What is a Remortgage & How Does it Work?
Taking out a mortgage is a large financial commitment which can last for a long time. Even if you put in a lot of work to find a great deal, it might not always be the best one for you, or you might find that an agreement which was once beneficial, no longer offers good value.
If you’re not getting the best deal on your mortgage, then it might be time to start considering your remortgage options. A remortgage can save you a lot of money and can give you more financial freedom. However, it is important that you have a good understanding of what it entails before you start the ball rolling.
This guide will give you a good overview of the remortgaging process, as well as giving you essential advice on how and when to get started.
We will cover:
Why should I remortgage? Is it time to remortgage?
How can I get ready to remortgage?
What is a Remortgage?
A remortgage is when you switch from your current mortgage to another product. This doesn’t involve moving home, but it does mean replacing your financial agreement on your property with another. In most cases, remortgaging is done in order to get a better rate or to unlock extra funds. It is not the same as borrowing more money from your current lender.
When you sign a mortgage agreement and move in, you are not locked into the same rate for the entire repayment period. Although you may have an initial tie-in period where there are penalties for switching, you can always research better deals. The most common reason to remortgage is to ensure you do not fall on to your current lender’s SVR Standard Variable Rate at the end of your initial benefit period, which is typically determined by a 2, 3 or 5 year fix.
So if you feel your agreement is no longer providing the best value, or you are within 6 months of the end date of your current fixed rate period, you can shop around and make the switch over to a completely new product.
Why Should I Remortgage? Is it Time to Remortgage?
You may be wondering why you may want to remortgage and if you want to, is now the right time? In this section we will cover some of the reasons for considering a remortgage and what you should be on the lookout for during your research.
It is the End of your Initial Tie-in Period
There are Better Rates Available
Your property’s LTV has reduced
There has been an interest rates rise
You want to switch from an interest-only deal
A lender won’t allow you to make overpayments
It is the End of your Initial Tie-in Period
Fixed rate, tracker and discount mortgages typically have a period of 2-5 years where you benefit from a lower interest rate, but once it expires most providers switch you to their standard variable rate (SVR). The problem is that the SVR tends to be much higher than the rate you were previously on, so you end up paying more each month.
You can avoid this price hike by remortgaging and switching to a better deal. It is best to start looking for a better deal around three months before your current deal comes to an end. This gives you plenty of time to find a product that suits you and arrange your remortgage.
If you don’t know when your initial tie-in period ends, you can ask us to check with your mortgage provider or you can check your original agreement as soon as possible.
There are Better Rates Available
Even if your initial tie-in period is ongoing, it is worth conducting research into the mortgage market to find better rates. However, while you could find a product which suits you, you need to consider any early repayment charges that could eat into any savings you could make by remortgaging. This is especially true if you are still within your initial deal, as these fees can often add up to as much as 1-5% on your outstanding loan. Again, you can check this on your original agreement or ask us to check with your lender for you.
After your initial tie-in period, as mentioned previously you will often put onto your provider’s SVR. Searching the market for better rates will save you money over time.
Your Property’s LTV has Reduced
Has your property’s value risen since you first took out your mortgage? Or have you repaid a significant amount of your mortgage? The increased worth of your home and repayment of your mortgage may have improved your loan-to-value ratio (LTV). This is something that can give you access to lower rates if you were to remortgage.
The LTV ratio is how much mortgage you have in relation to how much your home is worth. It is often given as a percentage, representing how much of the home you have mortgaged, with the portion you own known as equity.
For example, if your property was originally worth £100,000 and you took out a £90,000 mortgage, you would have an LTV of 90%. However, if your home increased in value to £120,000, your equity would increase with this too, giving you a new, lower LTV of 75%.
In addition, repaying your mortgage can also increase your equity, raising the share of the property you own. Using the same example, a £90,000 mortgage on a £100,000 home (90% LTV) could be reduced to 80% LTV if you repaid £10,000, as you would only owe £80,000.
Both repaying your mortgage and an increase in value can work together to lower your LTV ratio. The higher the LTV, the higher the risk to the lender. This is why it is important to have a reduced LTV, as this will gain you access to lower interest rates on your remortgage.
Remortgage to Release Equity
When you have built up equity in your home by paying your mortgage or through a major increase in property value (or a combination of both), you may want to release some of it for other purposes, this is what's called a remortgage to release equity.
