Remortgage Process

Step 1 - Review your circumstances

Remortgaging is where you switch the mortgage on your home to another lender or negotiate a better deal with your existing one. Sometimes it is not about saving money, it could be that you want to reduce your monthly repayments or need more flexibility.

It would be a good idea to book an appointment with our remortgage experts who will be able to work out whether remortgaging is the right thing for you to do. 

Step 2 - Compare the costs

Remortgaging may involve getting a better deal from your current lender, or it may mean changing lenders if a better deal can be found elsewhere. You should not  be put off if you have to pay an early repayment charge or fee as it could still work out cheaper over the longer term.

Our mortgage experts can search thousands of mortgage deals to find the best deal for you and compare the monthly fees with what you currently pay alongside any fees you might need to pay upfront to move to see if it's all worthwhile.

Step 3 - Complete the paperwork

Our experts will ensure that everything is done for you, they will ensure your mortgage application is completed and presented correctly to avoid potential delays or disappointment. Our advisers can offer you a reliable and competitively priced solicitor if you do not have one already.

Step 4 - Approval Process

The approval process will differ depending on the lender and the product you are applying for. The initial stage will involve the lender assessing your application and carrying out credit checks.

When the application has reached first stage approval, the lender will arrange for your property to be valued to ensure it is suitable security for your mortgage. During the initial approval process, your solicitor will get involved to request title deeds and details of the freeholder if the property is leasehold.

Step 6 - Mortgage offer and completion

Once the lender is happy with the valuation, references and credit checks, you will receive a formal offer in writing. However, your adviser's help and advice does not stop there. Over time, your needs and priorities will change, and so they will keep in regular contact to ensure the mortgage and protection you have in place continues to meet with your requirements. We will keep you posted on the housing market and mortgage news via email newsletters.

You may have to pay an early repayment charge to your existing lender if you remortgage.