Manchester Remortgage

Manchester Mortgages

Manchester remortgage deals offer a range of packages to suit your lifestyle, with the competitive rates and exemplary customer care you’d expect from a mutual society. Choose between discounted, fixed-rate and variable rate products, many of which have a cashback facility. And, because Manchester Building Society doesn’t use credit scoring, past arrears may not be a barrier.

Manchester Review

The Manchester building society has provided investment, mortgage and savings services since 1922. Based in the heart of Manchester, it operates through a network of agencies nationwide. At the end of 2006, The Manchester’s assets stood at £676 million, with mortgage balances comprising £555 million of the total.

In January 2007 The Manchester acquired Whiteaway Laidlaw Bank Ltd, a commercial banking and property finance service for small and medium-sized enterprises.

With a Manchester remortgage, you could:

• Save on monthly repayments with a low rate in the early years of the policy
• Release an initial ‘lump sum’ of cash for new furniture
• Consolidate debts from personal loans and store cards
• Avoid moving home by raising finance for an extension or renovations – these can increase the value of your property if carried out correctly

What is a remortgage?

A remortgage is when you replace your existing mortgage with a new one. There are many reasons for remortgaging, but the majority fall into one of the two following categories:

• Remortgaging to save money – If you have a fixed rate mortgage deal, your interest rate will usually switch to the lender’s Standard variable Rate (SVR) which is likely to be higher and will probably mean that you have to pay more each month. By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.
• Remortgaging to raise money – Remortgaging can allow you to release some of the equity in your home. This could be useful if you wanted to carry out repairs to the property, add an extension, help your child with their own mortgage deposit, or consolidate other existing debts.