We know which lenders might give you the green light
We work closely with the major providers to bring you the right deal. Get access to well-trusted mortgage providers without the hard work. Plus, we work with over 80 lenders to ensure you find the most suitable option for your needs.
Accord Mortgages
Pepper Money
Barclays
Principality Intermediaries
Bluestone Mortgages
Buckinghamshire Building Society
Buy-to-Let by Foundation
Kensington
Metro Bank
Newcastle for Intermediaries
The Nottingham Building Society
Mansfield Building Society
Your home may be repossessed if you do not keep up repayments on your mortgage.
What you need to know
A remortgage can save you a significant amount of money, and is usually for two main reasons, either because a current mortgage is coming to an end or even though the mortgage term is not over - there is scope for a better rate.
The current mortgage deal is about to end:
As the best mortgage rates are usually for a limited period of time - usually between two and five years - at the end of it, the mortgage tends to revert back to the standard variable rate. This can be much higher than the original deal and often necessitates a remortgage.
The current deal is not finished but you want a better rate:
The obvious thing to consider here are the early repayment charges as they can be a significant amount - often between 2 and 5% of the outstanding loan. Additionally, lenders may charge an exit fee to get out of the mortgage. Bearing this in mind, remortgaging mid-term involves taking into account savings from the new rate minus the various additional costs involved in exiting the mortgage mid-term.
What our customer say
Discover what our customers have to say about their experiences with us. Hear from those we've assisted in making their property and financial dreams a reality, and see how our commitment and expertise have made a difference.
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Points to consider when remortgaging your home
- The main reason to remortgage is to ensure you are not paying more than you need to. Moving to a new lender with different interest rates could save you a lot of money in the long run so it is worth considering.
- You could remortgage your monthly repayments for a longer period of time – this will ensure your monthly repayments will remain the same during this time.
- Many people also remortgage to raise capital to pay for home improvements or consolidate their unsecured debts.
Read our guides on remortgaging your home here.
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The team are fantastic. We were older first time buyers. Guided us through everything, superb communication and updates. Answer any questions thoroughly and instantly. Sorted our will too. So happy, came back to them for our remortgage after fixed term finished. Honest about the challenging climate but did the best they could and got us a deal that suits us. Again, constant and immediate contact as things progressed.
Mark
Whole team are fantastic
How does remortgaging work?
Remortgaging means changing your current mortgage deal whilst you remain in the same property.
Should I remortgage?
You can remortgage at any time but it is not worth doing just to switch lender.
What information do I need for my mortgage?
You can remortgage for a variety of reasons such as securing a lower interest rate, consolidating debt or raising capital for home improvements.
FAQs
Here, we answer the most common questions about our financial services to help you make informed decisions. If you need more detailed information, our expert team is always available to assist.
Remortgaging involves switching your existing mortgage to a new lender or deal without moving home. It typically aims to get a better interest rate, reduce monthly payments, or release equity. The process involves applying for a new mortgage and using it to pay off your existing one.
The best time to remortgage is usually when your current mortgage deal is about to end, typically before the end of a fixed or discounted rate period to avoid reverting to the lender's higher standard variable rate (SVR). It’s also beneficial to remortgage if interest rates have dropped, your property value has significantly increased, or you need to borrow additional funds.
Remortgaging can involve various fees, such as early repayment charges (ERC) on your existing mortgage, valuation fees, legal fees, arrangement fees for the new mortgage, and any broker fees if you use a mortgage broker. It’s important to consider these costs when calculating the overall benefit of remortgaging.
The amount you can borrow depends on factors like your property's value, your income, existing debts, and the lender's criteria. Generally, lenders will offer up to a certain percentage of your property’s value, known as the loan-to-value ratio (LTV), and will assess your ability to repay based on affordability checks.
Benefits of remortgaging include lower interest rates, reduced monthly payments, releasing equity for other financial needs, and switching to a more suitable mortgage product. However, risks include incurring fees that outweigh the savings, extending the mortgage term which could increase the total amount paid, and the potential for higher interest rates if you don’t lock in a good deal.
Find your home improvements remortgage solution
Remortgage your house to free up capital to make those home improvements. You could also reduce your monthly payments through a lower rate and make significant savings - sometimes thousands each year. At Mortgage Wise, we are dedicated to finding you the right remortgage - that saves you money while taking into account your financial situation - ensuring you don't pay more than you need to. Get a quote or request a callback by clicking on the below button.
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Mortgage Wise team are on hand to speak to you today. Whether you’re looking for a face-to-face appointment or a quick chat on the telephone, we are here to provide the mortgage broker advice you need for your next mortgage.
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From application to liaising with lenders, solicitors and estate agents - we handle it all.
Our dedicated processing team to ensure your application is handled smoothly until the day you complete.
We provide a lifetime service
We’ve built our reputation on long lasting relationships with our clients. You will recieve regular contact from us beyond your initial application. When it’s time to remortgage, we will be in touch to discuss your options. Let Mortgage Wise take the hassle out of managing your mortgage.
Home improvements remortgage advice
We’ve built our reputation on long lasting relationships with our clients. You will recieve regular contact from us beyond your initial application.
When it’s time to remortgage, we will be in touch to discuss your options. Let Mortgage Wise take the hassle out of managing your mortgage.
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Our guides
In our our Guides section, you’ll find valuable resources to help you with various financial and property-related decisions. Whether you’re buying your first home, managing bad credit, exploring buy-to-let opportunities, or consolidating debt, we have the information you need. Our guides also cover topics like home improvements, interest-only mortgages, and remortgaging, providing you with the knowledge to make informed and confident choices.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Some buy to let mortgages are not regulated by the Financial Conduct Authority.
