Home Owners & Home Movers
Your home may be repossessed if you do not keep up repayments on your mortgage.
Home Owners (Re-mortgages and product transfers)
If your current mortgage rate is coming to an end or you want to raise some money from your home, you might want to look for a new deal. There are a few options to consider…
Around six months before your current fixed rate deal ends your current mortgage lender will write to you and offer you some new rate choices.
At this time it’s a good idea to contact The Mortgage Mechanics. We can look at deals from other lenders to see if you can do better elsewhere. If you decide to move to a new lender to get a better deal, or raise extra money from your house this is known as a re-mortgage, and the process is similar to when you applied for your original mortgage.
If you decide to stay with your existing lender this is known as a product transfer. The Mortgage Mechanics can help you with whatever you decide.
Home Movers
If you feel it’s time to upsize or downsize, you may have a number of questions. You may think that because you are still in a fixed rate mortgage that you have to wait until the rate ends before you can consider moving.
Most lenders allow you to bring your new mortgage with you to your new home. This process is called ‘porting.’ If the total mortgage amount needs to be altered we can help with the application process. When moving home, the deposit usually comes from the equity in your previous home.
Equity is the difference between what you owe on your home and what the property is actually worth.
Some people want to buy a new home and not sell their current house. This is possible in some cases through a Let to Buy mortgage. This can get a little complex and where a good mortgage broker can really make the difference.
The Mortgage Mechanics can help with these types of application.
Leave your details and we’ll get back to you as soon as possible. We can see you at your home, we can meet in an office environment, or even over a telephone or video call. Ask us anything! We’ll work tirelessly to get you a bespoke mortgage, along with the right insurance to protect you and your family.
Our typical fees range from £0 to £300 for a mortgage application. The fee charged is dependent on the amount of administration required per mortgage. This will be discussed with you during our initial consultation which has no cost with no obligation.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.- The Mortgage Mechanics is a trading name of Michael McLaughlin who are an Appointed Representative of PRIMIS
Mortgage Network, a trading name of First Complete Limited. First Complete Limited is authorised and regulated by the
Financial Conduct Authority. - The guidance contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK