Are you coming to the end of your current mortgage deal? Would you like to spend less each month? Remortgaging is an excellent solution to this, and we can support you through the process from start to finish.

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Helping you remortgage to a new deal

Remortgaging is the process in which you find and secure a new mortgage deal to transfer your mortgage debt. It’s the same process as when you first found your current mortgage deal, but replaces, extends or increases how much you borrow compared to the current plan.

Remortgaging has different benefits depending on your circumstances. Usually, remortgaging aims to reduce monthly payments or pay off your debts faster than the current deal. Some of the common reasons for remortgaging include:

Avoid variable rates – by securing a new fixed-rate deal. A lander’s “standard variable rate” usually requires you to pay more each month, and so a new fixed-rate plan is preferable if you intend to stay in your home for at least a few more years.

Borrowing more money – with your current lender. This usually requires providing evidence for why you would like additional funds, such as a builders’ quote for an extension or home improvements.

Spending less each month – by finding a deal with a lower rate of repayment. This could require an early repayment charge to your current provider, but the long-term savings could be more cost effective.

Spending more each month – to pay off your mortgage faster. This is known as overpaying and is particularly common for those who have received a significant pay rise or inheritance. Not all mortgage deals allow you to do this, and so remortgaging may be an option to a mortgage quicker.

Your current mortgage deal is coming to an end – and switching to a new mortgage deal could result in a better rate of repayment or another benefit, such as a longer fixed rate.

There are a few ways to remortgage your property, but we recommend using an Independent mortgage Advisor (like us) to make sure you are given the opportunity to compare mortgages from across the market.

If you decide to speak with one of our expert Advisors, we will work with you to understand your circumstances, determine how much you could borrow and engage in a detailed research process before making any recommendations. We will also manage most of the process for you, taking care of the paperwork and supporting you from start to finish.