Remortgages and Second Charges in Saffron Walden
Remortgage and second charge advice for homeowners in Saffron Walden, Great Chesterford and Newport.
Deal review
We look at your current mortgage and when it ends
Costs and risks explained
Early repayment charges, fees and the risks to your home
Routes compared
Remortgage, second charge or staying put, set out side by side
If your mortgage deal in Saffron Walden is coming to an end, or you want to borrow against your home, it is worth looking at your options before your lender moves you to its standard variable rate. A remortgage can also release money for repairs, improvements or other plans.
We compare staying with your lender, switching to a new one and, where it may suit you, a second charge.
Remortgaging in Saffron Walden
Homes in Saffron Walden are often higher in value and larger in size than the Essex average, and loans can be correspondingly larger. A lender looks at your income, your outgoings and the value of your home, and larger loans get a closer look. We explain what a lender will want, and which mortgages may suit.
Many homes here are period properties, and upkeep and improvements, such as insulation, a new roof or an extension, are common reasons to borrow more. If your home is listed or in the conservation area, you may need consent for some work, and a lender may ask about it. Improving a home’s energy efficiency can help with running costs, and some lenders offer products for it. Check the date your deal ends and what leaving early would cost before you decide.
How it works
Initial conversation
We look at your current mortgage, what you want to achieve and how much you want to borrow.
Costs and options compared
We set out the costs of staying, of remortgaging and of a second charge, and the alternatives.
Recommendation
We explain what we would recommend, and why.
Application
We help you complete the application and provide the documents the lender needs.
Valuation and legal work
The lender values your home, and legal work is completed where needed.
Completion
Your new mortgage or loan starts and, for a remortgage, your old mortgage is repaid.
For the full guide, see our Remortgages & Second Charges page.
Frequently asked questions
Can I remortgage a listed home in Saffron Walden?
Often yes, although fewer lenders may consider it and a fuller valuation is possible. We check which lenders may suit your property before you apply.
Can I borrow to improve my home’s energy efficiency?
You can, either through a remortgage or a second charge, and a few lenders offer products linked to it. Check the costs carefully, and we can explain how it affects your mortgage.
Is a second charge the same as a remortgage?
No. A remortgage replaces your existing mortgage. A second charge is an additional loan secured on your home, and your existing mortgage stays in place.
When should I start looking at a new deal?
It is sensible to start a few months before your current deal ends. Many lenders allow you to arrange a new deal in advance. We will check the timing for your mortgage.
Important information
- Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
- You may have to pay an early repayment charge to your existing lender if you repay your mortgage early, and a fee may be payable to a new lender.
- Think carefully before securing other debts against your home. Making debts longer term may increase the total amount you repay.
The information on this page is general and is not advice. Advice depends on your personal circumstances.
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