
REMORTGAGE
Remortgages made simple
Thinking about remortgaging but not sure where to start?
Over time, your financial needs and goals can shift, and I’m here to help you find the right remortgage deal that aligns with your current circumstances.
Whether your existing mortgage deal is coming to an end, your fixed rate period is over, or you’ve been moved onto a standard variable rate (SVR), the remortgaging process doesn’t have to be overwhelming. My goal is to make your remortgage journey simple, stress-free, and tailored to your unique financial circumstances. Whether you’re looking to save money, release equity for home improvements, consolidate debt, or switch to a better mortgage deal, I’ll guide you every step of the way.
What is Remortgaging and Why Change Your Current Mortgage Deal?
Remortgaging involves replacing your existing mortgage with a new deal, either with the same lender or a new lender. Homeowners remortgage for various reasons, such as:
*Lower Interest Rates: Reduce your monthly payments and save money over the life of your mortgage.
*Release Equity: Access funds for things such as home improvements.
*Avoid Higher Costs: Switch before your current mortgage deal ends to avoid rate increases.
*Flexible Options: Move to a mortgage type that better suits your needs, such as a fixed rate or tracker rate.
*Debt Consolidation: Combine multiple debts into a single, manageable monthly payment.
Why choose me as your mortgage adviser?
There are many benefits to working with a remortgage broker. Remortgaging can feel complex, but with my expertise and a personal, friendly approach, I’ll provide you with the knowledge and support you need to feel informed and empowered.
Here’s how I can help:
The Remortgaging Process Simplified:
I break the remortgaging process into clear, easy steps. From reviewing your current mortgage to finalising your new deal, I’ll handle all the details creating a stress free process.
*Expert Knowledge: I have experience navigating the mortgage market, specialising in remortgage deals for all types of borrowers, including those who are self-employed and have adverse credit.
*Bespoke advice: Every recommendation is tailored to your financial goals and circumstances.
*Access to re-mortgage deals: I’ll help you compare deals from a range of lenders to find the best remortgage deal for your needs.
Assess Your Financial Health:
Before you the re-mortgage process, it’s essential to understand your finances. I’ll help you:
*Check Your Credit Score: Before applying for a remortgage, I’ll check your credit report, a strong credit score can help you access better mortgage deals. I’ll guide you on where to check and how to improve your score, if needed.
*Consider Your Financial Situation: I’ll take a close look at your income, expenses, and debt obligations. Understanding your financial situation ensures you choose a deal that aligns with your budget and goals.
*Reduce Outstanding Debt: I will help you to understand if paying off loans or credit card balances can improve your borrowing power.
Review Your Existing Deal:
Before remortgaging, it’s essential to evaluate your current situation. Here’s how I’ll help:
*I’ll assess your current mortgage balance, interest rates, and potential savings if you switch.
*Find mortgage options tailored to your unique situation.
*Understand the mortgage loan amount you are able to borrow, helping you make an informed decision.
Compare Remortgage Deals:
Finding the best remortgage deal requires careful consideration of your financial circumstances and goals as well as other associated costs. I will research and compare different remortgage deals from various lenders, look for the best interest rates and terms that suit your financial situation. Remember, the right remortgage deal can save you a significant amount of money over time.
Consider a Product Transfer as an Alternative to Remortgaging
When reviewing your remortgage options, it’s important to consider whether a product transfer might be a better fit for your needs. A product transfer involves staying with your current lender and switching to a new mortgage deal, rather than remortgaging with a different lender. I’ll help you assess whether a product transfer could be the right choice by:
*Comparing Costs: Product transfers often have lower costs as they typically don’t involve legal fees, valuation fees, or early repayment charges. I’ll help you weigh these savings against potential benefits of remortgaging.
*Evaluating Speed and Simplicity: Product transfers can be quicker and simpler than remortgaging, as there’s no need to switch lenders or complete extensive paperwork.
*Reviewing the Deal: While staying with your current lender may be convenient, I’ll ensure the product transfer offers competitive rates and aligns with your financial goals.
If a product transfer turns out to be the best option for you, I’ll guide you through the process to ensure everything is handled smoothly and efficiently. For more information about product transfers and how they work, visit my product transfer for a detailed guide and further assistance.
Choosing Between Free Legals or a Solicitor: Finding the Best Option for You
When remortgaging, one important decision is whether to use the free legal services often provided by the lender or to hire your own solicitor. Both options have their pros and cons, and I’m here to help you make the right choice based on your circumstances.
