ADVERT I SEMENT FEATURE
NEW YEAR, NEW HOME Mortgage Advice Bureau Cambridge recommends a way to fund your renovation project
ith the start of a new year, it could be the perfect time
to change things up and turn your house into the home you’ve always dreamed about. If you’re considering renovating or extending, there are a few things to think about first. Whether you want to add value to your property, create some more room, or simply spruce up the living space, taking on home improvements can be a big decision. Before taking the plunge, we recommend contemplating the following. WHY ARE YOU RENOVATING? As we’ve spent more time than ever cooped up recently, many people are looking at ways to improve their current homes. That could be by adding an office (particularly if working from home), or a living room extension, to offer a little more space for you and your family. WHAT VALUE WILL IT ADD? If you’re considering extending, renovating the kitchen or just redecorating, make sure your chosen upgrades increase the value of your home. Adding an extra bedroom is much more likely to push up the asking price than, say, extending the kitchen space. Ultimately, it’s your decision – but it’s always worthwhile thinking to the future when deciding what to revamp. HOW WILL I FUND IT? Did you know you can remortgage to release equity from your home, to help
fund the renovation project you’ve always wanted? Remortgaging means changing your current mortgage deal from one lender to another, and there can be many reasons for doing this, such as: • Releasing equity to help fund renovations •Saving money on monthly repayments • Helping pay off current debts •Your current mortgage rate is up for renewal HOW CAN REMORTGAGING FUND MY HOME RENOVATIONS? We know how expensive moving home can be. That’s why remortgaging could
be the perfect option if you want to make some changes to your much-loved house without having to move. It offers up the opportunity to take out money from your current home in the form of a lump sum, which can then be put towards home improvements, such as a new extension or decoration costs. Speaking to a mortgage adviser about how remortgaging could work for you is always a good idea. The experts at Mortgage Advice Bureau Cambridge have access to 90+ lenders, and can search over 12,000 products to help find you the perfect deal. If you’d like to discuss your home renovation project, or find out more about remortgaging, get in touch with us via our website: mortgageadvicebureau.com/cambridge YOU CAN REMORTGAGE TO RELEASE EQUITY
You may have to pay an early repayment charge to your existing lender if you remortgage.
WATCH THIS SPACE Think about why you want to refurbish, and how it could improve the value of your house
74 JANUARY 2022 CAMBSEDITION.CO.UK
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