Frequently Asked Questions

I would like to raise additional capital

With the significant increase in house prices over the past few years, many home owners today would like to release some of the equity in their home by re-mortgaging. But where do you start?

The first step is to contact us and we can advise you of your options.

We will work with you to check the terms and conditions of your existing mortgage which will tell us if you are tied-in to your mortgage deal or if there are any early repayment charges. You can then decide if it is worth switching to a different rate or stay put until the penalties have expired. Do not worry if you are tied in as it is possible for us to raise additional capital by using a second charge or secured loan without incurring the early repayment charges from your existing provider.

A fundamental part of our process is to gather information from you in order to offer you advice and make recommendations. Our advice is tailored specifically to you so we will discuss in detail the various mortgage options and repayment methods to ensure you get a complete mortgage solution designed specifically for your circumstances.

Once we have made our recommendation and you have decided to proceed we will of course guide you through the whole remortgaging process, but for your information this is what will happen:

• A “Decision in principle” will be submitted to the appropriate lender. This process involves us supplying information about you to the lender who will refer to credit reference agencies to determine your credit status. Please note, this usually leaves a “foot print” on your credit file.
• Once the “Decision in principle” has been accepted by the lender a full application form will need to be completed. You will need to provide varying levels of documentation to support your application but this can vary on a case by case basis and we will liaise with you to ensure this process is completed as smoothly as possible
• The new lender instructs a surveyor to inspect your current property to ensure it is adequate security to lend on.
• Subject to all the paperwork being satisfactory, the lender will issue a mortgage offer which will contain the amount of the mortgage and the terms that they will offer you.
• Solicitors will need to be instructed at this point to arrange the legal documentation, leading through to completion of the loan.

The whole process should take approximately 4 to 6 weeks to complete.

As we have access to thousands of mortgages including exclusive deals with a huge range of lenders, we can offer a wide range of remortgage offers with some special features:

• The ability to raise extra monies to clear credit cards and loans
• Fees-free products available
• The ability to raise capital for all purposes including business reasons
• Market leading remortgage deals available

Whatever your mortgage requirements, we're certain we can find the mortgage for you.

So if you want a better mortgage deal, or would like to release some of the equity in your home, talk to us today!

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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

We offer all our clients a free initial consultation after which a non refundable commitment fee of £95 will be charged with a further £250 payable on completion based on individual client circumstances. We also offer a fee only option whereby we charge a 2% broker fee on the amount borrowed and any commission derived from the lender is rebated back to the client.

The overall cost for comparison is 7.9% APR

Riverside Mortgages Ltd is registered in England and Wales. Registration Number: 5978086