Martin Bright could not have done anything better, he listened to my needs, acted upon them promptly to get me the best and the right deal.
Martin was a tremendous help with mortgage and life insurance advice. His knowledge and expert advice was a real guiding light throughout the complexities of navigating both these areas for the very first time. We wouldn’t hesitate to recommend him. He is personable, conscientious and everything you could hope for in an advisor.
Top Remortgage Advisor in Colchester – Our Tailored Approach
The difference between Fees Free Mortgages and the ‘big boys’ is an independent service tailored to your actual situation. Click the button below to complete our Remortgage questionnaire. These initial questions give us a good overview and the end result will be a call to introduce ourselves, finish off the ‘fact find’ and then we’ll go and personally research your best options.
Remaining on the same deal for the full term of your loan could see you losing out on the opportunity to reduce the total amount paid back, in some cases leading to significant savings.
We guide you through the entire remortgaging journey, so that you can secure a lower interest rate on your mortgage, saving you money.
Mortgage lenders tend to offer better rates as the loan-to-value gets lower, as they view the loan as less risky. This can translate into a significant saving on your mortgage repayments.
Avoid Moving Home
It can be cheaper and more convenient to adapt or add an extension to your existing home, paid for by remortgaging or a further advance, than to move home.
We’re an independent remortgage broker, which means we’re not tied to any lenders.
We look at the whole market to deliver the best remortgage rates, allowing you to find the very best deal.
Suit Changing Circumstances
If your financial situation has changed and you now need a mortgage that can accommodate, remortgaging can get you a deal that better fits your lifestyle.
Fees Free Mortgages can help you secure the mortgage to suits you now, not when you bought your home.
We take your new circumstances into account to find the best remortgage deal that suits you best.
Higher income or a rise in your property’s value means you could increase your mortgage to help pay for major outgoings, rather than borrowing separately, and in some cases more expensively, from other sources.
If you’re remortgaging to raise money, the last thing you want is to pay any remortgaging fees for arrangement upfront.
We talk you through the available options and work out which remortgage deal will be cheapest overall, completely fees free!
Consolidate Your Debts
Remortgaging can allow you to release some of the equity you hold in your home and consolidate other debts, which can attract higher rates of interest than that of your mortgage.
At Fees Free Mortgages, we help people save money in interest or reduce their monthly outgoings drastically, with our fees free remortgage advice.
The impact of consolidating debt can really change the lives of those who have gotten into increased levels of debt and are struggling to keep up.
Fees Free Mortgages Services
We love providing whole of market remortgage advice and believe that any interaction with us will be a positive experience because we do our best to help you achieve all your mortgage goals!
First Time Buyers
We love helping you get on to the property ladder. We’ll oversee your first purchase from start to finish!
Looking to jump-start your investments with a buy-to-let mortgage? We will find you the best deal!
We’ll review your options with your existing lender and compare them against the market for you.
Whether you’re an experienced mover, or a first-time buyer, take advantage of the 95% mortgage guarantee scheme today!
Help to Buy
Need Help to Buy advice? Our straightforward team of Help to Buy experts will put you in the picture.
Are you self-employed and looking for an excellent mortgage deal? Our simple process will explain it all to you, and give you peace of mind.
A professional, calm, honest and genuine approach making us the top rated remortgage broker in Colchester
If you are considering remortgaging, make sure to contact our fees free independent remortgages advisors in Colchester, who will consider all your circumstances as well as available deals before offering impartial advice about which remortgage options are right for you.
Your Fees Free Remortgage Broker in Colchester won’t be paid a commission based on the size of your loan, or the choice of lender. So their only motivation is to get you the most suitable mortgage deal.
1. Initial Discussion
Our friendly fact find process will allow us to understand your goals and objectives. It’s also vital to understand any hurdles to remortgages at this stage. We’ll explain exactly who we are and what you can expect from our service.
2. Review the market on your behalf
We get straight to work. We explore the maze of mortgage lending criteria for you. We’ll make affordability and credit assessments ensuring the recommendations we make are suitable to your individual needs.
3. Share our recommendations with you
We’ll illustrate the facts and figures in an easy to understand presentation, including the justifications behind the recommendations.
4. Package & submit a full mortgage application
Our mortgage submission route is much easier than as ‘in branch’ experience. Why sit through a 2 hour interview with the bank when we can do this for you!
5. Oversee the process to completion
If solicitors are introduced, don’t worry. We’ll assist you with their paperwork and we can talk to them on your behalf. We’ll act as the middle man right through to completion.
Why Fees Free Mortgages?
We’ll find the best mortgage deal that suits you and give you expert financial advice while taking care of your whole mortgage application. Best of all, we’re FEES FREE! Putting the Free in Fees Free Mortgages.
No mortgage broker fees – Many firms charge upfront fees, or fees on completion.
No call centres and only 2 points of contact (Mortgage Broker & Case Manager)
Unbiased Mortgage Advice
We review the whole of the market, giving unbiased and independent mortgage advice.
Regulated & Accountable
We are directly authorised by the FCA and fully accountable for the mortgage advice we give.
Free Mortgage Advice
Free financial advice, including; mortgage, life insurance & protection.
We handle all the hard work and keep you updated until your mortgage completes.
Usually, the minimum interval between securing your mortgage and going for a remortgage is six months. Both variable-rate and fixed-rate mortgages can carry an early repayment charge if you switch mortgages within a certain timeframe, which can range from 1% to 5% of your mortgage debt but can be higher.
For fixed-rate mortgages, if the agreement is that the mortgage rate is fixed for (for example) 2 years, then this is the minimum amount of time that must pass between getting your mortgage and then switching to avoid an exit fee. This is because by leaving before that amount of time, you are breaking the terms of the agreement.
For mortgages as a whole, usually, the first year of your mortgage will have the largest exit fee associated with it. After this first year, the exit fees will reduce towards 0% as you complete the term agreed in your initial mortgage.
Can I remortgage when on maternity leave?Callum Marshall2021-06-17T13:44:51+01:00
It’s possible to remortgage while on maternity leave. Your lender will consider your credit score, financial situation, and history. If while on maternity leave you can evidence earning a steady income that exceeds the affordability requirements, in addition to the usual mortgage requirements, you can likely apply for a remortgage.
A lender is not likely to directly ask if you are on maternity leave, however, they are likely to ask you about your future plans. Honesty is the best policy here, as your financial situation will be likely to change by the end of maternity leave. A lender may ask to see payslips from before you went on maternity leave, bank statements, and/or a letter from your employer outlining what your return date will be, and what your salary will be upon your return. This is to inform lenders of your financial situation before maternity leave, during, and what it is likely to look like after you return.
A remortgage can, on average, take anything from 4 to 8 weeks from making your initial application. Oftentimes, you will have meetings with your lender’s mortgage advisors if you go to them directly. There are a few points to consider if you are looking to go down the remortgage route.
If you are leaving your current mortgage before your current mortgage term, you could incur an early repayment charge or exit fee. It is worth checking the terms of your mortgage and weighing this into your decision. You will also have to consider how your credit score is when you apply, and whether you will be able to exceed the affordability requirements for your new mortgage.
It would also be wise to consider what you want to achieve from your new mortgage. Are you looking for lower monthly repayments? Do you want to be able to pay off your outstanding balance sooner? Is what you want now going to be the same thing in the future?
How soon can you remortgage after buying a house?Callum Marshall2021-05-11T08:34:28+01:00
Typically, the minimum amount of time that must pass before you can remortgage your home after taking out a mortgage is six months. Fixed-rate mortgages and some variable-rate mortgages carry an early repayment charge, which is often 1% to 5% of your mortgage debt but can be higher.
If your initial mortgage is, for example, a 1.5% fixed rate for two years, it means your interest rate is guaranteed for that term. By remortgaging before the expiry of this term, you will have switched to another mortgage before your initial fixed term is up, which could mean you will be liable for an early repayment charge.
