices.
If you can afford it and don’t mind paying a high fee, then you should go for a local estate agent that has an office as they can provide you with a personalised service. However, this can cost you around 1 to 2% of your overall selling price.
The estate agent’s fee might be up for negotiating, especially in the “seller’s markets”. This is when many agents are competing to get instructions from you because there are not many houses left on the market for them to deal around with. So, if you are a Moving Home in Sheffield, consider the estate agency fees wisely.
First Time Buyer in Sheffield like yourself, will be made aware that before you take out a mortgage, the lender will need to know that what you are paying is actually the worth of the property. Some lenders might will offer this service for free but they might not share with you a copy of their reports.
If your lender is not offering a free valuation service, then you’re going to have to pay a fee. This fee can be as high as a few hundred pounds, which can be way above budget for many people. If you want a more detailed and informative report, it’s most likely that you’ll have to pay an even higher fee.
Here at Sheffieldmoneyman, our Mortgage Advisor in Sheffield will explain the different types and ranges of surveys consist of so that you’ll be able to make a decision that will be the most suitable for your current circumstances.
Depending on the condition that the house is in, you may have to upgrade the survey accordingly so that you get all information you need in the report.
A good survey is very expensive, but at the same time, it can provide important information about the property. If you end up buying a property without getting it checked, you could end up paying a lot more for the repairs you’ll have to deal with in the future.
The general rule of thumb is that the mortgages that have the lowest minimum interest rates are the ones that come with the highest fees. Fees required to set up a mortgage can actually range from zero to more than a few thousand pounds! If it’s an option, you may want to add your lender’s arrangement fee to your mortgage.
Your Mortgage Advisor in Sheffield will always aim to recommend the cheapest product that will meet your needs perfectly without any issues. They will also be able to calculate the total mortgage amount that will be required over a term.
Here’s a top tip: if you are borrowing a higher amount, you are going to want to try and keep the interest rate as low as possible.
If you are starting the process of buying a home in Sheffield, you will need to have a solicitor as well so that all of the legal work can be taken care of. For example, the legal aspects include who owns the property, who’s selling it and so on. Without a solicitor, people can sometimes get caught in illegal issues as well. So, you need to have one to successfully carry out your moving home journey.
Solicitor fees vary, some may appear quite expensive and this is because their quotes include the VAT as well. Though remember that not all solicitors are on “panel” for all lenders, so you need to be careful and choose the right one for your needs. Once again, your Mortgage Advisor in Sheffield will be able to help you make the right decision in this regard as well.
There are purchases that will be subject to Stamp Duty. Stamp Duty is a tax that you pay to the government when you are buying a house. Often, First Time Buyers in Sheffield can get a bit confused about this fee. The rules regarding which purchases will have this tax change frequently so you can check it here: https://www.gov.uk/stamp-duty-land-tax
If you are a First Time Buyer in Sheffield who wants mortgage advice, you should also know about mortgage broker fees. Almost every mortgage broker will charge some sort of fee for their services and the amount that you will have to pay will mostly depend on how much the lender is paying the broker for the work that they will be doing on their behalf.
A lot of the Mortgage Brokers in Sheffield will only charge you a fee you if they are able to get a formal mortgage offer for you. You better check the online reviews about your chosen Mortgage Broker in Sheffield before you hire them.
You need to know about the removal fees too. There are lots of people who hire a van and move themselves, however, we advise against this idea. Removal companies will charge you more money, but their service is worth the money. They will make your moving day a lot less stressful in many ways.
So, these are the main costs of buying a home in Sheffield. If you are a First Time Buyer and are looking for Mortgage Advice in Sheffield, get in touch with us and we will help you get everything done in the simplest and the most effective manner!
Buying a house is a very complicated and tough task, however, if the right steps are taken, the process could be completed smoothly with ease.
There are many different types of mortgages available, and most of them are entirely different. In this article, we will talk about the cashback mortgage and how it works.
Does it benefit you in the long term or short term? How does it compare to my other mortgage options in Sheffield? Let’s take a look and answer the most frequently asked questions regarding cashback mortgages.
Firstly, if you prefer to watch our moneymanTV video on cashback mortgages, feel free to watch it below. As a Mortgage Broker in Sheffield, we receive many questions about cashback mortgages, so mortgage advisor and our managing director Malcolm ‘the Moneyman’ decided to make a video to make cashback mortgages easier to understand:
Cashback mortgages are pretty self-explanatory. To put it simply, after paying off your mortgage or after finishing your mortgage term, you will get some money back.
