Can I remortgage on a Buy-to-Let property?
Absolutely. Many landlords remortgage to access equity, secure better rates, or expand their portfolios.
Can I remortgage if my home has gone down in value?
Yes, but your loan-to-value (LTV) may be higher, meaning fewer deals and potentially higher rates. An adviser can help you explore the best options.
When is the best time to remortgage?
The best time is usually 3-6 months before your current fixed term ends. This allows enough time to secure a new deal, and avoid higher payments when moving onto your lenders Standard Variable Rate (SVR).
How much does it cost to remortgage?
It depends on your situation, but common costs include arrangement fees, legal fees, valuation fees, and sometimes Early Repayment Charges (ERCs). Our advisers can assist in calculating your likely costs vs. the potential savings.
Why should you speak to a mortgage adviser or broker about remortgaging?
A broker compares deals across the whole market, not just one lender. That means you get expert guidance, access to more products, and help with the paperwork. If your best option is with your current lender, we can often help arrange that for you too. You may be contacted directly by your existing lender to […]
How long does the remortgage process take?
A remortgage with a new lender is like making a new application, so it can take 4-8 weeks, depending on the lender. Staying with your existing lender (a product transfer) is usually faster.
How early can you remortgage?
Most lenders allow you to start the process around six months before your current deal ends. That way, you can lock in a new rate early. If rates drop before you switch, you often still have the option to move to a better deal before you current rate expires.
What are the benefits of remortgaging?
Potentially lower monthly payments. Access to more products if your property has risen in value. The chance to release equity, extend or shorten your term, or restructure your loan.
What does remortgaging mean?
Remortgaging is switching from your current mortgage to a new deal, either with your existing lender or a new one. Many people do this when their fixed-rate period ends to avoid moving onto the lender’s standard variable rate (SVR).