Remortgage Advice

Fee Free Mortgage Advice with online appointments

How to get remortgage advice

The best way to get remortgage advice is to speak to an MDFS qualified mortgage advisor. A mortgage advisor can help you understand the different types of mortgages available, compare rates and fees, and find the best deal for your individual circumstances.

Here are some tips for getting the best remortgage advice:

Shop around and compare rates from different lenders
Consider your individual circumstances, such as your income, outgoings, and credit score
Make sure you understand all the terms and conditions of the mortgage, including the interest rate, fees, and repayment terms
Don’t be afraid to ask questions

Here are some of the benefits of getting remortgage advice from a qualified advisor:

They can help you save money on your mortgage
They can help you find the right type of mortgage for your needs
They can help you understand the terms and conditions of your mortgage
They can help you avoid any potential pitfalls

If you’re thinking about remortgaging, it’s a good idea to speak to a qualified mortgage advisor. They can help you make the best decision for your financial future.

Here are some of the things to consider when choosing a mortgage advisor:

Make sure they are qualified and regulated by the Financial Conduct Authority (FCA)
Ask them about their experience and expertise in remortgaging
Get a few quotes from different advisors before making a decision

It’s important to remember that you don’t have to use a mortgage advisor. You can do all the research yourself and apply for a mortgage directly with a lender. However, using a mortgage advisor can save you time and hassle, and they can help you make sure you get the best deal.

Top questons asked by people remortgaging

Why would I need a remortgage?

There are many reasons why you might need to remortgage. Some of the most common reasons include:

To get a better interest rate. Interest rates can fluctuate over time, so it’s possible that you could get a better deal on your mortgage by remortgaging
To reduce your monthly payments. If your income has decreased or your expenses have increased, you may be able to reduce your monthly mortgage payments by remortgaging
To access equity in your home. If you need to raise money for something like home improvements or debt consolidation, you may be able to do so by remortgaging and releasing equity from your home
To change the terms of your mortgage. If you’re unhappy with the terms of your current mortgage, you may be able to change them by remortgaging. For example, you might want to switch to a shorter term or a different type of mortgage
To get a new mortgage lender. If you’re unhappy with your current mortgage lender, you may be able to switch to a new one by remortgaging

It’s important to note that remortgaging can be a complex process, so it’s important to do your research and understand all the options available to you before you make a decision. You should also speak to a qualified mortgage advisor to get personalized advice on your specific situation.

What fees are paid with a remortgage?

There are a number of fees that you may have to pay when you remortgage. These fees can vary depending on the lender and the type of mortgage you choose. Some of the most common fees include:

Arrangement fee: This is a fee that the lender charges for processing your application. The amount of the fee will vary depending on the lender and the size of your mortgage
Early repayment charge: This is a fee that you may have to pay if you pay off your mortgage early. The amount of the fee will vary depending on the lender and the terms of your mortgage
Valuation fee: This is a fee that you may have to pay for a surveyor to value your property. The amount of the fee will vary depending on the lender and the value of your property
Conveyancing fee: This is a fee that you pay to a solicitor to transfer the ownership of your property to the new lender. The amount of the fee will vary depending on the solicitor and the value of your property
Broker fee: This is a fee that you may have to pay if you use a mortgage broker to help you remortgage. The amount of the fee will vary depending on the broker and the size of your mortgage

It’s important to factor in the cost of these fees when you’re considering remortgaging. You should also make sure that you understand all the terms and conditions of your new mortgage before you sign on the dotted line.

How long does a remortgage take to complete?

The time it takes to remortgage can vary depending on a number of factors, including the lender, the type of mortgage, and the complexity of your application. However, in general, the process can take anywhere from four to eight weeks.

Here is a general overview of the remortgage process:

Start the process early. The earlier you start the process, the more time you will have to shop around for the best deal and get all of your paperwork in order
Compare rates and fees from different lenders. There are a number of factors to consider when comparing mortgages, such as the interest rate, fees, and repayment terms
Submit your application. Once you have chosen a lender, you will need to submit your application. This will involve providing the lender with a number of documents, such as your income and employment history, and a valuation of your property
Wait for your application to be processed.This can take a few weeks.
Sign the paperwork and complete the conveyancing. Once your application has been approved, you will need to sign the paperwork and complete the conveyancing. This is the process of transferring the ownership of your property to the new lender
Complete your remortgage. Once the conveyancing is complete, you will have completed your remortgage

It is important to note that the remortgage process can be complex, so it is a good idea to speak to a qualified mortgage advisor if you have any questions.

Can I remortgage if I have bad credit?

Yes, you can remortgage with bad credit. However, it will be more difficult and you may have to pay higher interest rates. There are a number of lenders who specialize in mortgages for people with bad credit, so it is worth shopping around for the best deal.

Here are some tips for remortgaging with bad credit:

Start the process early. The earlier you start, the more time you will have to improve your credit score and find a lender who will approve your application
Be prepared to provide documentation. Lenders will want to see proof of your income, employment, and assets
Be honest about your financial situation. Don’t try to hide any negative information from the lender
Be patient. The remortgage process can take longer for people with bad credit.

If you have bad credit, it is important to remember that you are not alone. There are many people who have successfully remortgaged with bad credit. With a little planning and effort, you can too.

Should I remortgage if my mortgage has early redemption charges?

Whether or not you should remortgage if your mortgage has early redemption charges depends on a number of factors, including the size of the early repayment charge, the interest rate on your current mortgage, and the interest rate on the new mortgage.

If the early repayment charge is relatively small, it may be worth remortgaging if you can get a significant saving on your interest rate. However, if the early repayment charge is large, it may not be worth remortgaging unless you can get a very large saving on your interest rate.

It is also important to consider the length of time you have left on your current mortgage. If you are close to the end of your mortgage term, it may not be worth remortgaging now, as you will only have to pay the early repayment charge for a short period of time.

Ultimately, the decision of whether or not to remortgage if your mortgage has early redemption charges is a personal one. You should weigh up the costs and benefits of remortgaging and make a decision that is right for you.

Here are some things to consider when making your decision:

The size of the early repayment charge
The interest rate on your current mortgage
The interest rate on the new mortgage
The length of time you have left on your current mortgage term
Your financial situation
Your risk tolerance

If you are unsure whether or not to remortgage, you should speak to a qualified mortgage advisor. They can help you understand your options and make the best decision for your financial future.