Remortgaging
Remortgaging involves replacing your current mortgage with a new one, either with your existing lender or a new provider.
Remortgaging can be beneficial for lowering your monthly payments, raising funds for home improvements, or consolidating debts. At Oundle and Stamford Mortgages, we’ll help you determine if remortgaging is the right step for your financial goals.
How to know if you should remortgage
Time to consider remortgaging?
Here are some signs it might be time to consider it:
Your fixed-term is ending:
Avoid moving onto your lender’s standard variable rate by securing a better deal.
You want lower payments:
Take advantage of lower interest rates to reduce your monthly costs.
You need to raise funds:
Use your property’s equity for home improvements, a new purchase, or consolidating debts.
Your personal circumstances have changed:
Adjust your mortgage to better suit your current financial situation.
Step-by-Step Process
We’ll guide you through a clear, step-by-step process to make your remortgage simple and stress-free:
1. Initial Consultation:
We’ll discuss your current mortgage and any changes you may want to make.
2. Finalise and Apply:
Choose your new mortgage product and submit the application.
3. Mortgage Offer Issued:
Once the lender has approved your application, your Mortgage Offer will be issued.
4. Legals:
If you’re remortgaging to a new lender, solicitors will need to be instructed. You can use your own, or the lender may offer a free legal option.
5. Completion:
Your new product will start, and your remortgage is complete!
Explore our Mortgage Jargon Buster for more details on these options.
Expert Advice
Remortgaging can save you money, but it’s important to understand any potential penalties or fees involved, such as early repayment charges. Our team will guide you through the process, ensuring you secure the best deal while avoiding unnecessary costs.
Self-Employed Success Story
Remortgaging can be especially valuable for self-employed individuals, helping to secure better rates or adjust to changing financial needs. Here’s what one of our clients had to say:
Kerry Bywater
I cannot recommend Emma and her team any higher. Being self-employed makes anything to do with mortgages difficult! In the run-up to my remortgage, Emma has been a huge support and always on hand with the most helpful and up-to-date advice. After dreading how difficult this process would be, I now feel confident and at ease knowing I have Emma guiding me through the process. I trust her implicitly!
Your home may be repossessed if you do not keep up repayments on your mortgage.
faq
Remortgaging
Yes, there may be fees such as valuation costs, legal fees, and early repayment charges. We’ll explain these upfront to ensure you’re fully informed.
Absolutely. We’ll help you compare offers from multiple lenders to find the best deal.
Yes, this is a common reason to remortgage. We’ll assess whether this option is suitable for your situation.
Ready to explore your remortgaging options? Contact us today for expert advice tailored to your needs.
Oundle and Stamford Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. You can find Stonebridge Mortgage Solutions Ltd on the FCA register by clicking here. Oundle and Stamford Mortgage Services Ltd is entered on the Financial Services Register under firm reference number 842633. Registered Office: Oundle and Stamford Mortgage Services Ltd., 2a New Street, Oundle, PE8 4EA. Registered Company Number: 11811100. Registered in England and Wales.
Please note: Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage. As with all insurance policies, conditions and exclusions will apply. Not all Buy to Let Mortgages are regulated by The Financial Conduct Authority.