There are quite a few reasons why you may want to access extra money, such as paying for retirement, home improvements, consolidating debts or even buying a new car. One of the ways you can do this is by remortgaging, where you take out a new deal to borrow more money than your current mortgage amount. This allows you access to a cash lump sum.
It should be pointed out that this is essentially a loan using your home as collateral, and you will be utilising part of your equity. This will entail borrowing and paying interest on a larger mortgage amount than you had before. Therefore it is worth checking you will be able to afford these increased repayments.
Let’s look at an example: say your home is valued at £150,000 and you have £80,000 left on your current mortgage. This means that you have £70,000 in equity. If you remortgaged for £100,000, you would ‘unlock’ £20,000 of equity and receive it as a lump sum.
Think carefully before securing debts against your property as it may be repossessed if you do not keep up with the repayments.
There has been a Rise in Interest Rates
If you have a non-fixed-rate mortgage, such as a standard variable, tracker or discount mortgage, then an increase in the Bank of England’s base interest rate can mean your mortgage payments are in line for an increase as well. This is because they use the base interest rate to calculate how much your repayments should be.
If this is the case, you may want to consider remortgaging to a fixed-rate mortgage so as to ensure you are protected. Covid-19 has seen the base interest rate lowered to 0.1% in an attempt to regulate inflation and improve costs faced by businesses and households. However, once the Bank of England sees the economy stabilise, they will most likely increase the base interest rate.the current target is 2%, although we could see an increase to other pre-pandemic rates.
You Want to Switch from an Interest-Only Deal
Although they are more difficult to secure than before the 2008 financial crash, some lenders still offer interest-only mortgages. These offer mortgages which require you to only pay the interest on your loan each month, rather than the loan repayments plus interest.
If you have taken out one of these mortgages, or have one from before the 2008 crash, you may reach a point where you want to switch over to a repayment mortgage instead. Alongside this, due to the financial effects of the Covid-19 pandemic, it is worth checking with your provider for better deals or to find out if their policy is changing with regards to interest-only deals.
Most lenders do not have a problem with customers wanting to change, and will often let you without requiring you to go through the remortgaging process. However, if you want to start making repayments and get a better deal at the same time, you will most likely have to remortgage. If you want to keep your repayments at an affordable level, it may be possible to find a new deal over a longer term which will allow for this.
A Lender won’t Allow you to make Overpayments
If you come into an increased amount of money, perhaps through a pay rise or an inheritance, you may wish to overpay on your mortgage repayments in order to make more progress. However, it might be the case that your current deal does not allow you to do this, or restricts the amount you can overpay.
By remortgaging, you can switch to another deal or provider which allows you to make larger overpayments and therefore reduce your loan amount and potentially access a lower rate for the future. However, make sure that you calculate the cost of changing, including exit fees! Then compare this to your potential savings to make sure the change is worthwhile.
How does Remortgaging Work?
Remortgaging is more than just deciding to switch deals. You need to pay off your current mortgage with the amount you are borrowing from your new mortgage, using your home as the security for the new loan. You will then commence making repayments under the new terms.
Even though you are applying for a new mortgage, the process is a lot less complex than when you first purchased your home. That being said, a remortgage is still something which needs a lot of thought and planning, as it is a huge financial decision.
How does the remortgage process work?
Can I remortgage with the same lender?
Are there fees for remortgaging?
How much can I remortgage my house for?
How does the Remortgage Process Work?
Complete an Agreement in Principle
In order to begin the remortgaging process, you need to get an Agreement in Principle (AIP). Most lenders will allow us to get you an AIP within minutes. It is a way to find out whether a lender is willing to offer you the amount you need for your mortgage without the hassle of getting a full check.
It is a way of helping you understand your options as it is important to note that getting an AIP does not guarantee you approval for your remortgage.
Consider all the Costs
The whole point of remortgaging is to leave you better off by improving your deal. Therefore, it is important to check whether the lender you plan on moving to has extra charges:
Application Fee: This is a charge to set up your new mortgage with your new provider. It is also known as a booking or arrangement fee.
Valuation Fee: This is a charge which confirms the value of your property.
Solicitor’s Fee: A solicitor will need to manage the transfer of your mortgage.
You should also keep in mind exit fees from your current mortgage provider, and should check if your new provider charges exit fees or early repayment fees. It is important to know about all the costs upfront so that you can know if you are getting the best deal.
Apply for your new Mortgage
Once you have an AIP with your new lender, and have weighed up all the costs to determine whether it is worth remortgaging, you can apply for your remortgage. Just like applying for your mortgage, in this stage you will need to provide details of your finances and personal circumstances. You will also need to provide details of your current mortgage.
