Changing mortgage company can be a daunting process, especially with so many different products and providers. Let us take the hassle out of the process and make sure that you get the best deal.
In addition to finding you the best deal on your remortgage we can help you to raise money for home improvements, extend your mortgage term or put a plan in place to help you pay off your mortgage early.
Find you the right mortgage product
We search the major high street lenders like HSBC, Nationwide and Santander and many more, as well as smaller specialist lenders, all to get you the best deal.
Recommend solicitors
Choose a slow or disorganised lawyer and you could loose your property, because we deal with so many property transactions each month, we know which solicitors are fast and efficient.
Coordinate your survey and related checks
Mortgage valuations, homebuyers reports and structural surveys, we can help you avoid any nasty surprises by recommending a great surveyor.
Access exclusive mortgage products
In addition to thousands of mainstream mortgage products, we have access to many exclusive products that aren't available elsewhere.
Co-ordinate the remortgage process
Once we have found you the right product, we provide advice and guidance throughout the whole process from start to finish.
Health check your existing home insurances
Let us review your mortgage related insurances to make sure that you and your family are fully protected in every eventuality.
What is a remortgage?
Remortgaging is the process of borrowing money on a new mortgage to pay off an existing mortgage with a different lender. Where the new lender is charging a lower interest rate than the existing mortgage provider, you will save money. Although in practice it is important to look at all the costs involved, as any savings might be eroded by the fees involved with changing lender.
The term remortgage is also used to describe the process of raising additional funds against a property. This capital raising may be with the exiting lender or a new lender.
When should I remortgage?
Nearly all mortgages have a headline offer that usually lasts for the first two to five years. Generally you should look to remortgage three months before the end of your current introductory mortgage rate. For example, if you have a five-year fixed rate mortgage, you should start shopping around for a new deal three months before the fixed rate ends.
In certain situations it can be advantageous to change mortgage deal within a introductory period, although early repayment fees will normally apply.
How long does it take?
Generally speaking a remortgage can be completed in four to six weeks, although timescales vary widely depending on the lender, and the borrowers individual circumstances. Applications can often be expedited by providing all the relevant information and documentation requested promptly.
You can expect to wait longer for applications that involve third parties, this is especially true when dealing with equity loan providers, housing associations and leaseholders.
You can trust our expert team to push things through in the shortest possible time-frame.
How much does it cost?
Product fee
From £0 to £2000+ it varies from product to product, it can sometimes can be added on to your overall mortgage borrowing.
Valuation fee
The mortgage provider will instruct a survey to provide a realistic valuation of the property. This is done to ensure the property is worth the asking price and the amount you wish to borrow. This is often free of charge but can cost as much as £300.
Telegraphic transfer fee
The cost of the mortgage provider to send the loan money through to your solicitor. This usually costs £25 to £50.
Solicitor / conveyancing fees
For all the legal work (obtaining local reports, liaising with the sellers’ solicitor and your mortgage company and for expediting the financial transactions) expect to pay between noting for many products and as much as £500 for others.
Costs will vary depending on the mortgage product selected, for example some products include a free valuation, some lenders will even cover the legal expenses. Our job is to find the product that works out the most competitive overall, for example a deal with a low interest rate high fees, could be more expensive overall than a product with a higher interest rate but lower fees, and visa-versa.
