A remortgage is when you decide to review your existing mortgage arrangements. There are many reasons for doing this, from raising money for home improvements to re-arranging other existing financial commitments, but by understanding your specific objectives and requirements we can source the best deals suited to these.
Most lenders have specified products for remortgages that will often include their offering a free property valuation and paying your legal fees. If you do not review your mortgage on a regular basis then you will typically revert to your Lender’s Standard Variable Rate (SVR), after any promotional period you were benefiting from has come to an end. This Standard Variable Rate could be higher than the remortgage rates that might be available at that time, if you were to move to another mortgage lender, hence the need to review the options open to you prior to your current arrangements coming to an end. All remortgages are subject to underwriting by the selected lender at the time of your application and take into account your financial position at that time.
When we meet with clients that are looking to remortgage, we will always assess the rates and products that are available in the market generally against those that they are currently on or available through their existing mortgage provider. This gives you the peace of mind of knowing that we are not encouraging you to change products or lenders just for “the sake of it” as staying with an existing lender could still be the best or most appropriate option for you.