Paperwork is never an enjoyable thing to have to deal with, but making sure you have all the correct documents to prove income and address etc can make the whole process smoother.
Complete your Remortgage
This is the final stage of your remortgage and it is very similar to your first mortgage. Your new lender will assess your personal and financial situation as well as carrying out a credit check. This is also when they will most likely have your property valued. It is at this point that you will need a solicitor to help you transfer your mortgage. It is possible that some lenders may offer you legal help as a free service.
Once your lender has carried out the necessary checks and your solicitor has handled the transfer of your mortgage, you can sit back and relax knowing that you have got yourself a better deal and have saved yourself money.
Can I Remortgage with the same Lender?
Yes you can remortgage with the same lender that provides your current agreement. As we have mentioned, you can also shop around to see if you can find a better deal somewhere else.
However, the main question should be: is it best to stay with the same lender? The answer to this depends on what you hope to achieve by switching from your current mortgage as the positives and negatives of this decision can have a direct impact.
Here are some of the important decisions you should take into consideration when it comes to deciding whether to stay or go:
Is it worth paying exit or early repayment fees to switch lenders?
If you are thinking about switching mortgage lenders, you should consider whether the payment of any extra fees will outweigh the savings. Some mortgage products have an early repayment fee or extra fees built in which could cost you upfront.
Is it worth paying legal fees to switch lenders?
On top of the potential exit fees, you may have to pay legal fees for a solicitor to handle the switch to the new provider. This will also eat into any potential savings you aim to make by remortgaging. Some mortgage providers offer solicitors as a free service as an incentive for their product.
Are any lenders offering incentives to bring the cost of switching down?
Sometimes lenders will offer incentives to attract people who are considering a remortgage. These are incentives such as free legal work or valuations. It is worth taking these into account as they can often balance out some of the costs outlined in previous points.
Has your credit rating fallen since you applied for your mortgage?
You should be aware that a new lender will need to carry out a credit check on your application whereas your current provider probably won’t. If you think your credit score may be worse than when you applied, you may be turned down by a new lender, which will also be recorded on your credit history.
Have you become self-employed since you applied for a mortgage?
The fact that a new provider will need to carry out a credit check can also affect you if you have become self-employed since your original application. You may be required to provide proof of your earnings in place of a salary which can require more legwork on your behalf.
If you are interested in more advice on getting a mortgage when you are self-employed, check out our handy self-employed mortgage guide.
Are you looking for more flexibility?
If part of the reason you are looking for a new mortgage is because you want to pay less or access more attractive features, it is worth remembering that staying put will limit you to your current lender’s range of products. Providers are trying to gain customers all the time, so there are often attractive deals to be had if you decide to move to a different lender. Also, if your current provider does not offer a lot of features, such as the ability to overpay on your repayments, a new provider might.
Do you have a high level of equity in your home and/or a great credit history?
Should you have either or both of these in your favour, you may be able to secure a much lower rate on a new deal. Having a great credit score or a high level of equity in your home makes you very attractive to lenders as these show that you are good with finances and reliable. By staying put, you may be limiting yourself and missing out on a better deal from another provider.
Are there Fees for Remortgaging?
In addition to the new repayments you will need to make after the remortgage process, there are some other costs to consider. These are costs such as an early repayment charge on your current mortgage, potential set-up fees for the new deal, valuation and legal fees.
As mentioned previously, it is worth taking these into account, as the total cost may outweigh any savings. If increasing savings is the goal of your remortgage then the costs may not make it worthwhile.
But what are the fees and when do you have to pay them?
Early Repayment Fee
Who is paid: Your current lender.
When is it paid: On exit of an initial tie-in period.
An early repayment fee will be payable if you decide to remortgage during an initial tie-in period, which can often span the first 2-5 years. This is designed to recoup some of the interest that your current lender will be losing out on. Iit is typically calculated as a percentage of the outstanding amount left on your mortgage.
As this percentage can amount to quite a large fee, it can be difficult to pay up front. It is usually possible to take out a larger mortgage with your new lender to cover any early repayment costs, although this could increase the LTV on your home. To avoid paying this fee, you will need to wait to remortgage until your initial tie-in period expires. Be sure to keep that date in mind when you are planning your remortgage.
Exit Fee
Who is paid: Your current lender.
When is it paid: At the end of your mortgage.
