Remortgages

Remortgaging? Confido will find you the best rate.

Remortgaging is the process of replacing your existing mortgage with a new one, typically with a different lender. It’s often done to secure a better interest rate, especially when your current fixed-rate deal is ending, or to access equity in your home for various purposes such as home improvements or debt consolidation. Whether you’re looking to lower your monthly payments, consolidate debt, or release equity, remortgaging can be a savvy financial move. At Confido Financial, our team is here to guide you through the remortgaging process, ensuring you find the best solution tailored to your unique financial goals and circumstances.

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How Can We Help?

Remortgaging offers a solution for various scenarios, often arising when your fixed-rate agreement with your current mortgage lender nears its end. Failing to switch could result in transitioning to a standard variable rate (SVR) mortgage, potentially leading to higher interest rates. Whether aiming to optimize your loan-to-value ratio (LTV) due to increased property value or seeking funds for home improvements, remortgaging provides flexibility.

Why shoulder the stress alone?

With numerous mortgage lenders, each with unique criteria and offerings for self-employed applicants, navigating the landscape can be overwhelming. That’s where a seasoned mortgage broker steps in as your guiding light, particularly one well-versed in remortgages. At Confido our experts specialize in finding tailored mortgage solutions for our clients. Let us handle the legwork, ensuring you secure the best deal while enjoying peace of mind.

Remortgaging done right

Getting the timing right is crucial when it comes to remortgaging. Arranging a new deal in advance can avoid the prospect of paying an expensive standard variable rate, or worse risking interest rate rises.

You may wish to release additional money from your property during the process, perhaps for home improvements, to consolidate debts or to purchase a new property. We can advise you on the impact this will have to the overall deal and any limitations that lenders may stipulate.

At Confido we search thousands of mortgage products across hundreds of high street and specialist lenders to make sure we find the right deal for you. We will assess your options with your current lender vs switching to a new lender and advise you on the most suitable course of action. Then we’ll take care of all the paperwork for you, reducing the hassle and keeping the process stress free.

If your mortgage deal is due to expire within the next 6 months, or you are already on the standard variable rate, please get in touch with us today.

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FAQs

Remortgaging involves switching your existing mortgage to a new deal, either with your current lender or a different one. You might consider remortgaging to secure a better interest rate, release equity, or consolidate debts.

The ideal time to remortgage depends on various factors, including your current interest rate, the length remaining on your existing deal, and market conditions. It is advisable to start exploring options a few months before your current deal ends.

Remortgaging typically incurs fees such as arrangement fees, valuation fees, legal fees, and potential early repayment charges if you are leaving your current deal early. It is essential to factor in these costs when considering a remortgage.

Yes, if your property has increased in value since you took out your original mortgage, you may be eligible for a better loan-to-value ratio, potentially leading to more favourable rates when remortgaging.

Applying for a remortgage may result in a hard inquiry on your credit report, which can temporarily impact your credit score. However, if you maintain timely payments on your new mortgage, it can ultimately have a positive effect on your credit score over time.

Your home may be repossessed if you do not keep up repayments on your mortgage.