mortgages
Remortgaging Made Simple
Restructure. Refinance. Reassure.
Remortgaging involves switching your existing mortgage to a new deal, often with a different lender, to take advantage of more favourable terms. It’s a smart financial move for many homeowners, particularly when their current deal is coming to an end.
Why Remortgage?
There are several common reasons to remortgage:
To secure a lower interest rate once your introductory or fixed term expires.
To reduce your monthly repayments or total interest paid.
To release equity for home improvements or other major expenses.
To consolidate debts into a single, manageable payment.
Considering Debt Consolidation?
Using a remortgage to consolidate debts can offer short-term relief, but it may also mean paying more interest over a longer period. Securing unsecured debts against your home carries serious risks and should only be considered after exploring all alternatives.
We recommend seeking advice before proceeding. Free, impartial support is available via services like MoneyHelper.
Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Things to Consider
While remortgaging can bring significant financial benefits, it’s important to take a well-informed approach. Key factors to review include:
Fees & Charges: You may incur valuation, legal, or arrangement fees even if your new deal looks cheaper on the surface.
Early Repayment Charges: Your current lender may charge a fee if you exit your existing mortgage early.
Repayment Term: A lower monthly payment may extend the overall term, increasing the total amount repaid.
Alternative Options: In some cases, switching to a new deal with your current lender (a product transfer) may be more cost-effective than a full remortgage.
Why Work With Us?
We offer tailored remortgage advice to help you navigate the process with confidence, aligning your mortgage with your broader financial goals. Whether you're looking to reduce costs, access equity, or simplify your finances, we’ll guide you through the most suitable options.
Frequently Asked Questions
How long does the remortgaging process take?
The remortgaging process typically takes 4-8 weeks, depending on factors like the complexity of your application and how quickly documents are submitted. We’ll guide you through each step and ensure everything moves as smoothly and efficiently as possible.
Can I remortgage if my financial circumstances have changed?
Absolutely, you can remortgage even if your financial situation has shifted. However, your choices will be influenced by aspects such as your income, credit history, and the value of your property. We're here to assist you in finding lenders that align with your present circumstances.
Can I remortgage to release equity from my property?
Yes, remortgaging can allow you to release equity, which is the difference between your property’s value and your remaining mortgage balance. This can provide funds for home improvements, debt consolidation, or other large expenses.
Can I remortgage to release equity from my property?
Yes, remortgaging can allow you to release equity, which is the difference between your property’s value and your remaining mortgage balance. This can provide funds for home improvements, debt consolidation, or other large expenses.
Thinking of remortgaging?
Speak with one of our experienced mortgage advisors today for clear, trusted guidance.