Tag Archives: advice

Getting a mortgage in Didsbury, Manchester

We recently helped a couple obtain a mortgage for a house they wanted to buy in Didsbury, Greater Manchester. He’s some feedback they provided about their story:

Didsbury“I didn’t realise how difficult it would be to get a mortgage appointment even though I live in Didsbury village surrounded by banks and Estate agents.

My partner and myself work in the centre of Manchester Monday to Friday and the earliest appointment we could get was in four weeks time with the Halifax. We couldn’t even get passed the door at the Nationwide, Cheadle branch.

We are both currently renting and have saved a deposit for a house and were being given money from my partners family towards the purchase.

But how would we find out what we could afford without knowing what we could lend ?

My partner stumbled across Manchester Mortgages when looking on the internet.

We were able to speak to an adviser that day and an appointment was made for 2 days time.

We were advised how much money we could borrow and how much it would cost so we now have a better idea of what we are now able to look for.

The mortgage adviser also explained what other costs were involved like solicitor costs and survey.

The meeting was informative and gave us a lot of food for thought and we now have a much better understanding of the house buying process.”

Data Recovery

In this post we’d like to extend our huge thanks to hard drive experts Data Clinic Ltd for their excellent services in recovering the files and data from our server in double quick time.

Data Clinic LtdBusinesses like ours are reliant on the technology we use so when our computer server crashed on Thursday afternoon we were in a mild panic to say the least. Unable to open any of our files we were imagining the worst – that we’d lose the files for good.

Unable to access our data or get the computer working again we identified the problem to be with the hard disk drives that were in the machine and not working properly. Some colleagues of ours who have more to do with computers and IT than we do suggested we contact Data Clinic’s data recovery service.

We took our server to their local data recovery centre where they identified the cause of the problem being a crashed hard drive. Fortunately they were able to work some magic on the hard drive and rescue our files and our business was back online by Friday afternoon – less than 24 hours after the hard drive problem occurred.

So Data Clinic, this post is for you. Thank you so much for helping us in our hour of need – your services are life saving.

Remortgaging in Manchester

A popular way of raising extra cash for home improvements or to fund a large expense is to remortgage your house. Remortgaging has become very popular in the last few years and is especially attractive to people whose houses have increased significantly in value from when they first got their mortgage.

remortgage your Manchester home

For example if you first took your mortgage out 10 years ago, your house may have cost you £180,000. Now, 10 years later it may well be worth £250,000, so it’s increased in value by £70,000. You can’t spend this £70,000 however unless you sell your house. By remortgaging you get access to this £70,000.

Remortgaging works by switching your mortgage deal to a new one that releases equity and is more suitable for you. Remortgaging can extend the term of your mortgage and reduce the monthly repayments or you can keep your existing mortgage repayment schedule, often at a cheaper cost.

Remortgage Example
Using the above example, let’s say you’ve a house in Manchester that you bought 10 years ago for £180,000. It’s now worth £250,000, and you’ve got £130,000 left to pay on your mortgage, with monthly repayments of £900. Let’s also say that you want to raise £20,000 for some home improvements. Here’s how it works:

You remortgage your house, stopping your old mortgage arrangement and setting up a new one but instead of borrowing the outstanding £130,000 you borrow £150,000. You can set the term to 25 years or keep your existing one. With interest rates considerably lower now than they were 10 years ago when you bought your house you’ll find that you have been able to borrow more money but are paying back less because of the lower interest rate!

Remortgaging your house makes great sense for many people.

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