Home improvement projects are more popular than ever, and the lockdown has increased the amount of time that homeowners spend in their homes. At the same time, the property market is still uncertain with house prices rising and, in some cases, less available property on the market.
Therefore people naturally are looking to make more of the space they are in by investing in renovations but finding the funds to complete your project can be challenging. Raising the necessary funds often needs a lender that understands the need to 'see' the final result, which is why we take a personal and adaptable approach to secure the right remortgage for your renovations.
In 2020 NatWest surveyed 562 homeowners to determine what it means to remortgage and why a homeowner might want to do it. It was unsurprising to find the top three reasons for remortgaging were found to be:
Reducing their monthly mortgage payments
Funding home improvements
Helping relieve financial anxiety on their households.
If you want to improve your home or are looking to sell, it can be worthwhile to invest in renovation - whether new windows, new kitchens, redecoration or a new extension! If you need inspiration on what can be achieved, popular 60-minute makeover presenter and Scottish Interior Designer John Amabile set up a Facebook Group during lockdown to allow people to share their interior projects and inspiration, including some of his projects. If you wonder which improvements can add the most value, Unbiased has a good article on return for your investment here.
Whether it is saving money on your current mortgage or securing new funds that see the end value of investments, we access the whole mortgage market to find the right deal for you - some of which are not available on the high street. And, if your equity has risen, then you may be eligible for better offers than you think.