Expert & Professional Remortgage Advice

There may be opportunities for you to save money by remortgaging. Just be aware that sometimes, the lender will ask you to pay an early repayment charge before you can switch. It’s important to weigh up the price of the early repayment charge against the costs you’ll be saving with the lower interest rate.

A mortgage adviser will be able to help you decide whether it’s the right time to remortgage for your unique needs. Get in touch and one of our advisers can walk you through the process.

If your mortgage is ending in the next six months, make an appointment with one of our advisers based in The Property Centre branches, who can help you find a deal that works for you. If mortgage rates drop during these six months, they’ll let you know.

If you took out a fixed rate mortgage where you pay the same amount every month and the interest rate remains the same, once the initial term has ended, you’ll fall onto an standard variable rate (SVR), where you could end up paying a higher interest rate than you were previously.

Make sure you’re aware of when your deal ends. By starting the remortgage process a few months before it ends, it ensures you don’t end up paying more than you need to.

Perhaps you’re on an interest-only mortgage and want to move to a repayment mortgage. Your lender may need to check your affordability again to ensure you can meet the monthly repayments as well as the interest. It could be as simple as changing without the need to remortgage, but if they can’t offer you the deal you want, then you might consider a full remortgage.

If you’re looking to make home improvements, whether to improve your home for your own benefit or market appeal, the costs of improvements can quickly add up. 

You could consider remortgaging if you have enough equity in your home to cover the costs of the renovations.  Do your research and consider whether paying the early repayment charge is better than taking out a separate loan. 

The lender will likely want to know what you intend to use the money for and may ask to see builder’s quotes as evidence.