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Remortgaging Simplified


Remortgaging simplified

UK property finance have built a reputation as a specialist broker, providing finance options for the more niche and complicated cases. Over the years UKPF has helped a park home site next to a nuclear power station, sourced funding to an old BT exchange station and even helped and on many occasions provided welcome lifelines when eviction has loomed.

You maybe forgiven for thinking that as a broker, UKPF tend to stay clear of the basic aspects of property finance. However as you are about to read; the advisors and processing team made light work of a simple remortgage.

What is remortgaging your property?

Remortgaging is typically the process of changing from one lender to another, however it is possible to remortgage with the same mortgage provider. Remortgaging is a loan based on the equity held in your property, like how a secured loan works.  Clients often come to UKPF to remortgage their property when they have come to the end of their fixed period and want to source a better interest rate. A lot of clients also use the funds to make home improvements such as an extension or new kitchen / bathroom.

It is important to add that typically raising funds this way can take between 4 to 8 weeks and even longer if any issues occur according to money.co.uk. This was not to be the case UKPF’s next client…

The heart of the home.

Robert and Julie from Aldershot, Surrey wanted to extend their kitchen to create an open kitchen/diner come family room. The couple both loved socialising at the weekends and wanted to host dinner parties more often. The current galley kitchen didn’t lend much to creating a social atmosphere for themselves.

The summer was fast approaching and optimistically wanted to make use of the better weather to undergo the works. After a short google search, the couple found UK property finance and decided to call further to reading positive trust pilot reviews online.

Fast financing.

Julie discussed in detail with the advisor their plans for extending the kitchen and how much it meant to them having this new space that they could entertain in. The advisor was able to gather all the information to source some very competitive quotes from the whole of the market. The advisor had sourced a fixed rate deal with no upfront fees payable. Negotiated on behalf of the clients was the opportunity to use the lenders chosen solicitors for free. The opportunity fitted the couples plans perfectly and quickly decided to proceed by submitting their application. By processing Robert and Julies application so quickly UKPF were able to obtain an offer back from the lender within 10 days! Completion was set with in the following 9 days. In total the process from application to completion took 19 days which is far quicker than conventional expectation.

The couple are nearing the date of their first dinner party and the team at UKPF are looking forward to comparing before and after photos of the project.

UKPF Sourced:

  • Remortgage with a competitive rate
  • Fixed rate
  • No upfront fees
  • Free legals
  • 19 days completed
Last Updated: Aug 22, 2019 @ 1:35 pm
NACFB

UK Property Finance is Authorised by The Financial Conduct Authority (FCA)

Association of Bridging Professionals
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