This fee covers the act of your current lender sending your title deeds to your solicitor. It is often known as the ‘deeds release fee’ or ‘admin charge’ you can pay this upfront or when you leave your current mortgage arrangement.
However, not all lenders will charge this, the exact amount should be defined in the paperwork for your mortgage if they do. Make sure you check this to verify the fee you are being charged.
Mortgage Arrangement Fee
Who is paid: Your new lender.
When is it paid: Upfront with application or added to the mortgage amount.
This is the fee that your new lender will charge you for taking out a new mortgage with them. They are an aspect of every mortgage agreement.
You will often find that the size of the fee correlates to the interest rate of the deal. High fees are paired with low rates and low fees are paired with high rates. Which one suits you best usually depends on the size of the loan you are taking out as a larger loan can be less costly with a lower rate in the long run.
You will be presented with the choice of paying this upfront or adding it to your loan.
Booking Fee
Who is paid: Your new lender.
When is it paid: Upfront on application for a mortgage.
This fee applies to fixed-rate, tracker and discount mortgages only. It is charged to secure your deal when you apply.
Valuation Fee
Who is paid: Your new lender.
When is it paid: Upfront on application for a mortgage.
Your new lender needs to conduct a comprehensive valuation of your property. This is so that they know what it is worth for their records and for assessing your application. This is a fee that you may have to pay, although as mentioned previously, the vast majority of lenders now provide a valuation service as part of the packages they offer.
Conveyancing Fee
Who is paid: Your solicitor.
When is it paid: During application for a mortgage.
In order to remove your current lender’s interest from your home and register it to your new lender, a solicitor must carry out the legal work. Like the valuation fee, many lenders now offer this service for free, so there is a good chance you will not need to pay anything towards it.
How much can I Remortgage my House for?
If you decide to remortgage, how much you are able to borrow will depend on your personal circumstances, as well as factors relating to your property.
As a general rule, most lenders tend not to offer over 95% LTV remortgages. However, there are some specialist products and lenders on the market which might.
Much like when you first applied for a mortgage, a lender will want to know that you will be able to make the repayments on your new deal. They will not lend to someone who is applying for a deal that they can not afford. You will need to provide information about your income as well as any partner’s income who you may be remortgaging with.
Your house’s value and how much you have paid towards your mortgage (used to calculate LTV) will also affect how much a bank is willing to lend you.
One way to increase the amount you can remortgage for, is to increase your house’s value. This can often be achieved by carrying out basic home improvements that do not cost the earth. Getting your house valued once these improvements have been carried out should increase the value. However, bear in mind that mortgage providers verify your home valuation, so any price you claim your house to be worth needs to be realistic to support your application.
Fill out our mortgage calculator to see how much you could borrow.
When can I Remortgage?
Choosing the right time to remortgage is a very important decision as your mortgage is one of your biggest and most important financial commitments. Therefore, you should carefully consider when the right moment for you is.
You can usually remortgage at any time, however, if you have been in your home for less than six months, you will probably have trouble negotiating a new deal with your current provider or a new lender. Although this can depend on what their policy dictates.
For many people, the earliest time to remortgage is when their initial tie-in period is coming to an end. This is in the first 2-5 years of their policy and a switch to a standard rate is looming. Getting a better deal in this situation can often save a lot of money in the years to come.
At the same time, you might wish to release equity in your home for your own use, and so decide the time is right to remortgage. Funds for retirement and home improvements are two common reasons for accessing the equity in your home. These are just two examples of how timing your remortgage can be key as a welcome cash lump sum can ease the burden on your other finances.
Whatever the reasons for remortgaging, it is important that you don’t take the decision lightly. The process can have a positive effect on your life if timed right. But it can also cause issues if you do it at the wrong time. For example, if you chose to remortgage ahead of a period of uncertainty for your personal finances, you would need to make sure that you would be able to afford the repayments.
How long does it take to remortgage?
How many times can you remortgage?
How do you qualify for a remortgage?
How Long Does it Take to Remortgage?
The length of time it can take to remortgage can differ depending on whether you are staying with your current lender or switching to a new one. Switching products with the same company is simpler and only takes up to a month, as they don’t need to check your credit history and will have all of your information on file.
A new lender will need to carry out a credit check, assess your application for scratch and carry out all the legal work to get you registered to their product. This process can take anywhere up to two months.
With this in mind, we recommend that you allow plenty of time for research and comparison. If you have a particular date in mind that you’d like to be remortgaged by, it is best to start the process around three months in advance.
