The Rise in ‘Quick Turnaround’ Remortgaging
Many homeowners, who rushed to take advantage of the stamp duty holiday, are already remortgaging property due the continued rise in house prices. Those who purchased property between April 2020 and May 2021 are already considering releasing the additional equity in their properties thanks to the rising house prices caused by the ‘boom’ in the property market during the pandemic.
Homeowners can release equity from their home and access cash in order to develop properties, renovate their homes, purchase additional properties or make an expensive purchase. You can choose to take the money in one lump sum, or in several smaller amounts.
‘Quick turnaround’ Remortgages are becoming increasing common as the house prices in England continue to rise. Remortgaging is becoming popular as new homeowners are wanting to take advantage of the increased equity available to them.
Alternatively, many new homeowners inherited their properties during the pandemic. Some may have debt remaining on the mortgage, and remortgaging has enabled for the debt to be cleared or reduced. Homes ,with no outstanding mortgage, new owners have remortgaged the home for cash and then reinvested that cash on renovating the property. This has then enabled them to become new landlords, or added to their existing portfolio, and charge a higher rental price.
If you are interested in finding out the current value your home, you can visit Zoopla. If you would like a no obligation Mortgage quote , you can contact Friends Capital for a free consultation.
Two Steps to Contacting Friends Capital
One of our friendly advisors will either call you back within 24 hours (usually the same working day), or will take details from you in order to best deal with your situation.
When you speak with us, we will take a ‘fact find’. At this stage we take basic details about your situation. We will then search the whole of the market and find you the best deal available.
If you are happy with the deal that we offer, we will then contact the lender for you and get you what is called a ‘decision in principal’.
If you’re happy with the decision in principal then we will secure this deal for you and deal with the application for you on your behalf.