Remortgage for a Home Office | Mortgage Advice in Sheffield

Remortgage Advice in Sheffield

The outbreak of the coronavirus has forced most people to work from home. Surprisingly, a lot of people are warming to this and are realising that working at home suits them. We are seeing that people are wanting to continue to work from home after the lockdown.

Mostly everything that you can do in an office, you can do at home. You can make video calls, access your work server, easily contact your coworkers; communication hasn’t changed.

How to remortgage for a home office

If you are considering remortgaging for home improvements, you are going to have to remortgage your property to raise additional funds. These funds will used to make the home improvements, in this case, to make a home office. People mostly convert a spare room as it’s more convenient for an office, however, we do see people converting their garage from time to time.

To start the remortgage process, you will need to find a remortgage deal. Before you go directly to your bank, we recommend in speaking to a Mortgage Broker in Sheffield, like us. If you go to your bank, you will only get access to their deals alone, whereas, a Mortgage Advisor in Sheffield at Sheffieldmoneyman has access to thousands of remortgage deals across 38 different lenders. We also get access to unique deals that you can’t access if you were to approach the lender yourself.

A Mortgage Advisor at Sheffield always has your best interests at heart and will recommend you the best remortgage route to take that will benefit both your financial and personal situation.

The costs of a home office

To get the ball rolling, you are going to have to calculate an estimate in how much you think that the works are going to cost. Your works could cost anywhere between £5,000-£15,000. These costs are affected by things like the size of the room and how much work is going to be needed to be done on the room in order to get it in shape for office work.

Now is a great time to remortgage, interest rates are at the lowest that we’ve seen for over 20 years. In order to borrow £5,000-£15,000 on a typical 25-year mortgage term with a 2% interest rate, you may only have to pay between £20-£65 extra a month.

You could easily end up saving money down the line, as you will not be spending anything on travel. You will also be reducing your carbon emissions, doing your bit for the environment. It will also provide flexibility for parents who need to do the school runs.

Are you looking to remortgage for home improvements

Are you thinking of remortgaging your property for a home office? If so, get in touch with your local Remortgage Advisor in Sheffield. We have over 11 years of experience in finding excellent remortgage deals for our happy customers. We are experts in finding that 1/1000 remortgage deal.

We wouldn’t be surprised if lenders end up extending the time frame of their borrower’s mortgages. This means that you will get your home office further down the line once the lockdown is over, perfect timing! So act now, whilst the interest rates are at their lowest.

You need to remember that we are still open as usual 7 days a week and offer a free mortgage consultation to customer. Contact us today, we can’t wait to hear from you!