5 tips to get the best remortgage deal

If your current mortgage deal is coming to an end, or you want to switch to a new mortgage deal to either help you make some long awaited home improvements, purchase additional property or reduce your current mortgage term, then there are a few things you should consider to ensure you get the best remortgage deal.

Here’s our top 5 tips for remortgaging your home:

Get organised

When your current mortgage expires, your lender will automatically move you to a new deal, which will likely be a higher rate and therefore more expensive, unless you shop around!

Ensure yours remains competitive by searching for a new deal around 3 months before your current mortgage is due to expire. This will give you plenty of time to see what's on offer when remortgaging your home.

Look at all your options

When looking for the best mortgage deal, speak to your current lender to see what they are prepared to offer you. But, make sure you also look at what else is on offer, or you could miss out!

As a comprehensive mortgage broker, we can help you compare thousands of deals from the UK’s leading mortgage lenders, including some which are exclusive, which can’t be found on either the high street or comparison sites, to ensure you get the right product for your needs.

Consider the costs

If you are currently tied into a mortgage, you will need to check whether repaying your mortgage before the end of the agreed term will incur an exit fee and/or early repayment charge.

Your new lender may also charge a fee for arranging your mortgage, valuation and legal fees, so it’s important to check whether a new mortgage deal would be the best option, which we can take care of for you.

Explore the benefits of remortgaging

If you’re looking for a more flexible mortgage that will allow you to make overpayments when you can afford to, or a deal that enables you to use your savings to reduce your mortgage interest, then seeking expert advice will ensure that you get a mortgage that works for you. Again, we can guide you throughout the entire process to make sure you’re 100% happy with your new mortgage deal.

Speak to an expert

Our mortgage advisers are experts in their field and offer personalised remortgaging advice, regardless of your circumstances. They will help you work out how much you can afford to borrow and talk you through all your available options, to ensure that you get the right remortgage product for your needs.

If you choose to proceed with your application, we will also handle everything for you; completing all the necessary paperwork and liaising with the related parties, to remove the stress and hassle from you!