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Whether you are looking to remortgage to secure a new fixed rate, raise money, or something else we’re here to help. Our remortgage advice team are very experienced in helping clients in all remortgage situations.

Usually, the main reasons why our clients seek advice is to remortgage for a new fixed rate deal, to remortgage to raise money for home improvements, to remortgage to consolidate debts, or something a little quirkier such as to remortgage to remove a name from a mortgage.

If you are over the age of 50 and are looking at your remortgage options, there will be options available for you also.

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Remortgage advice is quick and easy with us!

The first step is to schedule a free, no-obligation remortgage advice consultation with one of our team. If you’re currently in a fixed rate, the perfect time for this is around 6 months before your current deal expires.

Your mortgage broker will answer your questions, explain your remortgage options, and let you know how much your new mortgage will cost per month. We’ll also compare any product transfer mortgage deals being offered by your current lender.

Our expert mortgage case handlers will be on hand all the way through your application. They’ll ensure everything goes smoothly and help you overcome any hurdles that you may face along the way.

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Many clients like the idea of a fixed rate remortgage deal, typically over a period of 2, 3 or 5 years. Having a fixed rate mortgage gives peace of mind when budgeting with incomings and outgoings.

We’ll search 1000’s of remortgage deals for you, saving you both time and money.

If you are looking for a remortgage to release equity or for a buy to let remortgage, we’ll be able to help here also.

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Remortgage Advice FAQs

What is a remortgage?

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A remortgage is the act of taking out a new mortgage on the same property. When doing a remortgage, many homeowners choose to fix into a new deal for a period of typically 2, 3 or 5 years for peace of mind.

If you have a lot of equity in your home, during a remortgage application, you may have the option to borrow additional money if you like. This can be used for various reasons including, to repay debts or for home improvements.

You’ll also have the option to shorten or extend the number of years your mortgage is over to adjust the monthly payments. As a rule, the shorter the mortgage term, the less interest you’ll repay over the term of the mortgage.

Your mortgage broker will be able to run through the above options with you and answer all your questions.

Depending on your requirements, if you are over the age of 50, there are also alternative products available to you that run alongside traditional mortgages.

Products such as a retirement interest only mortgage, or a lifetime mortgage in the form of an equity release mortgage maybe suitable to your personal situation.

Can I remortgage with the same lender?

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Yes, this is called a product transfer. Being experts at remortgages, we’ll always compare what your current lender is offering to what is available elsewhere. It’s all part of our remortgage service!

Often, lenders make it exceptionally easy for borrowers to lock into a new fixed rate deal via mobile apps or internet banking portals without first offering them mortgage advice.

Without a mortgage broker on your side, mistakes from fixing again without fully considering your options can prove costly.

If you are offered a new deal, please always speak to a mortgage advisor beforehand, we’ll be able to see what your lender if offering you and compare this to what is available elsewhere.

What are the benefits of a remortgage?

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The benefits of a remortgage are to ensure that you are always on the best, most suitable mortgage deal for you. Our aim is to minimise the amount of interest that you repay whilst ensuring that you have the best mortgage product for your needs.

Our mortgage brokers will consider getting you the best rate, taking into account any overpayments you wish to make, a level flexibility that might be required, and your likelihood of moving home in the future.

Another benefit of a remortgage is that if you have a lot of equity in your home, during a remortgage application, you may have the option to borrow additional money.

This money can be used for various reasons including, to repay debts or for home improvements.

When should I look to remortgage?

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You can remortgage anytime if you’re not locked into a fixed rate deal, or your property doesn’t have a mortgage on it currently.

If you have a fixed rate mortgage, 6 months before your product ends is a good time to book in for a free remortgage consultation and find out your options.

Should you need to remortgage in the middle of a fixed rate mortgage deal, you’ll still be able to do this but there will most probably be early redemption fees payable.

If this is the case, our mortgage broker team will compare any alternatives such as a second charge mortgage, often called a secured loan, or a further advance mortgage from your existing lender to find the most cost-effective option for you.

How many times can I remortgage?

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There’s no set number of times you’ll be able to remortgage for a new deal, although, you might find a remortgage for debt consolidation harder if not impossible multiple times.

As part of our on-going mortgage service, we’ll monitor your mortgage to ensure that you’re always on the best deal available for your personal situation.

If you have built up more debts in the form of credit cards and loans and wish to remortgage for debt consolidation a second time, you’ll find this harder for this application to be accepted.

This will be down to the new lender being nervous of the way you conduct your spending.

Your new lender will be worried about having to repossess your home and making you homeless should you not be able to meet your mortgage repayments.

How early can I remortgage my home?