The sum you get back gets based on a percentage of what you have borrowed. It usually’s something small like 1 or 2%. Some lenders like to have a fixed price in the contract. Even if you have a long mortgage term, this is a fixed amount, and it will not increase over time.
Cashback mortgages come with both advantages and disadvantages. For example, some Cashback Mortgages might come with a free property valuation or some fringe benefits.
Cashback Mortgages can be very attractive to customers that are borrowing lower mortgages. You will get some money back plus some benefits on the side. If you are offered a reasonable percentage on your Cashback Mortgage, you should consider taking it up as it may be worth it in the long term.
The only real disadvantage to a cashback mortgage is that they usually come with high-interest rates.
Compared to other mortgage options available, Cashback Mortgages are not the most popular. However, they are still worth considering. We still see customers at Sheffieldmoneyman looking for Cashback Mortgages, and they are a great backup option if you don’t qualify for your first choices.
If you want a more in-depth viewpoint, be sure to book your free mortgage appointment online or give us a call to speak with a Specialist Mortgage Advisor in Sheffield. Our team will be more than happy to explain the benefits of taking out a Cashback Mortgage and why they could be a suitable option for you.
There are many reasons why some may choose to move home. That said, this article will highlight some of the most popular scenarios that we have seen as a mortgage broker in Sheffield:
Some borrowers look at wanting to move home simply because they wish to live somewhere bigger. It makes sense, considering that some first time buyers in Sheffield look for a smaller property to start small and then move when their circumstances change down the line, i.e. ready to settle down and start a family.
Another option to making more living space is to raise capital through a remortgage to build an extension/conversion. This option is popular amongst growing families.
Others choose to remortgage for home improvements to raise their property value for when they sell it in the future.
We also hear that some wanted a change of scenery and looking to move to a different area. These will likely be first time buyers again as they usually have a restricted budget and settle for an affordable property for a reasonable price. The chances are that these borrowers now have a higher income coming in that they can afford to live in a more affluent area.
Not everyone considers schools as they may have not even thought about starting a family yet. Those who have started a family or are planning to will always factor in accessible education within the area when they are looking at where to move.
Some look at moving closer to their friends and family. If you have children at a young age and both parents work full-time then it is more than likely that you will ask their family to help them out with childcare as private nurseries can be costly.
Those looking to get on the property ladder will always consider buying over renting. That said, when it comes down to costs, no matter if you are renting or buying, the monthly payments are roughly the same, depending on the area, but you need to save up for a deposit.
As we mentioned before, if you prefer more living space but do not want the hassle of moving, then book your free mortgage appointment today to speak to one of our remortgage advisors in Sheffield, who will help you find a great deal to raise money for home improvements.
Why hesitate? Book your free mortgage appointment now to speak to a Mortgage Advisor in Sheffield. Our mortgage advisors can calculate your maximum borrowing capacity and give you a quote on your monthly payments.
Even if you are looking at remortgaging, you can get in touch today, and we can pass you on to our expert remortgage Advisor in Sheffield, and they will be able to answer all of your mortgage enquiries.
Here’s our handy guide to understanding the importance of critical illness insurance — what it is, how it works and how it varies from other types of insurances.
Critical illness cover is insurance that pays you a lump sum if you are diagnosed with a particular illness.
Critical illness provides financial support for you and your family while dealing with your diagnosis, allowing you to concentrate on getting better without worrying about how you will be able to pay the bills.
As we stated earlier, critical illness cover helps support you and your loved ones financially if you’ve been diagnosed with a particular illness listed in your policy.
When you are diagnosed with a critical illness covered by your policy, you will receive a lump sum payment, which could help financially with bills/mortgage payments should you be unable to work.
Critical illness insurance doesn’t payout if you pass away. That is where life insurance comes in.
In most cases, life insurance only pays out if you pass away during the policy term. Taking out life insurance can act as a financial safety net to support your family in the event of your death.
Policies can differ in terms of which illness they cover, and this all depends on which insurer you choose. It’s good to speak to a protection specialist in Sheffield, as they can advise you on which policy goes well with your circumstances.
Critical illness insurance is a lot more expensive than life cover because you are more likely to make a claim.
