It’s going to be a busy summer for sports fans. With the Euros and the Olympic and Paralympic Games taking place, which were postponed from last year, plus, with loads more to look forward to including Wimbledon and cricket’s inaugural Hundred tournament, your summer is covered.
And what better way to enjoy watching the action than by creating the perfect garden and inviting your friends over? If you do it right, it’ll be like having your own personal beer garden.
Also, the good news is whatever you’ve got planned to create your perfect space, whether that’s a decked seating area, an outdoor bar, or even extending your home to make a more sociable living area. It could be more affordable than you think if you fund it by remortgaging. A beautiful garden or an extension can add value to your house too.
How does it work?
When you remortgage, you take out a new mortgage with a new lender. With the interest rate at an all-time low of 0.1%, it could be a great time to remortgage as there are some excellent mortgage deals available.
And if you’re planning home improvements such as giving your garden a makeover, when you remortgage you can release some of your home’s equity to pay for the work.
While you’ll be borrowing more on your mortgage if you’re planning to do this, you may find that if you switch onto a better deal than you’re currently on, your payments won’t increase much. And it may sound too good to be true, but if you’re currently on your lender’s Standard Variable Rate, you could even find your monthly payments actually reduce.
Although bear in mind, if you borrow more, you will pay back more in interest over the term of the mortgage.
What do I need to think about?
When you remortgage, it’s important to sit down and go through the facts and figures carefully. Taking out a new mortgage can involve having to pay fees such as an arrangement fee and a valuation fee. So find out and if this is the case, factor these into your calculations.
Also, do you need to pay an early repayment charge if you leave your current mortgage deal before it ends? It’s important to find out so you can include this when you’re looking at the figures.
Get some friendly advice
But instead of getting bogged down with all the details, why not let one of our expert mortgage advisers take the strain for you? They’ll search through 1,000s of mortgages to find the right deal for you. And depending on your circumstances they may also be able to suggest options you hadn’t considered. For example, are you tied into a fixed-rate mortgage and would you need to pay early repayment charges if you remortgage? It may be better for you to consider additional borrowing from your existing mortgage provider to fund the works.
Our award-winning team of advisers will also look after all the paperwork for you too. Which will leave you with more time to enjoy the summer of sport!
What else can you help with?
But we can help with a lot more than getting your home and garden summer-ready. We can also help with:
- First time buyers: Are you trying to get on the property ladder? We can explain all your options to you, depending on your circumstances. For example, if you’ve got a small deposit, we can talk you through 95% mortgages and the Help to Buy Equity Loan scheme to help get you on your journey to becoming a homeowner.
- Buy-to-lets: Are you planning to join the huge volumes of buy to let investors moving quickly to snap up rental properties before the stamp duty holiday ends? We can help you get there.
- Home movers: In this quick-moving housing market, you may need to move fast to secure your dream home. Our advisers can help you get your ducks in a row to put you in the strongest position possible.
- Insurance and protection products: However, it’s worth remembering we are living in uncertain times so you may wish to put protection in place, such as mortgage payment protection. We can guide you through your options.