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If you are looking to remortgage early into a fixed rate mortgage deal, you’ll still be able to do this but there will most probably be early redemption fees payable.

If this is the case, our mortgage broker team will compare any alternatives such as a second charge mortgage, often called a secured loan, or a further advance mortgage from your existing lender to find the most cost-effective option for you.

If you are looking to remortgage early due to a personal situation such as a divorce/separation etc, please get in touch as there will be various options for you to consider.

If you are a landlord looking for a buy to let remortgage, you’ll also have options. Often, landlords buy doer upper properties with bridging finance.

Short-term bridging finance can be set up quickly and then is repaid in full via a remortgage once the renovation work is complete.

Does a remortgage affect your credit score?

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Generally, not. Providing that you don’t miss a payment, a remortgage won’t affect your credit score. However, for a remortgage, you’ll need to pass a credit check with your new lender.

In general, credit searches, such as for a new mortgage or loan, etc., may temporarily lower your credit score. However, having lots of credit searches from different lenders and providers may have a negative impact on your score.

If you are concerned about your credit score and are looking for remortgage with bad credit options, we’ll be able to help here.

If you are going through a mortgage application, it’s always best to avoid unnecessary credit searches. Taking out any credit can impact your application, even if your mortgage has been offered right the way up until completion.

I’ve previously been declined, can I still remortgage?

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Yes, possibly. Often, the clients that contact us for remortgage advice have tried somewhere else first and experienced problems. Problems can occur initially upfront or further down the application process.

We’re an experienced team here and we always aim to place your mortgage with the right lender for your individual situation the first time around.

Do I need a deposit to remortgage?

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No, you will not need to put down a deposit to remortgage your home. When you first purchase a property, you will need to put down a deposit for the security of the mortgage lender.

Because you already own your home, the loan-to-value on your new mortgage is instead determined by how much equity is in the property. In some cases, when it comes to your remortgage, you may be able to access a lower loan-to-value product.

As a rule, the more equity that you have in your home, the better mortgage rate you’ll qualify for.

Can I remortgage my buy to let?

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Yes, landlords can remortgage too. This is something we regularly come across when providing mortgage advice to existing landlords. Remortgage for a new deal or to capital raise are options for buy to lets also.

To find out more and to see how we can help, head to our buy to let remortgage page.

Can I remortgage to pay off debt?

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Yes, you can remortgage to repay debts. Typically, a remortgage for debt consolidation is when any outstanding credit card or personal loan balances etc are repaid and added on to your mortgage.

It’s not without risk though, we’ll help you consider the pros and cons of a remortgage for debt consolidation and recommend the best way forward.

If you’re over the age of 50, we have various later life mortgage options available also.

Can I remortgage with bad credit?

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Yes, possible. We have remortgage with bad credit options available. A bad credit remortgage is more common than most clients think. Usually, the more equity you have the better your chances will be of being accepted.

Bad credit options include getting a mortgage with a ccj, defaults, missed payments and a payment plans.

If you are looking to repay your debts with your mortgage, this could be an option for you also. Your mortgage broker will run through both the pros and cons with this as a debt consolidation remortgage is classed as specialist lending.

I own my home outright. Can I still remortgage?

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Yes, there’ll be options. If you’re living in an unencumbered property, i.e., a property without a mortgage, you can still remortgage.

You’ll need to run through an application process, meet your lenders criteria and pass a credit check like with a normal mortgage.

Also, if you’re over the age of 50, we have various later life mortgage options available, these include a regular mortgage, a retirement interest only mortgage and a lifetime mortgage.

Are there any alternatives to a remortgage?

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Yes, lots. The alternatives that are available to you will depend on the reason why you are wanting a remortgage.

If you are wanting a new deal, the alternatives that we’ll consider are a product transfer with your current lender. We’ll compare the rates offered here to what’s available on the market.

If you are looking remortgage to capital raise, alternatives such as downsizing your property, unsecured credit in the form of credit cards and loans, a further advance from your existing lender, and a secured loan will be considered to meet your needs.

Why should I use a mortgage broker for remortgage advice?

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A trusted and experienced mortgage broker will be able to help you compare deals, looking at what options are most appropriate for you to take as you head towards the end of your initial mortgage deal.

As part of your free, no-obligation mortgage consultation we’ll answer all your questions and let you know your options.

8 Reasons to choose UK Moneyman

Remortgage Advice 7 days a week.

We work around you and your busy lifestyle. Choose an appointment time that suits you.

Free remortgage review, we don't ask for upfront fees.

We only ask for a payment on results.

Everyone gets given a loyal case manager.

Your case manage will be with you every step of the way.

