Can you remember when you purchased your home? Was it a really easy time in your life, free from any stress? Thinking back, did your new mortgage go through from start to finish without any hassle or delays?
Hopefully the answers were yes, but it was probably no!
Moving home is a huge decision to make. Not only is it a time of massive upheaval, but it can also be expensive and time consuming.
Getting the mortgage side of things sorted early in the process is a big tick in the long list of things to consider.
Whether you are going to a bigger property or maybe downsizing, selling up and moving to a new home is a fantastic opportunity to review your mortgage and look for a better deal.
It is likely that any lender that you are currently with will offer you a deal to take your existing mortgage with you to the new property. This can be a good idea if what they are suggesting is the best that is available for your circumstances.
But how do you know if it is? It may have been years since you last looked at what you were eligible for.
By speaking to one of the teams that Open Mortgages work with, you can have the confidence that they will look at your current situation and offer you some solutions and suggestions. It may be that staying with your current lender is the best advice, but you are not going to know that unless you check.
And, if moving the mortgage to a new lender is what you decide, they can work with you to help guide you through the whole buying and selling process. Helping to speak to the estate agent, solicitor and lender as required.
What if your current mortgage lender doesn’t want to help you this time?
Since you took out your current loan it may be that the lender has changed its criteria. Maybe your credit file isn’t as strong this time round, or your personal circumstances may have changed.
Have you fallen foul of the new affordability rules that the banks are now following? Or maybe you have missed payments on agreements, or picked up some defaults or CCJ’s along the way and now need to consider a mortgage that allows for previous bad credit.
Your Mortgage Broker is going to be able to steer you through this and offer you some solutions with a new lender if required.
So whether this is your first time moving home, have tried and failed to secure your new mortgage facility, or you have an agreement in place with your bank and are just looking for a better deal, click the ‘make an enquiry’ button and we will do the rest.