Re-mortgaging - simply moving your mortgage

Why re-mortgage?

Moving your mortgage to another lender could be a way of reducing your monthly mortgage payments or borrowing extra to do the things you want. We aim to make the process as easy as possible. Re-mortgaging accounted for only 28% of all home lending five years ago, but now it accounts for around 46%, according to the Council of Mortgage Lenders.

If your existing loan and credit commitments are beginning to weigh you down, a debt consolidation re-mortgage may be the solution. Whatever your situation, we could make a real difference.

If you would like to talk to a consultant about the benefits of switching, please call us free between 10am and 7pm on 0800 298 5136. Alternatively, use the call me feature and we will contact you at a convenient time. If it's just a quick quote you're after, we will be pleased to help.

How much will it cost?

Potentially, it could cost you nothing apart from a small amount of your time. Lenders are still offering deals with no arrangement fees, free valuation and legal costs. Such deals could make a slightly higher mortgage interest rate more cost effective than a deal with a lower interest rate that has associated costs. That said, the larger the loan, the less important any associated charges become because they represent a smaller amount of the loan size.

How long will it take?

Once you have chosen a suitable mortgage product, we set to work behind the scenes. The whole process to completion may take up to a couple of months but this can be reduced substantially if you provide us with the required supporting documentation promptly to avoid unnecessary delay.
Once you have completed your new mortgage, make a diary note to contact us so that we can review a new deal two to three months before the product ends so you can implement a seamless switch next time round.

Is it worth it?

A typical homeowner with a £130,000 mortgage could save almost £2,000 a year, simply by moving their mortgage.
To help you work out whether it's worth switching, you need to have the following information to hand:

• your current monthly mortgage payment
• your Mortgage Offer to establish any costs of switching from your existing lender