Manchester Mortgages were contacted by prospective clients (Early 40’s) looking to remortgage their property so they could make home improvements (additional bedroom) above the garage and had received costs for the work.

They had considered moving home to a bigger property which had the additional bedroom they needed but due to the increase in property values and all the associated costs (Solicitor fees, Estate Agents fees, Stamp Duty moving costs etc) this was not possible. To be able to afford a property within their budget it would me them moving out of the area.

The clients really liked the area that they lived in, and  the schools their children attended and were close to extended family.

After an assessment of their circumstances the client had in excess of 50% equity in their property, had good incomes with only a small car loan outstanding.

Manchester Mortgages were able to review the market and were able to provide the clients with the best 2,3 & 5 year fixed rates on the market.

However to ensure that the mortgage payments were affordable the mortgage term had to be extended by 10 years which the clients were willing to accept.

The mortgage lender recommended provided a FREE valuation of the property, with no arrangement fee for the product selected and would either offer to pay the legal fees when changing lenders or provide a cash back to help with solicitor costs.

Their current mortgage had early repayment charges which ended in 4 months time and the clients were not prepared to pay these.

The new mortgage agreed was valid for 6 months so the early repayment charges did not need to be paid and this also fitted in with the builder who was to carry out the work.

Manchester Mortgages have in excess of 75 years experience arranging remortgages for clients throughout Manchester and beyond for a variety of reasons.

Please contact us on 0161 706 0242 or email and we will be happy to assist.