Remortgages Made Easy
Remortgage is a complicated process, and it can cost you a whole lot if you have reached out to the wrong remortgage broker and advisor.
Our expert remortgage brokers at Mortgage Advisors 365 make your life easier by doing the troublesome process of the applications and paperwork. All you have to do is tell Mortgage Advisors 365 your situation and let us handle the rest.
We take pride in individually providing the best services to our customers according to their requirements and conditions. We will hunt down the market to provide what is best for you and help you with remortgages.
To get the best remortgage services, reach out to Mortgage Advisors 365 right away!
Leave Remortgages on us!
Remortgaging is the process of transferring the mortgage of your existing property from one lender to another. The process seems simple, but an expert mortgage advisor will make it even easier. Our team at Mortgage Advisors 365 includes the best remortgage advisors in the UK.
One usually remortgages his property at either the near end of their mortgage deal or when they want to release equity in their homes. A detail of this release equity is provided here:
The right time to remortgage?
The process of remortgaging a property may take a few weeks to a few months. It is better to start at least 6 months before the mortgage deal with your current lender ends and as soon as a new mortgage is secured, you can transfer your mortgage after your deal expires.
Remortgage to a different lender
If you know how to port a mortgage, this process is no different. Remortgaging a property can be done at any time. However, it is best when you are certain of securing a better financial outcome. So, it is better to remortgage when:
- A few months before the end of your current mortgage.
- Interest rates are lower than when you took your existing mortgage.
- Your home has a lot of release equity built up.
- When you wish to overpay your current lender but are not allowed to.
Applying for a new mortgage and a new lender – EASY WITH US!
Before your mortgage deal ends, you may want to search the market for a chance of finding a better mortgage rate. In case you switch, you may either go for your current lender or to an entirely different bank and deal.
Choosing to stay with your current lender will save you the trouble of going through the entire application process again. Since they already know everything about you and you also trust them, extra expenses may also be saved. All you need to do is sign up for a new contract with your lender as soon as your current deal ends.
However, if an experienced broker or some other references connect you to a new deal that seems better, there is no harm in switching. You will need to go through the entire application process by putting forward your financial documents such as proof of income, tax forms, and whatnot.
Since you have already gone through the entire process once with your previous lender, it won’t be an unfamiliar procedure for you. If all goes well, your remortgaged provider will pay off your old mortgage and you will make monthly repayments to them.
Our remortgage advisors at Mortgage Advisors 365 will help you decide if you should stay with your old lender or go for a new one.
The Price of Remortgage in the UK
As you are already familiar with the basic costs of a mortgage, the new lender costs may not seem extravagant to you. These costs will include:
Mortgage Broker Fees
Some mortgage brokers will charge you a fee, while some will not. It depends on whether they are getting a commission from the lender.
Your mortgage lender is the one who decides how much the arrangement fees will be. Generally, the higher the interest rate is, the lower will be the arrangement fees. It is up to you to pay it upfront or with your mortgage.
Works carried out by your solicitor decide the legal fees. If your lender is using his or her solicitor, this cost might be waived off.
Early repayment charges
In case you leave your current mortgage product before time, your lender will charge you an early repayment fee. However, if the deal has ended and you stand at the standard variable rate (SVI) of your lender, these charges will not apply.
Valuation Fees – Use OUR Mortgage Calculator!
Your new lender will want to know the worth of your property. Use our remortgaging calculator at Mortgage Advisors 365 to find out.
Generally, the remortgage fees depend on your lender. So, choose wisely who to work with.