Advise please on re-mortgage

littledevil_2

hi my partner and i are looking at remortgaging his current property to do a number of things really
1. Get a better rate currently paying 6.5 %
2. Change it into a joint mortgage
3. Get some extra money to pay off debts, new kitchen and bathroom (needed badly fed up off cooking on a camping stove)

The amount we will be looking at borrowing will be £65000, house is worth approx £120000.
I am just wondering if anyone would have any advise on the best people to look at for this mortgage. As my partner is self employed (he does have 5yrs accounts), he also doesnt have the best credit history.
I work full time on a perminant contract and my credit isnt the best either however there have been no missed payments on the current mortgage.
Ideally we would like to arrange it ourselves instead of using a brooker, what do you think?

I would be gratfull fo any help or advise

Thanks
Nic

AndrewSmith

Hi,

With such a case where it is not cut and dry, what is your reason for not wanting to use a broker?

Especially if they are fee free as it will cost you nothing to use their experience and knowledge of the mortgage market.

Andy

littledevil_2

to be honest we havent really looked at them that much and prob kind of thought that they charged or there was some sort of catch. Bit stupid i know considering the amount of money we are talking about.
Also i work shifts and my partner works Mon-Fri and tend never to have time off together execpt on sundays to go and see someone like a financial adviser but we could use a broker of the net i supose
Nic

AndrewSmith

Most smaller independantly owned firms will visit you in your home when it is suitable to you, or will be happy to deal over the phone or post etc (even on a Sunday).

As for charges or catch etc, as long as you make the broker explain their fee structure to you (commission from the lender or fee charging) and provide you with this in writing then you will be fine.

A broker will provide you with fully indemnified advice relating specifically to your situation once he is in receipt of all the facts about your case.

Make sure the broker has the relevent experience in your type of case, and that he has no restrictions on who he can approach by way of lenders for you.

Hope this helps

Andy

littledevil_2

Thanks Andy
Well i know what im going to be doing all weekend now
thanks again
Nic