How does the mortgage process work?

As your mortgage broker in Halifax, we carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for you. A credit check is then required for an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can be issued.

How does the free remortgage consultation work?

Your initial free remortgage consultation in Lincoln will last around 1 hour. We will then compare a new deal vs your current product and recommend the most appropriate one, with no obligation to you. You can then decide whether you wish to go ahead with the mortgage or take a step back.

Are there fees involved in Remortgaging?

The fees will be similar to the ones involved when you started your current mortgage. However, your dedicated Mortgage Advisor in Halifax will run through all of the fees with you. Taking these into consideration when comparing the savings of the new deal vs your current mortgage.

Can I get a second mortgage in Halifax?

It may be possible to get a second mortgage on your home for things like debt consolidation or Home Improvements. It may also be possible to take out a mortgage on a second property if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

Can I get a mortgage with previous credit problems?

If you have had credit problems you can still get a mortgage but you may possibly be required to put down a higher deposit than usual, perhaps 15% of the property purchase price.

Can I consolidate my debts?

You can remortgage and increase the size of your mortgage to pay off any unsecured debts you may have. Please do not rush into this though as there are some downsides. We recommend that customers always seek Mortgage Advice in Halifax before consolidating debts!

Why should I bother to remortgage?

Your chances of saving money go up if you are on your lenders SVR (Standard Variable Rate of Interest). We will compare the new products available against your current mortgage deal, in order to work out these savings for you. If you have equity in your property, a remortgage would also allow you to release some of this money if required. Usually, this is used for things like home improvements.

What documents will I need to send?

It’s usually three payslips for an employee to prove income and the latest 2 years’ accounts for Self Employed. You will also need to produce proof of ID, address and 3 months’ bank statements.