Remortgages.
Whether your deal is ending, you want to raise money or you need to change who is on the mortgage, we compare staying put with moving lender.
What is a remortgage?
A remortgage is a new mortgage on a property you already own, whether that is your home or a buy to let.
Most people remortgage because an initial deal is ending and the lender's standard variable rate is about to apply. Others do it to borrow more, or to add or remove someone from the mortgage.
Who is it for?
Remortgaging is worth a conversation if you are:
- Coming to the end of a fixed or tracker deal
- Already on your lender's standard variable rate
- Raising money for home improvements
- Thinking about using your mortgage to repay other debts
- Adding or removing a name, known as a transfer of equity
How we help.
We talk through your circumstances and what you want to achieve, then search a wide range of lenders and products. Our recommendation takes account of early repayment charges, legal fees and valuation costs as well as the rate.
Sometimes the right answer is to stay with your existing lender, through what is called a product transfer or rate switch. If that is the case, we will tell you.
If you want to borrow more, we look at a further advance with your current lender alongside the options elsewhere.
Many lenders let you secure a new rate several months before your current deal ends, so it is worth speaking to us early.
Once everything was provided the remortgage was so quick. These guys make it so painless and easy I was questioning myself on how quick it was.
What happens next.
Book a free call
Tell us where you are and what you want to do. There is no obligation and no hard sell.
See your options
We research lenders against your circumstances and explain what we recommend, what it costs and why.
We handle the application
We prepare and submit it, deal with the lender and keep you updated at each stage.
Offer to completion
We stay involved until you complete, and we are here when your deal is next due for review.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Adding other debts to your mortgage may lower your monthly payments, but you could pay more interest overall because you repay them over a longer term.
Still have questions?
When should I start looking?
Earlier than most people think. Many lenders let you reserve a rate several months before your current deal ends, and an offer normally stays valid for a few months. Starting early gives you time to compare without drifting on to a standard variable rate.
What is a product transfer?
A product transfer, sometimes called a rate switch, is a new deal with your existing lender. It usually involves less paperwork than moving lender. It is not automatically the cheapest option, which is why we compare it with the wider market.
What is a standard variable rate?
It is the rate your lender moves you to when an initial deal ends, unless you arrange something else. It is usually higher than the lender's new deals and can change at any time.
Phil has written a longer guide: what is a mortgage lender's standard variable rate?
Will I pay fees to remortgage?
There can be product fees, valuation fees and legal fees, and an early repayment charge if you leave a deal early. Some products come with free valuations or legal work. We set out the costs alongside the savings so you can see whether a switch is worthwhile.
Have a no obligation chat with us.
So that we can identify your options and the best next steps, book a free call. We will learn about you and your circumstances and put together a plan.