Oftentimes, the first year of your mortgage will carry the largest early repayment charge, which will then decrease towards 0% as you complete the term agreed in your initial mortgage.
Can I remortgage to clear my debts?Callum Marshall2021-02-07T12:01:38+01:00
It is entirely possible to use remortgaging to clear debt, however, the lender you choose must have absolute confidence in your ability to repay the additional money borrowed as part of the capital-raising process – meaning you must, at least, have enough equity to support the capital borrowed. Remortgaging is a commonly used method of reducing monthly outgoings, especially in the case of repaying credit and store cards.
Employing the assistance of a mortgage broker experienced in the credit raising field could help find the best possible deals, and ensuring your finances, application, and evidence are as strong as possible – convincing lenders of your ability to maintain payments.
Will having bad credit affect the rate on a remortgage?Callum Marshall2021-02-07T12:01:17+01:00
As is the case with many mortgages available on the UK market, capital raising remortgage rates are at least slightly negatively impacted by bad credit – with interest rates typically being higher for those with bad credit than good. Depending on the extent of past credit issues, the amount of equity required to obtain a remortgage can increase significantly.
Despite this, it’s not impossible to find a good capital raising remortgage deal when applying with bad credit. Employing the assistance of a mortgage broker experienced in the credit raising field could help find the best possible deals, and ensure your application is as strong as possible.
What types of properties qualify for capital raising remortgages?Callum Marshall2021-02-07T12:00:57+01:00
The vast majority of static homes including detached, semi-detached, terraced, and bungalow homes, alongside flats, apartments, maisonettes, shops, garages, surgeries, retail space, holiday homes, bars, pubs, and restaurants can be used in capital raising mortgages and remortgages. Of course, this list extends beyond what can be seen here.
In contrast to this, mobile homes of any kind are generally exempt from capital raising mortgages, this includes mobile homes, caravans, canal boats, and barges.
If you require further clarification on whether or not your property is a suitable fit for capital raising mortgages or remortgages, get in touch with a reputable mortgage broker, whose advisors will be able to offer informed, expert advice.
What can capital raising remortgages be used for?Callum Marshall2021-02-07T12:00:11+01:00
A good route for those who have paid off a significant portion of their existing mortgage or those who have come to the end of their current mortgage’s term, a capital raising remortgage is a secured loan which allows for the release of equity from an owned property.
When remortgaging to switch rates, a property owner would typically borrow an amount equivalent to their outstanding loan, those looking to secure funds generally borrow a higher amount. Though the borrower’s mortgage is now larger, it is affordable, and additional funds previously tied up in a mortgage can be used for a wide variety of purposes, including large purchases, and debt consolidation.
How much does it cost to remortgage?kat-admin2020-06-04T13:47:17+01:00
The best time to remortgage is not when the mortgage term comes to an end. You need to start looking for a new mortgage deal at least three months before the expiry date of your current mortgage. However, if for any reason you feel you’d like to find a better mortgage deal for yourself earlier than three months prior to the end of the term, please get in touch and we can help you find the best solution.
How can I remortgage my home?kat-admin2020-06-05T08:33:04+01:00
The first thing to consider when planning for a remortgage your home is to calculate how much you can afford to pay. Consider any additional fees you may need to pay such as an arrangement fee to your new lender or an early repayment fee for leaving your current lender. There may also be legal and valuation fees. When working with Fees Free Mortgages, we take all of that into consideration when presenting you with the best options for your remortgage.
Can I remortgage my home?kat-admin2020-06-04T12:00:18+01:00
Most people are able to remortgage their home and there are plenty of incentives to do so. We can help you explore the different options available to you and help you sift through the numerous deals to find the right one for you when you are ready to remortgage your home.
No! Coronavirus will not stop you from remortgaging. Advances in technology mean that we can conduct our initial discussion via telephone and we can email you our recommendations. The application process too can be completed with online ID checks and digital documents.
Get in touch to start your remortgaging process now!
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