That said, ensure you disclose any underlying health problems when taking the policy to avoid the risk of your claim being denied.
We aim to provide equal opportunity to all our customers when taking insurance out through ourselves.
Here at Sheffieldmoneyman, we offer all of our customers a free, no-obligation protection review, which involves us looking at any existing policies you have in place and assessing their suitability.
From this, we will look for critical illness, income protection and other mortgage protection insurance products that will meet your needs, and we will try and personalise this to your budget.
If you are considering buying a house, don’t be spontaneous. Taking out a mortgage requires careful planning and preparation over a long period.
That said, you will be surprised at the number of people we deal with regularly, who are more accustomed to their buying behaviour and have therefore neglected to prepare for a mortgage in advance.
Many reasons why a first time buyer in Sheffield like yourself jump into such a significant financial commitment on a whim. Some of the most common including;
Disadvantages include leaving buyers open to various potential issues with their mortgage. Some common mortgage hurdles we have faced with customers include:
Savings can be pretty tricky. Especially if you are renting at the moment, balancing a constant income and significant outgoings and essential purchases each month limit what you can save in-between.
The good news is that family members can help via the use of a Gifted Deposit. Some first time buyers in Sheffield ask family members to try and help whenever they can. If a family member is looking to help. We recommend it’s best to give them as much notice as possible to get their finances in order!
Getting an up to date credit report is not an incredibly difficult task. You may have seen TV adverts for various credit reference agencies, but we recommend Check My File, as they can collate the data from these sources into one for you to compare.
Once you have downloaded your credit report, you can send it across to a mortgage advisor in Sheffield, who will look at this for you. We see these reports daily, and we know what sort of things the lenders like to see and what they do not want to see.
When a lender looks at your bank statements, lenders would rather not see lots of unnecessary bank charges or gambling transactions on your bank statements. You will need to provide the lender with a reasonable explanation as to what has been happening on your account and how you plan to resolve this going forward if any issues arise.
For customers who are self employed in Sheffield, we understand that Accountants try to minimise the tax liability for their customers. That said, if your year-end has come around, then there is nothing to stop you from submitting another set of accounts earlier than you might typically do.
Especially if you think your business has grown in the last 12 months. Some lenders consider ignoring previous years’ figures if the latest ones are favourable.
No matter your circumstances! If you are still facing one of the problems above, it’s possible that we may be able to help you get in touch. Our team of expert mortgage advisors in Sheffield are here to try and help.
First time buyers in Sheffield are relying on gifted deposits to get a mortgage. Find out what a gifted deposit is and how it can help your get onto the property ladder.
While the market has gotten tighter with rules, making it more challenging than it used to be to obtain a mortgage. It can still be possible to buy a property in certain situations.
For example, after spending over three years in the same rental property from the local authority, be that a housing association or council. You may be eligible to buy a property under the Right-to-Buy Scheme in Sheffield. We have seen that they may allow you to use the equity from that property in place of a deposit in some cases.
In most cases, people get around the long and stressful process of saving up their deposit by being given a Gifted Deposit. A gifted deposit is when a homebuyer receives money to use as a down payment on a property. Depending on the amount given, it could be used for the whole deposit or just a portion of it.
Most lenders will have specifications on who can and cannot gift a deposit. If you consider buying a house with your parent’s money ‘bank of mum and dad’, this is the source of funds people often ask. Other family members such as grandparents and siblings are usually allowed.
That said, More distant family members such as aunties and uncles are much less likely to be permitted. A mortgage deposit gift from friends, meanwhile, is improbable to be accepted.
If you’re a parent looking to get your children on the property ladder, a gifted deposit is a good way of doing so!
If the person gifting to you is aged over 55, they may look to take out Equity Release in Sheffield as a means of gifting you a deposit.
In most situations, it will need to be a gift, with the lender requiring that the donor sign a letter (which we can help prepare) to confirm the funds are non-refundable, and they will not put a “charge” on the property you are buying. There are exceptions out there, with at least one notable lender who will accept this.
That said, you must be careful, as taking out a personal loan just before applying for a mortgage will most likely negatively affect your credit score, which could lead to a mortgage application being rejected.
Also, the mortgage lender will have to take the monthly payments for the loan when they are calculating how much they will lend you.
There is no maximum limit on the amount of gift you can receive. But most lenders will insist you put in at least a 5% deposit from your funds.
