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Are you:

• Coming to the end of your current mortgage term?
• Wanting to switch to a new lender?
• Looking for a better interest rate for your current mortgage?

Then look no further.

Giving you remortgage advice and getting you the best mortgage deal possible is our fundamental goal. We won’t stop until you’ve got the best mortgage deal. No matter your current financial situation, whether you have bad credit, a change in circumstances or just looking to do some home improvements, it doesn’t matter. We make it our business to help those in need.

What is a Remortgage?

If you want to switch to a new lender, or get a different rate with your current lender, then you need to remortgage.

Remortgaging is basically the process of finding the new mortgage product that better suits your current circumstances. It is a good way to find a more favourable interest rate, change the length of your mortgage term or move to a different type of mortgage altogether.

You don’t have to wait until your current term is up either; you can review your mortgage options at any stage if repayments start to become a drain, your financial situation changes or you want to switch lenders. Though if you wish to end your current deal early, you may face early repayment charges.

Download our straight-talking legal guide to remortgaging here:

Remortgage Legal Process

When should you remortgage your home?

If the option is open to you at any stage, when is the best time to remortgage? As mentioned, ending your current deal early can result in hefty early repayment charges, so it’s not something we recommend unless absolutely necessary.

If you are on a fixed rate mortgage, as most are, this means you are tied to a particular interest rate until the end of the fixed period of time for that mortgage.

How long does it take to remortgage?

In general, you should start to look for a new mortgage three to six months before the end of your current term. This way you get a good lay of the land, as it were, when it comes to the current market and interest rates.

Using a mortgage advisor for this task greatly improves your chances of finding a better deal. We want to get you remortgaged onto a better rate, and have access to a much wider resource and raw experience to hunt down those better deals.

Also, if unfortunately, the market is unfavourable, it will give you months to prepare before moving onto the new interest rate. Like with most things in life, preparation is key.

A good way to see if now is the right time is to use our remortgage calculator. This handy tool will tell you in a few seconds how much a new mortgage will cost in monthly repayments.

Mortgage types to consider when you remortgage

There are many options to consider when remortgaging. With so many types of mortgage available, finding the right one to suit your needs is important. The options might make your head spin but by breaking these options down, you’ll find there may be options you didn’t know would fit your situation better than others.

How much will it cost to remortgage?

Remortgage fees are thankfully, pretty minimal. This is because, unlike a house move, there are few bills to pay and the work will mostly be done by us and your lenders. Most lenders offer remortgaging with no upfront valuation fees or additional application fees.

You may also be wondering: do you need a solicitor to remortgage? If you are planning to switch your mortgage lender and have a new mortgage deal, then you will need a solicitor to help with the conveyancing process.

Providers will offer you a lower rate with an added mortgage product fee, or a higher interest rate with no fee. We’ll go through the different options with you. Most of the time, even if there is a lender fee, we can add it to your mortgage to pay off over the months.

Finally, there is the broker fee, which we’ll be completely upfront about with you before you engage our services.

You can use your credit card to buy smaller things, such as fuel and food, to help build-up a better credit score. Basically, you’re showing that you can be trusted to make payments on time. Focus on paying off debts with regular payments and not going over your overdraft.

Remortgaging with bad credit

Don’t let bad credit stop you from thinking you can remortgage and also get remortgage deals that will improve your monthly repayments. Often we can secure exclusive rates from lenders that are adverse friendly, so no matter your financial situation, don’t hesitate to get in touch.

We are proud that one of our main focuses is to ensure we secure mortgages for those with bad credit. We believe the best way to reach the best outcome is through working together, providing you with support throughout your entire mortgage journey.

Affordability of remortgaging with bad credit.

There are so many reasons you may have bad credit. From having poor credit history, missing loan payments, to having county court judgements (CCJs). CCJs make it more difficult to get a mortgage but there are specialist remortgage deals available that take this into account. We provide non-stop support through the entire process and will find the most competitive rates for you even if you have a CCJ in your name.

When not to remortgage

Okay, so we want to stay positive but it wouldn’t be fair if we didn’t mention that there are some times when it won’t be advantageous to consider remortgaging. We want you to make a considered, thoughtful, informed decision before coming to us, and believe that complete transparency is vital.

Can I remortgage early?

You can remortgage before the end of your fixed term. If you have a fixed term mortgage, you will normally see a large penalty to leave your mortgage before your current terms end. We wouldn’t recommend leaving your fixed rate mortgage early unless you have a good reason to do so, such as finding a better interest rate when wanting to remortgage to release equity in your property for some extra cash.

What about the state of the current market?

As we’ve all been too aware in recent times, the economic climate can, at times, be quite volatile, with interest rates increasing to unsustainable levels. These sort of things tend to follow a pattern, with times of high interest and times that interest rates decrease.

When choosing to remortgage, it doesn’t hurt to be aware of the larger economic landscape and take into account the direction of the market as a whole. Unless you are on a fixed mortgage that is about to end, we wouldn’t recommend choosing to remortgage when interest rates are higher, as you’ll be unlikely to find a better deal than you currently have.

How to remortgage with The Mortgage Broker

A mortgage broker looks at mortgage rates a hundred times a day, we eat, sleep and breathe mortgages. A broker will find be able to secure a rate for you far quicker than you will be able to do on your own.

We get constant notification from lenders across the entire country if rates are going to change. We can even switch you onto a lower rate after the initial rate of a remortgage has been secured. If the rates happen to increase then it doesn’t matter, because we will have secured you on a lower rate initially.

The benefits of working with someone who makes it their business to know the ins and outs of the mortgage world ensures that you’ll get the absolute best rate possible, every time.

Having a broker to help demystify the mortgaging process, explaining all of the quirks and tips of the industry gives you a huge advantage when looking at how to remortgage your house, and the support we offer is unbeatable.