Remortgaging

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Remortgaging your home can be a great opportunity to switch to a better interest rate.

Remortgaging could lower your monthly payments or help you pay off your mortgage sooner. You could also refinance to start your dream extension or simply avoid an expensive standard variable rate when your initial term ends.

Our mortgage advisors will listen to your requirements then advise you on the best options, tailored to your situation.

Step 1

Complete our quick form.

Step 2

Receive free mortgage advice on the best and most suitable mortgage for your situation.

Step 3

Apply for your perfect mortgage; your mortgage advisor will take care of the paperwork and keep you updated.

Get started by completing our quick form.


Is it time for you to remortgage?

We can help you understand the options and advise if a remortgage could be right for you. Some of the key considerations are:

  • Have you had a change in circumstances?
  • Do you plan to add an extension instead of moving?
  • Would you like to raise funds from the equity in your property?
  • Have you had a change in job status, such as becoming self-employed?
  • Would you incur high repayment charges or other costs by switching away from your current deal?
  • Do you want to borrow a small amount – some lenders have a minimum amount they will lend?

Did you know…

There’s a range of other costs to take into consideration when remortgaging. Our mortgage experts will work with you to understand your situation and can factor in any additional costs into your tailored recommendation. These can include:

  • Early repayment charges: early repayment charges are a penalty for leaving the mortgage before it comes to term, often calculated as a percentage of your loan value. Our experienced advisors will explore these for you.
  • Lender’s arrangement fee: this is the administrative costs of organising your mortgage. This could be a flat fee or a percentage. Your lender will be able to advise of arrangement fees that apply to your particular mortgage. Your advisor will be able to advise on arrangement fees if they do apply to a particular mortgage.
  • Higher lender charge: if the mortgage you are taking out is a sizable percentage of the property value (typically >90%), lenders may add an additional charge to insure themselves in case you can’t meet the monthly payments.
  • Valuation fees: this covers the cost of hiring a surveyor to assess the property’s condition and value.
  • Legal fees: these cover the cost of hiring a solicitor for the process of preparing the deeds and carrying out the conveyancing process.
  • You can get instant online mortgage options in as little as 60 seconds with our online mortgage application, CalculateMy Mortgage. It combines an online mortgage search engine with our experience in financial advice, to help you understand the best mortgage options for you, anytime, anywhere.

Your home may be repossessed if you do not keep up repayments on your mortgage.

*Compare & Save £347 Per Month – as per: https://www.which.co.uk/news/2018/12/should-you-remortgage-in-2019/ – Dec 2018

All our Mortgage & Protection Advisers work nationwide and have access to the whole of market.

Your questions answered

How does remortgaging work?

When you remortgage your property, you are replacing your existing mortgage with a new deal. This can either be for the same amount that is outstanding on your current mortgage, or for a lower or higher amount. There are lots of different remortgage deals to choose from so it’s a good idea to compare several before choosing. Once you’ve found a competitive remortgage deal, you should also check whether you can remortgage without having to pay any early repayment charges on your current mortgage. Once you know which deal you want to move to, you must submit your application, providing proof of income, identification and details of any outgoings. The lender will check this information and, provided they are satisfied that you can afford the mortgage, they’ll then provide you with an offer.

When should I remortgage?

You can start to think about remortgaging before your current mortgage deal ends – many mortgage offers are valid for 3 to 6 months from when they are issued. One benefit is that getting a new deal in place can avoid you paying an expensive standard variable rate.
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