As an open and honest mortgage broker in Sheffield, we can utilise our extensive panel of lenders to search through 1000’s of Right-to-Buy Mortgage deals for you.
We aim to offer help and guidance during the process, answering any questions you may have along the way. We even aid with other services when necessary, such as conveyancing.
Applying for a mortgage as a single applicant whilst married is not uncommon. There are, several reasons that can justify applying for a mortgage in just one name, and some lenders will consider this arrangement.
Reasons, why a single application can be more fitting than a joint mortgage, is if:
There are many more reasons to get a sole mortgage when you’re married. Our mortgage advisors in Sheffield are available seven days a week to book you in for a free mortgage consultation and help you get started.
Some lenders will only accept a joint mortgage if you’re married. However, there are lenders out there that will allow for sole applicants whilst married to get a mortgage.
If you are looking to take out a mortgage in your sole name, you should contact a mortgage broker in Sheffield. We have been in the mortgage business for over two decades now, making us knowledgeable mortgage experts in the field. We can search through thousands of deals on your behalf, hopefully finding a mortgage to suit your circumstances.
Our mortgage advisors in Sheffield will need to ask you specific questions about your reason for wanting a sole named mortgage. For example, if you do not wish to apply for a joint mortgage because your partner has bad credit, you both may be able to get a joint mortgage, as there may be lenders willing to put both names on the mortgage.
Other reasons can include if you are looking to purchase a sole name mortgage for personal reasons, our advisors might be able to find lenders who are likely to approve. Most lenders are not comfortable with this arrangement because you’re purchasing a property for you and your partner. Lenders favour both applicants to be on the mortgage. This is to avoid possible conflicts in the future, especially if the couple were to divorce.
If you’re separating from your partner or going through a divorce and looking at your mortgage options. You will find useful information here, divorce and separation mortgage advice in Sheffield.
The best decision is to speak to a mortgage advisor in Sheffield, who can provide you with a more tailored answer regarding your circumstances.
Again, we highlight the importance of always seeking mortgage advice in Sheffield before applying for a mortgage, particularly if you’re married but want to get a mortgage in one name.
Our mortgage advisors in Sheffield specialise in complex mortgage applications. If you are looking to purchase a property in your sole name whilst married, please don’t hesitate to contact us. Our specialist mortgage advisors in Sheffield have a wealth of knowledge and there is rarely a situation that they haven’t come across before.
An Agreement in Principle (AIP) is a statement or certificate from a lender to say that, in principle, they would lend you a certain amount and proves a First-Time Buyer in Sheffield like yourself that you are credit-worthy.
If you are looking to get one, you need to get in touch and provide us with information about your mortgage needs and situation. Then, once we have processed your details, we can suggest how much you may be able to borrow.
As a devoted mortgage broker in Sheffield, we can usually turn around an agreement in principle for you within 24 hours of your enquiry. Your Agreement in Principle can last anywhere between 30 and 90 days, depending on the lender. If your Agreement in Principle expires before you use it, it can be easily refreshed by speaking to your mortgage advisor in Sheffield.
When applying for an Agreement in Principle, the lender will run a credit check to evaluate your eligibility. You will need to ask what level of credit survey they do. If the lender runs a hard credit search, it will leave a ‘footprint’ on your credit file visible to other lenders.
A search footprint is a record left by a credit reference agency every time your credit report gets searched, either by yourself or by others. If there are a high number of hard searches in a short period, it can harm your credit score as it could signal that you’re struggling to get accepted by other lenders.
However, if the lender has chosen to run a soft search, it won’t leave a footprint, and it won’t impact your credit score.
An AIP cannot guarantee that you will get a mortgage offer – you will still need to go through the entire mortgage application process when you find a property you want to buy, but this will help strengthen your chances.
An AIP usually is valid for up to 30 – 90 days, and our mortgage adviser in Sheffield will be able to use the information as part of your mortgage application process. However, they will want to make sure the details are still correct.
Some factors may affect the lender’s decision when making a complete application, such as their lending criteria or personal circumstances that have changed.
You may be a First Time Buyer in Sheffield, or you might be thinking of moving to the area and are looking for excellent mortgage advice. If this is your situation, we believe that you will benefit from our dedicated mortgage advice service in Sheffield.
We offer a free initial mortgage consultation with one of our expert mortgage advisors in Sheffield, so please get in touch today and let us get the ball rolling on your mortgage application so that we can secure you an agreement in principle.