We care, on getting you the best result.

From start to finish we will be with by your side. We understand how remortgaging works and understand the market inside and out.

Going the extra mile to make sure you have the right cover and insurance.

We like to make sure that everyone is covered with the appropirate insurances, protection them and the ones you love.

1000s of remortgage deals.

Our team of mortgage advisors can look through 1000's of remortgage deals to find you the most suitable product.

We've been in the industry for over 20 years you are in safe hands.

We are able to take a look at thousands of different remortgage products to determine which deal would be most suitable for you.

Your mortgage advisor will support you every step of the way.

Overcoming hurdles that you face along your remortgage journey.

Why People Remortgage/Reasons to Remortgage

Remortgage for a new deal (current product expiring within 6 months)

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If you are currently on a fixed rate mortgage deal and you have less than 6 months to go, you’ll be able to secure a new deal.

Usually, your existing lender will offer you a product transfer deal and then we’ll compare this to what is available elsewhere. It’s always usually cheaper for you to switch to a new lender.

Your new lender will make it very easy for you to take a new deal with them, either via your phone app or internet banking portal. Please don’t do this ahead of speaking with a mortgage broker, like us, to shop around and check that this is the best thing for you to do.

Remortgage on to a fixed rate for peace of mind

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If you are mortgage payments keep changing with interest rate movements and you’ve had your property for a while, you’ll most likely be on your lenders standard variable rate.

Being not tied into a deal on a standard variable rate does have its advantages in that you can be flexible on overpayments. However, often we find that clients like the peace of mind that having a fixed rate gives them when budgeting.

Fixed rate remortgage options include 2-, 3- and 5-year deals. These fixed deals are recommended to 90%+ of customers, however, they are the best option for everyone. Your mortgage broker will recommend the best way forward for you.

Being on a fixed rate will give you the security of being protected by any future interest rate increases along with a set monthly mortgage payment to simplify our finances.

Remortgage to borrow more/capital raising

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Need to capital raise? If you have had a mortgage for several years, you’ll likely have a fair amount of equity in your property. A remortgage to release equity will allow you to unlock some of this cash should you need to.

The main reasons why our clients choose to remortgage to release equity are, debt consolidation of loans and credit cards, gifts to family, divorce or separation settlements, home improvements and often for those aged 50+ retirement planning.

As with other regular remortgages, you’ll have to pass a lender’s affordability check and a credit search.

Remortgage to repay help to buy equity loan

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A help to buy remortgage is used to repay the equity loan you took out when you bought your new build home via the scheme. The scheme allowed clients to buy new build houses with as little as a 5% deposit which was then topped up by a 20% equity loan (40% in London).

No interest is charged on the equity loan for the first 5 years, following that, the interest rate is linked to inflation. The amount of loan is also linked to the value of your home, meaning that if your home has significantly increased in value, so has it.

There are various options for you to consider about repaying your help to buy equity loan. It’s always best to see professional mortgage advice from us beforehand.

Remortgage to consolidate debts

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Typically, a remortgage for debt consolidation is when any outstanding credit card or personal loan balances etc are repaid and added on to your mortgage.

It’s not without risk though, we’ll help you consider the pros and cons of a remortgage for debt consolidation and recommend the best way forward.

If you’re an older borrower, we have a dedicated later life team to help, read more about your options with mortgages for over 50s.

You should think carefully before securing other debts against your home. By adding your unsecured debts to your mortgage, which is secured on your home, you are potentially putting your home at risk if you cannot make the required repayments.

Although the total monthly cost of servicing your debt may have reduced, the total cost of repayment may still have risen as the term of your mortgage is longer than it may have taken to repay the debts originally.

Remortgage to supplement retirement income (over 50’s)

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Often, older clients are looking to remortgage to raise capital on their property. Reasons such as to supplement pension income, helping family and to clear debts are popular.

Mortgage lenders have been very innovating in this space over the last few years and lots of great products are now available to older homeowners looking to either purchase a new home or remortgage.

Remortgage for home/garden improvements

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A remortgage for home improvements will allow you to borrow additional money on your mortgage to fund a project in your home. Once the home improvements are complete, your property value will likely rise.

The main reasons why our clients choose to remortgage for home improvements are for an extension, to create an additional bedroom, for a new kitchen or bathroom, a loft conversion, garden improvements, a driveway redesign, new doors and windows, adding a garden room, a gym or an internal redesign.

Mortgage help for all ages, if you’re aged 50+, a remortgage for home improvements or alterations is possible also. Read more about mortgage options for the over 50’s including equity release.

Borrowing more money on your mortgage to fund your home improvements will help you spread the cost of your project out over a longer term.

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