How Many Times can you Remortgage?
There isn’t a set limit to how many times you can remortgage. If you are not locked into an agreement with excessive fees for switching, it can be beneficial to review your mortgage on an annual basis to make sure that you are getting the very best deal for your finances.
New products are added to the market regularly, so it is worth keeping an eye out for one that could potentially save you money.
It can be very helpful to set a date in your diary or calendar to remind you when you should review your current mortgage. As we have mentioned, it is best to start looking around three months in advance.
How do you Qualify for a Remortgage?
Remortgaging is not as simple as finding a better deal with your current lender or a new one. Just like a mortgage, you need to qualify for a remortgage. Lenders take several factors into consideration when determining the risks associated with a remortgage applicant.
Your income is one of the most important factors lenders take into account when determining whether you qualify. This will be compared to how much you owe on your mortgage, with 38% and lower being the average for most remortgages. However, some lenders will accept a higher percentage. In order to qualify for a remortgage, you may want to consider reducing your debts if your debt to income ratio is high.
Another important factor is your LTV. Most lenders tend to seek applicants with less than 80% LTV in order to qualify for a remortgage, however, there are some lenders that make exceptions. See our LTV section earlier on in this article for more information on LTVs.
Finally, an important factor is your credit score. In order to qualify for an attractive remortgage deal, you will need to have a good credit score. Lenders will offer products to applicants with less than perfect credit scores, but more often than not these will be accompanied by higher interest rates.
Lenders will look at all of these factors as well as your personal circumstances when deciding whether an applicant qualifies for a remortgage.
How to Get Ready to Remortgage
Now that you are familiar with what remortgaging is and how it works, you can start to think about getting your own application started. However, there are a few things that you still need to do and think about in order to get the right deal for you and your home.
In this section, we will look at some of the considerations you need to make before and during the application process. Read on to find out how to kick start your remortgage.
Find out what your current lender can offer you
Know your property’s current value before you apply
Speak to your provider to find out how much you owe
Know your property’s LTV before you apply
Think about applying early to guarantee a good rate
Explore your options, but don’t overdo it
Prepare in advance if you’re self-employed
Check your Credit Score
One of the ways in which a mortgage provider will judge any application for a remortgage is on your credit history. Therefore, if your score has suffered since you were last accepted for a mortgage, there is a chance that you will be turned down. What’s more, a rejected application will be recorded on your file and can count against future applications.
Therefore, it is best to get hold of your credit report in advance to see how you are doing. If your score is lower than you thought, it might be worth holding off on your remortgage until you have improved it.
You should be able to see what counts against you on your credit report and this information can help you address any issues. It is best to access your credit report through either Experian or Equifax, the UK’s biggest agencies, as mortgage providers are likely to use one of these. This way you can see the exact information they will be judging your application by.
Find out what your Current Lender can Offer You
Before you start looking around the market for better offers, it is worth looking into what your current lender can offer you. It is good to see what type of deal you could switch to with a current provider, as you can use this as a benchmark when you are deciding whether it is worth switching.
Know your Property’s Current Value Before you Apply
In order to properly start your search for a remortgage product, you will need to find out roughly what your property is worth. All providers will carry out a valuation on your property, but you will need to have a figure in mind for your initial financial management research. Plus, having a rough idea at hand can give you an idea whether a lender’s valuation is too high or too low when you apply.
The easiest way to get an idea of how much your home is worth is by using an estimate tool. You can also use the government’s UK House Price Index to find out current and historical average property prices in your area.
Speak to your Provider to Find Out How Much you Owe
If you are thinking about applying for a remortgage with a new lender, you will need to find out exactly how much you owe on your current mortgage so you don’t under or overestimate your new application. This will allow you to work out your property’s LTV as well.
The best way to find out how much you owe, is to speak to your current provider and ask them how much you will need to pay to clear your mortgage on your intended switch date.
Know your Property’s LTV Before you Apply
Once you have your property’s approximate value and you know how much you have remaining on your mortgage, you can work out the LTV. This will determine what kind of rates you will be able to apply for.
Using the earlier example:
If your property was originally worth £100,000 and you took out a £90,000 mortgage, you would have an LTV of 90%. However, if your home increased in value to £120,000, your equity would increase with this too, giving you a new, lower LTV of 75%.
In addition, repaying your mortgage can also increase your equity, raising the share of the property you own. Using the same example, a £90,000 mortgage on a £100,000 home (90% LTV) could be reduced to 80% LTV if you repaid £10,000, as you would only owe £80,000.