We often hear from customer enquiring if it’s it possible to exchange ownership of your property from your name(s), into the name of your limited company?
First of all, it is essential to know how a mortgage lender will approach purchases from Limited Companies. There are not many lenders that will accept Ltd Company applications through anything other than an SPV (Special Purpose Vehicle) Company.
An example of this is a company set up expressly to invest in properties like this. When registering your company, your registration will include a SIC (Standard Industrial Classification) Code that maps out the types of business in which the company will participate. Mortgage lenders usually would not accept applications from general trading companies that can trade in other areas.
For example, if you have a plumbing and heating company, you will need to set up an entirely separate company to own the properties in your Buy to Let portfolio instead of buying them through your plumbing company. The SIC codes typically accepted are 68100, 68201, 68209, 68320, though this varies depending on the lender.
To find out more information about SIC Codes, consult the Government here.
There are both advantages and disadvantages to purchasing a Buy to Let in Sheffield under an Ltd Company. For example, you will find that not all mortgage lenders will consider applications from SPV’s. Instead, they prefer to limit their lending to lone applicants or couples applying in their name(s). As such, individuals will find themselves with a broader range of products than those using SPV’s.
When it comes to the lenders who would lend to an SPV, the mortgage rates would also typically be much higher than the rates offered to individual applicants. A positive take away though, is that the way rental income is taxed has been changed in recent years, meaning that many people prefer the advantages generated by SPV ownership (relating to how payment is taken and how that income is taxed) as they more than makeup for any extra interest charges or lack of product choice.
The first thing we always recommend customers look at when evaluating your options of buying your portfolio under an SPV is speaking with a specialist tax advisor for advice. They will assess factors such as external income sources and the rate of personal income tax you pay, seeing how they will affect your overall tax status. This will help decide whether or not individual or SPV ownership is the way forward for you.
As discussed, the main factor in your decision will be your tax position. This becomes a little more complex when you decide whether or not you want to transfer properties you already own from individual ownership to company ownership.
The problem here is that it isn’t just a simple transfer. This type of transaction is a change of legal ownership. Your Ltd Company is a separate corporate identity so that the transaction will be counted as a purchase from you as the individual to the SPV. Stamp duty charges, legal costs and new mortgage and valuation charges will be in full effect.
It’s important to remember that Limited Companies come with running expenses and legal obligations. That said, these may be offset by the possibility of tax-deductible costs or long-term tax benefits.
If a landlord is looking to increase their property portfolio, it would probably work better to keep the current property under their name and only use the SPV to buy any other properties. That way, you avoid any switching costs and unwanted legal fees for something you already own. That being said, each case is different, and you may find that the benefit of a switch far outweighs any of the downsides that come with it. It’s all depending on the circumstance.
As we’ve covered, this is a particular territory. If you are considering taking this route, please get in touch with an experienced and knowledgeable Buy to Let Mortgage Advisor in Sheffield.
Here at Sheffieldmoneyman, we have many Buy to Let experts on hand who provide top quality mortgage advice in Sheffield, backed up by introductions to appropriately experienced accountants and solicitors as and when you need them.
To speak with a Mortgage Advisor in Sheffield, please Get in Touch and we will see how we can help.
The mortgage journey can be pretty rewarding in the long run. Though you might have faced several hurdles along the process, you are now at the end of your trip and now faced with making a decision. Call the property a home and settle down as a single homeowner or start a family, whereas others use this as a stepping stone to climb higher onto the property ladder or investment to help provide you with a boost in income.
Whichever pathway you choose, eventually, you will be approaching the end of your mortgage term and may find yourself in the position to sell up and upsize/downsize into a new property. You may even be in the market for selling your portfolio to the tenant(s); whatever the scenario, everything mentioned above all comes under one word ‘Remortgage’.
a Remortgage is where you take out a new mortgage on a property you already own to replace your existing mortgage or borrow money against your property value. There are many reasons people choose to remortgage, but one of the most popular scenarios is to Remortgage to find a better interest rate and save money.
By utilising over 20 years of knowledge working in the mortgage industry, Director of Sheffieldmoneyman and Mortgage Advisor Malcolm Davidson is here to talk to you about all the opportunities for starting your Remortgage journey.
The mortgage deal you start with will generally last somewhere within 2-5 years, featuring lower fixed rates or possibly discounted rates. We have seen in some cases where some lender may even put you on a tracker mortgage, a mortgage type that follows the Bank of England’s base rate.
