Re-Mortgage FAQs

When should I re-mortgage?

We’d recommend you start the re-mortgage process 6 months before your current rate is due to expire. This is to ensure we can secure the best rate as soon as possible.

Which lender is best?

Whilst it may feel easier to stick with your current lender, this doesn’t necessarily mean you’ll be getting the most competitive rate. We can explore over 50 lenders for you meaning you can get the right deal and not be swamped in a sea of paperwork.

Is the lowest rate what I want?

Surprisingly finding the lowest rate is not always the most cost-effective option. We will take into consideration lenders product fee’s, cash back incentives and even solicitor costs so you can see the total costs over the term and find the right solution for you.

What about my future plans?

We want to make sure your mortgage term takes into consideration what is coming next for you. Job promotion, starting a family or even planning for retirement could mean you need to adjust your current mortgage term. We’ll work through this with you and plan your financial future with you.

How do I repay my Help to Buy equity loan?

If you’ve taken advantage of the Help to Buy scheme you’ll need to factor in how you plan to repay your equity loan. When re-mortgaging is a great time to look at your affordability and explore your options. You may want to repay the equity loan in stages rather than in one go, or potentially defer the payment.

Can I change the parties on my mortgage?

If you need to add or remove a party to your mortgage this can be looked at when re-mortgaging to avoid paying an early repayment charges to your lender. This would require additional work from your solicitor, so the sooner you start the process the better.

Are there any risks with my re-mortgage?

You may have to pay an early repayment charge (ERC) to your existing lender if you re-mortgage before your current deal expires.

Contact us today to discuss about your re-mortgage where our experts can advise you on costs, best deals and and check for any possible ERC’s.