With your LTV figure, you will then be able to research deals on the market knowing the kinds of rates you will be eligible for. Generally speaking, the lower your LTV, the lower your rates will be.
Think about Applying Early to Guarantee a Good Rate
If you are planning ahead and see a deal with an attractive rate, you may be able to apply early and secure it. This will make sure that you don’t miss out. Some lenders allow borrowers to agree to a remortgage deal up to six months in advance. This can be particularly useful if you are locked into an initial tie-in period and know what date you can switch over.
Explore your Options, But don’t Overdo it
As we have just mentioned, you can often apply and reserve a good mortgage deal in advance. However, if you do apply early, that doesn’t mean you should stop looking at your options. If you find a superior rate elsewhere, don’t be afraid to drop your early application and move to a different lender.
If you adopt this approach, you do need to bear in mind that any upfront fees you have paid to start an early application will not be refunded if you decide to drop out. Not all lenders charge these, but if they do, you will need to weigh up whether it is worth it to drop out.
You should also make sure that you don’t apply to too many providers in a short space of time, as they will each carry out a credit check that will be recorded on your history.
Playing the field can be hard work and time-consuming, but often pays off with a better deal. The easiest way to find the best remortgage deal is to get a mortgage broker to do the hard work for you. At The Mortgage Genie, our team of remortgaging experts will dedicate themselves to doing the difficult negotiations, as well as supporting your application from start to finish.
Get your Paperwork Together
You may recall that when you first applied for your mortgage, your lender wanted to see a lot of paperwork to process your application. Unfortunately, the same is true for a remortgage, so you will need to spend some time getting everything you need together beforehand.
You will need:
- Last three months’ bank statements
- Last three months’ pay slips
- Any proof of bonuses or commission
- Latest P60 tax form
- ID (usually a passport is required)
- A proof of address (credit card or utility bills)
Remember that mortgage providers will want to see original copies of paperwork, so if you have paperless banking or billing set up, you will need to source them. However, some lenders may accept digital copies, this is something you should check with your current or new lender.
Prepare in Advance if you are Self-Employed
If you are self-employed, there is a good chance you have experienced the extra complications that a credit application can entail. Lenders can be fussier if you need to prove your income and usually request extra evidence to back up your application.
It is worth getting the evidence organised before you start applying, so as to avoid any last-minute rushing around. Preferably, you will need to show 2-3 years of business accounts signed off by an accountant, or failing that, 2-3 years of tax returns. You will also need the paperwork discussed in the last point.
How Much you could Save by Remortgaging
Remortgaging can be a highly beneficial financial move to make. You can save money on interest rates by getting a better deal and you can release equity in your home in order to receive a cash lump sum. The savings you can make from remortgaging can be a large amount. If you want to know how much you could save, check out our calculator.
In the case that you’re a landlord and wish to remortgage you should know specifically how Buy to Let Remortgages work. These are different from standard residential remortgages in that the latter is intended for property owners who live in that property, whereas a buy-to-let remortgage is for a property that is let out.
Consider a Mortgage Broker
It can be difficult to tackle finding a remortgage on your own. Whether you are too busy to research, you find the mortgage market overwhelming, or finances are not your strong point, it is important to know that there is help out there.
A mortgage broker can provide you with tailored financial advice, as well as helping you get your application in order. Not only that, but mortgage brokers have a deep knowledge and experience of the mortgage market, and might be able to arrange deals not available to other consumers.
It is always best to seek financial advice before making such a big commitment. Here at The Mortgage Genie, we can help you identify when it is the best time for you to remortgage. Our remortgage advice team can talk you through the process, taking into account your personal circumstances and goals. Then our team will help you get the ball rolling the moment the time comes for you to remortgage. We can make the whole process as simple as possible, managing each part of your application and liaising with your chosen provider. We’ve helped many people get a better deal on their home, and we’d like to help you too.
Just fill out our no-hassle form to get personalised advice and quotes.
We hope that this guide has helped you understand what a remortgage is and how it works as well as how to go about applying for one. If you have any questions about your own remortgage or anything covered here, feel free to give us a call on 033 33 44 33 72 or get in touch with us on our live chat.
This information is a guide only and should not be relied on as a recommendation or advice that any particular mortgage is suitable for you. All mortgages are subject to the applicant(s) meeting the eligibility criteria of the specific lender. You should make an appointment to receive mortgage advice which will based on your needs and circumstances.