*Free Legals Provided by the Lender: Many lenders offer free legal services as part of their remortgage deals, which can save you money upfront. However, these services are often more basic and may not cover additional requirements, such as handling complex property issues or transferring equity. I’ll help you assess if the free option is sufficient for your needs.
*Instructing Your Own Solicitor: If your remortgage involves additional complexities—such as releasing equity, managing joint ownership, or changing property deeds—choosing your own solicitor might be the better option. While this may involve additional costs, it often provides a more personalised and efficient service.
I’ll carefully review your remortgage requirements and compare the benefits of each option to ensure you choose the one that offers the best value and service. Whether you go with free legals or hire your own solicitor, I’ll work closely with them to ensure the process is smooth, compliant, and stress-free.
Securing an Agreement in Principle (AIP) for Remortgaging:
An Agreement in Principle (AIP), also known as a Decision in Principle (DIP), is a statement from a lender indicating how much they’re willing to lend based on your financial circumstances. While not mandatory for remortgaging, having an AIP can provide peace of mind and make the process smoother. For remortgaging, an AIP can:
*Confirm Your Eligibility: It helps you understand how much you could borrow based on your income, expenses, and credit score.
*Simplify the Application Process: An AIP streamlines the next steps, as much of your financial information is already reviewed by the lender.
*Provide Clarity: It gives you a clear idea of your borrowing limits, helping you plan whether to release equity or reduce monthly payments.
I can guide you through securing an AIP quickly and easily, ensuring you’re in the best position to proceed with your remortgage application.
Plan for Additional Costs:
Remortgaging can be a great way to save money, but it’s important to be prepared for any additional costs that might arise during the process. These costs can vary depending on your lender, mortgage type, and personal circumstances. I’ll help you understand and plan for these expenses to ensure there are no surprises along the way. Here are some common additional costs to consider:
*Early Repayment Charges: If you’re leaving your current mortgage deal before it ends, you may need to pay an early repayment charge. I’ll help you weigh this cost against the potential savings of switching deals.
*Valuation Fees: Some lenders require a property valuation, especially if you’re switching lenders or releasing equity. While many remortgage deals include a free valuation, I’ll confirm if this applies in your case.
Legal Fees: Legal work is required when remortgaging, particularly if you’re switching lenders. Some deals include free legal services, but if not, I’ll help you find a cost-effective solicitor.
*Arrangement Fees: Some lenders charge a product or arrangement fee for new deals. I’ll help you evaluate whether the fee is worth it based on the savings the new mortgage offers.
*Admin Fees: Some lenders charge small fees for processing your remortgage, such as exit fees from your existing lender or completion fees on your new mortgage.
By working together, I’ll help you identify all potential costs upfront and create a clear plan to manage them. My goal is to ensure you fully understand the financial aspects of remortgaging, so you can confidently choose the best deal without unexpected expenses
Guide You Through Legal process and finalising Your Mortgage offer:
The legal side of remortgaging can seem daunting, but I’m here to guide you every step of the way, ensuring the process is seamless and stress-free. From liaising with solicitors to finalising your mortgage offer, I’ll make sure everything is handled efficiently and with your best interests in mind. Here’s how I’ll support you:
*Liaising with Solicitors: I’ll coordinate with your chosen solicitor or legal team to ensure all required documents are prepared, reviewed, and signed in a timely manner. Whether you’re using free legals provided by your lender or hiring your own solicitor, I’ll work closely with them to keep everything on track.
*Handling the Final Mortgage Offer: Once your lender approves your remortgage application, I’ll carefully review the final mortgage offer with you to ensure all terms are clear and meet your expectations. I’ll answer any questions you have and help you understand what’s next.
*Keeping You Updated: I’ll keep you informed at every stage of the legal process, ensuring there are no delays or surprises. My goal is to make the process smooth and transparent so you can focus on the benefits of your new mortgage deal.
Ongoing Support Beyond Your Purchase:
Even after you’ve completed, I’ll continue to provide advice and support. From home insurance and protection policies such as life insurance to managing repayments, you can count on me to assist with any questions that arise.
Start Your Remortgaging Journey Today
If your current mortgage deal is coming to an end or you’re ready to explore better options, don’t let the process feel intimidating. With my guidance, you’ll feel confident and supported every step of the way.
Contact me today for a free, no-obligation consultation and find the deal that’s right for you.