Re-Mortgages

Remortgages

As your mortgage product nears its expiration, transitioning to the lender’s standard variable rate (SVR) could lead to significantly higher monthly interest payments, thereby increasing your overall mortgage expenses.

To alleviate concerns and provide ample time for consideration, we proactively reach out approximately three months before your deal concludes. This ensures you’re well-prepared to explore available options, including staying with your current lender, switching to a new deal, or considering remortgaging for potential savings on monthly payments and reduced interest costs, depending on your circumstances.

Should you desire additional funds for home improvements or debt consolidation, we can help you explore options, often offering up to 90% loan-to-value. However, it’s essential to note that securing short-term debts against your home may extend the repayment term and increase the overall amount payable. Moreover, remortgaging might incur early repayment charges from your existing lender.

Tailoring solutions to your unique circumstances, we seek out products designed specifically for you, ensuring both time and cost savings throughout the process. Our goal is to secure deals with various benefits, including complimentary legal services, free valuation, and cashback, while keeping your interest payments at a minimum.

 

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Face-to-Face Mortgage Advice

Evening Appointments Right Up Until 10pm. Weekend Appointments Available On Request

Assistance And A “Hands On” Approach Throughout The Whole Process

How does remortgaging work?

There will typically be a suitable mortgage deal available to you, and shopping around can help you find the right one. At Mr Mortgage Adviser, we are on hand to search the whole-of-market to source that most suitable mortgage for you.

We can provide advice and support to help you on your journey to decide when is the right time to remortgage, and what mortgage rates are available when you choose to do so.

There may be costs involved with remortgaging, and we can support you with understanding these. These costs could include:
Booking or completion fees charged by a new lender
Conveyancing costs
Property valuation costs
Early repayment charges (ERC) or exit fees charged by your current lender

Once you are happy with your agreement in principle,we can help you apply for your new mortgage. This will involve a hard credit check, and you will need to provide a number of supporting documents to confirm your income and other details.

How long will it take to remortgage?

Remortgaging your home typically takes 4 to 8 weeks after applying, but the amount of time you need will depend on your own individual circumstances. If you are able to provide clear, accurate, and relevant documentation when required, such as your proof of earnings, this can help to speed up the process.

After the legal work has finalised and your new mortgage is set up, you are ready for completion – which is when your new mortgage starts and your old mortgage is repaid. Your new lender will be in touch to let you know the date and amount of your first new mortgage payment.

Before securing debts against your home, it’s crucial to weigh your options carefully.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE.