What we cover in this guide
- Remortgage with The Mortgage Centres
- Read our Remortgaging Guide
- Try our Mortgage Affordability calculator
- The Benefits of Remortgaging
- When can I Remortgage?
- Should I Remortgage?
- When you shouldn’t Remortgage
- How do I Remortgage?
- Can I get a 95% Remortgage??
- Costs of Remortgaging
- Remortgage interest rates
- Product Transfers
Remortgage with The Mortgage Centres
As specialist mortgage brokers, we have many years of experience in helping people to remortgage properties for a wide variety of reasons. We have access to the whole market to find you the best remortgage deal, and with over 11,000 mortgages from over 90 lenders to choose from – including exclusive deals you won’t find on the high street – we’ll find exactly the right product for your needs.
One of our specialist mortgage brokers will take a good look at your situation to first establish that remortgaging is the best financial option for you, before running through the whole process and giving you the best advice to suit your individual circumstances and requirements.
When you shouldn't Remortgage
When you look at all the circumstances around your current mortgage deal, you may conclude that now is not the right time to remortgage, or that it may simply not be financially viable. Typically, you will be tied into a mortgage for a set time period of between 2 and 5 years, during which time you will be obliged to pay early repayment charges if you choose to move to another lender. This sum could amount to several thousand pounds.
You might also want to reconsider remortgaging if the size of your loan is not large enough to result in a financial benefit by switching. Sometimes the new lender’s arrangement fees and other set-up costs will outweigh the savings made in interest payments by switching products, and a new mortgage could cost you more in the long run.
Fee free Remortgages
An important factor to consider when looking at a remortgage is the number of products on the market that are offered completely free of fees. With these deals, you will not have to pay any arrangement fees, and the lender will cover the costs for valuation and legal work. You may also find some products offering a small amount of cash back to cover any admin charges from your current lender for closing down your existing mortgage.
However, it’s worth remembering that a fees-free package might not always be the best product for you in the long term. Talk to one of our mortgage advisors to find out what could be the best deal to suit your circumstances.
Remortgage Mortgage Rates
You can spend a lot of time researching mortgage rates online, using comparison websites and lender’s own product listings, and also studying best-buy charts in an effort to narrow down the best mortgage interest rates for a remortgage, but still never find the best deal for your circumstances. This is because there are numerous specialist mortgage lenders who do not advertise online or appear on the high street, who offer competitive rates, but only consider business through established intermediaries such as independent brokers like ourselves.
At The Mortgage Centres, our professional brokers are able to search across the whole of the UK market, with access to exclusive deals not found through public channels, to find the right remortgage product for you.
Remortgage Fixed Rates
One of our experienced advisors will be able to look at every aspect of your situation – your current and future needs – and provide you with an unbiased recommendation for the most suitable remortgage deal to meet your requirements. It might be that you would be best going with a shorter-term 2 or 3-year fixed-rate deal, or that you need a longer term fixed-rate plan lasting 5 years or more.
As whole-market brokers, we have access to many mortgage deals and lenders that you won’t see on the high street, often on an exclusive basis. Whatever your needs, we are best placed to move fast to efficiently secure the best deal for you.
Remortgage Tracker Rates
As before, the options available to you will depend on your individual circumstances, but the best tracker rate mortgages are very rarely available on the open market. Instead, they are offered by specialist lenders who will only work through trusted brokers and intermediaries such as ourselves at The Mortgage Centres, and who will have varying criteria when it comes to accepting an application.
In the highly competitive and regularly shifting mortgages market, the best deals may appear and disappear quickly. It takes a thorough knowledge of the industry and strong relationships with lenders to know who to approach and what the best deals will be.
Our expert advisors will be able to let you know if you are eligible for a tracker remortgage with the best rates available, and what terms you should be able to expect. Get in touch today for free initial advice.