When you reach the end part of your mortgage term, you will likely get placed on the lenders Standard Variable Rate (SVR). An SVR’s purpose is to increase or decrease this mortgage interest rate, depending on what the lender determines correct to charge you.
Be aware that this type of mortgage does not follow the Bank of England’s base rate like a tracker mortgage would do. As such, it can be a little more of a gamble, as the lender is not legally obligated to charge the amount that gets recommended.
Generally speaking, this type of Standard Variable Rates can be a more expensive route to take, so another look at their options to Remortgage for better rates. Potentially saving the homeowner with some money on their monthly repayments.
Once you’ve gotten through most of your initial term, you may feel like you need a extra room or a larger living space.
Some people choose to go down the route for a new kitchen, a new office, or even a loft conversion (which seem pretty popular these days).
Though the idea of obtaining planning permission from a local authority and both funding and managing your project can be a daunting task. Some may argue it’s a lot less stressful and more rewarding than the process of house hunting, selling your property and move out.
As time passes by, this may prove even more to be a wise investment choice, as creating more space and having good quality craftsmanship will likely increase how much your home is worth. This is very useful if you ever decide to sell up or rent your house out to someone else.
In some cases, some homeowners may wish to Remortgage in Sheffield to find themselves a better mortgage term, whether that be by reducing the length of the period in question or by switching to a more flexible product.
Doing this will mean you will be paying back your mortgage over a shorter amount of time so that you won’t be tied down for a large portion of your life. However, this route will also mean that your monthly repayments will be higher than they otherwise would’ve been. The general rule of thumb is that the longer your term, the lower the payments will be over time.
Many homeowners choose for their mortgage term to be a little more flexible when they take out a remortgage. It’s the benefits provided by this option that tend to sway homeowners more in its favour. Through this, you may gain the ability to overpay your mortgage.
This means you can pay your mortgage off quicker, as well as being able to carry the same mortgage and rates over to another property of your choosing, just in case you ever decide to find a new property at any point in the future.
Though a flexible mortgage sounds like it would be ideal for you, it will usually come in the form of a tracker mortgage. As discussed earlier, these mortgage types follow the Bank of England base rate. This means your payments could fluctuate based on interest, potentially making them a little unreliable when your monthly payments come around.
Every homeowner has some amount of equity in their home. How much exactly depends on factors. You can work it out by calculating the difference between what is still owed on the mortgage and the current amount your property is valued.
As mentioned earlier, equity can be used for home improvements, though that’s not all you’re limited to when it comes to using your equity. Some use their released equity to cover long-term care costs, supplement their income, have a holiday, pay off an interest-only mortgage, or have extra money to spend freely and treat themselves.
In the rare case, we find that Buy-to-Let landlords will use Equity Release as a means of covering their deposit for additional property portfolio purchases.
Another big one that works in conjunction with Equity Release is releasing funds to pay off any unsecured debts that may have built up over time.
Though it may seem like a reasonably straightforward task, Debt Consolidation not only bases the amount on how much you’re owed and the value of the property, but it also factors in where your credit rating is currently at.
This could mean that whilst you may be able to use some money to cover these costs, you’re limited from the offset regarding how much they’ll even let you borrow.
To pay off your previous mortgage and your debts, you will need to borrow more than the mortgage amount that is remaining on your balance. Additionally, this will almost certainly mean that your monthly repayments will be higher than they were previously. Though not an ideal situation to find yourself in, you can at least rest assured that should you find yourself in need of a backup plan, and you do have some mortgage options to choose from.
If you happen to have a damaged credit rating, you may also still have a chance to obtain a mortgage, though this process will not be easy and requires very Specialist Remortgage Advice in Sheffield before you can even proceed. Even with a professional by your side, there is still no guarantee that this will even be something you can do.
When choosing to consolidate and secure any debts against your home, please always seek Mortgage Advice in Sheffield first.
If you are at the end of your term and are looking at your home-owning and remortgage options, then don’t hesitate to Get in Touch with an open and honest mortgage broker in Sheffield today and our advisors, we’ll see how they could help.
A dedicated mortgage advisor in Sheffield will be able to discuss your circumstances and the best plan of action on your mortgage journey. Our aim as a mortgage broker in Sheffield to ensure a quicker and more straightforward process than your first mortgage.