01603 216881
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Remortgages
Remortgaging is the process or switching your mortgage to another lender.
Our remortgage service is comprehensive and considers what your existing mortgage lender will offer compared to the rest of the market. Where your existing provider is the best option, we will make the switch for you, free of charge.
Many customers use remortgaging for additional borrowing, whether that is to consolidate other debts to reduce overall monthly outgoings, raise capital for home improvement or release equity for a deposit for an investment property (Buy to Let).
Whatever you are looking to do, we are best placed to help. Charwin Mortgage have unlimited access to the mortgage market, from the well-known lenders to smaller provincial Building Societies, private banks, and specialist lenders that most brokers don’t ever consider.
And can help with all types of borrowing needs too. We can help raise mortgage funding up to 100% of your property value as well as help people with less than perfect credit profiles and borrowing for more unusual projects.
Welcome to Charwin Mortgages.
Secured Loans
Secured Loans are used by many people as an alternative to remortgaging. Secured Loans are also known as Homeowner Loans or Second Charge Mortgages.
Secured Loans are a specialist form of lending that most brokers in the market don’t consider or have access to. We have one of the largest Secured Loans panels in the UK so have the ability to help almost anyone.
They are particularly helpful for people who wish to preserve good mortgage terms rather than remortgage to raise additional capital, applicants with poorer credit profiles wanting to raise money where the mortgage market fails to offer good terms, or those wanting to borrow higher proportions of their property value.
We can also help where the purpose of raising funds is more unusual, things such as business purposes, where the mortgage market generally will refuse to lend.
We always look to the mortgage market first. If this fails or is not the best advice, we will then look to the secured loan market to help.
Our success rate is very high, and we manage the whole application process from start to finish, ensuring the transaction is smooth, organised and cost effective.
Bad Credit
Sometimes life can be tricky or deals us a tough hand. We firmly believe that having bad credit profiles should not define your life moving forwards and have specialist brokers on hand to help.
We can help people with outstanding or satisfied CCJs, defaults, missed credit payments or even mortgage arrears. We can also help to repay existing IVAs.
The mortgage market and most mortgage brokers are not accommodating for people in this situation. We are however, ready, and well equipped to help turn the situation around.
So how do we do this?
We have unlimited access to the UK mortgage market and one of the largest secured loan panels available. With these combined, we can assist most people raise money for any purpose, repay outstanding bad debt and improve credit scores.
Once we have completed the first steps, we then work a plan with the customer timetabling future financial arrangements with a view to reducing rates, reducing outgoings further and help get them back in to mainstream lending.
Having a good credit profile is an essential utility in modern life. Let us help you get you back there.
Debt Consolidation
1 in 3 customers we speak to are looking to consolidate debts amongst other things. It is a very popular and common action to take, resulting sometimes in dramatic reductions in monthly outgoings.
Some people are of the view that consolidating debt means that you pay back more over the longer term. This as a maths exercise may be true, however the total to repay is not the only consideration.
We need to get through month to month and keeping costs down and more manageable when everything around us is increasing is a lifestyle decision most of us face.
We take a balanced view on debt consolidation. We know that credit cards are tough to repay, in fact they are that way by design.
The example below demonstrates this. If the customer stopped using the card altogether and maintained the minimum payments, you can see just how long the account takes to repay.
| CREDIT CARD BALANCE | £9,000 |
| INTEREST RATE | 21.9% |
| MINIMUM PAYMENT | £190 |
The account will take 9.21 years to repay.
The interest will £11,996.53 over this period.
If debt consolidation is on your agenda, or perhaps just thinking about it, our advisers are ready to find the best ways to restructure your debt whilst paying it off in the fastest and most efficient manner.
If you have missed payments due to your monthly debt burden, have defaults or CCJS, we can still help. Our expert advisers are ready to discuss your best options.
Think carefully before securing other debts against your property. The total to repay these debts may be considerably more.
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.
Home Improvements
1 in 2 people who enquire to us are looking to borrow additional money through their mortgage for planned home improvements. These vary from kitchen and bathroom replacements to more elaborate extensions.
Customers who improve their property naturally benefit from the lifestyle enhancement they provide as well as adding value to their homes. Adding value reduces your overall loan to value and can allow you to obtain better mortgage rates.
Spreading the cost of larger works on your property like extensions makes many projects achievable where the unsecured route would be prohibitive due to monthly cost.
Capital Raising
Some customers wish to raise additional capital for reasons other than debt consolidation or improving their homes.
One of the most common reasons is deposits for first or additional investment properties. More recently, the availability of perhaps more profitable holiday let mortgages has seen a surge in activity.
Most legal purposes can be considered, and our advisers are ready to present you with the most cost-effective options.
For residential, consumer BTL and business BTL
Your consultation is obligation and cost free, as is looking at any recommendation we may offer. We do not always charge a fee. This depends on your circumstances. When we do charge fees we take into consideration the commission we receive from the lender. Please check the Key Messages provided to you for the basis on which we charge fees. It will also be explained to you by your adviser. All fees in all circumstances are discussed with you and put in writing prior to any application being made. Our charge to advise and arrange your mortgage is £695. We deduct any lender commission expected from this fee. If the lender commission exceeds £695, we will not charge you at all. For example, if we receive £600 from the lender, we will levy a charge to you on completion of £95. We do not charge for setting up life assurance, critical illness, income protection or other insurance.
For 2nd charge (secured loan) business, Representative APRC 7.5% Variable.
Representative example: Annual interest rate of 6.9%, Representative 7.5% APRC Variable. Based on borrowing of £80,000 over 240 repayments of £631.06. Total amount repayable £151,824.40. Includes lender fee of £495 and broker fee of £1,500.
Charwin Private Clients are authorised and regulated by the Financial Conduct Authority. Our firm’s number is 498486. You can check our details on the FCA register by clicking here.
Our trading address is Holland Court, The Close, Norwich, NR1 4DY. Tel: 01603 216881 || Fax: 01603 216885
Registered in England No: 06628612. Registered office: Holland Court, The Close, Norwich, NR1 4DY. This site is only directed at persons within the UK.
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