Remortgage, relax we take care of everything

How does a remortgage work?

A remortgage means moving your mortgage to a new lender while staying in the same property. Our Altrincham based remortgage expert Nick Bone based in Altrincham can advise if this is right for you.   

What is a remortgage?  

A remortgage is when you apply for a new mortgage with a different lender but stay in your current home. If you change your deal with your current lender this is known as a mortgage product switch – we can help with this too.  

When should I remortgage?  

You can usually remortgage at any time, yet it might not always make sense to do so. Our Altrincham mortgage advisor offers fee free mortgage advice and can recommend the right solution based on your circumstances.  

Why remortgage?  

Your fixed-rate deal is due to end, start the process early our Altrincham Mortgage expert recommends ideally 3- 6 months before your deal expires.

Your property is worth more than when you bought it, your loan-to-value ratio may have changed (what you owe vs the property value) this could mean you have access to a wider range of deals.  

You are on the lenders standard variable rate and can switch deals without incurring an early repayment charge.  

Substantial changes in your life, planned or unexpected, could mean that your current mortgage no longer suits your needs. If you are starting a family or expecting a significant change to your income, remortgaging gives you a chance to find a deal that’s a better fit for you now and in the future.   

You want to borrow more on your mortgage. Clients want to release equity from their homes for many varied reasons such as helping children with deposit for their first home, home improvements, more flexibility or fund a buy to let property.   

Should I remortgage with my existing bank or switch to a new lender? 

There are thousands of remortgage deals and banks want your business. Even if you remain with your current lender, it is always worth checking to see what other providers are offering.  

What is a green remortgage?  

A green mortgage in the UK is a product that offers buyers and switchers of energy efficient homes favourable terms. Most often this can mean a lower interest rate or cashback on green products.  Each lender will have their own terms and conditions for green mortgages. Our mortgage broker will consider eligibility for green remortgage products as part of the advice process    

Are you ready to remortgage?  

Check your mortgage paperwork this will tell you when your current deal ends. It will also document any exit fees and any early repayment charges that would need to be considered.  

Consider your income and expenditure, your remortgage will need to be affordable. To give mortgage advice your mortgage broker will need proof of earnings and capture expenditure. We would recommend having 3 months’ pay slips and bank statements ready. If your self employed as a guide 2 year’s tax returns and/or finalised accounts.

Check your credit score If you have concerns about being approved for your remortgage discuss this with your mortgage broker early in the process. At Greenwood mortgages we are experts in remortgages, we do this every day and are up to date with lenders criteria and what they are likely to accept.   

How much can I borrow?  

Our mortgage calculator blog can give you some tips on how much you can borrow. Really it could be rephrased how much should I borrow. Our Altrincham based Mortgage Adviser can tell you much you can borrow and ensure it is affordable for you and your family.  

How does the remortgage process work?  

Speak to a mortgage broker.  Greenwood Mortgages do not charge any advice fees, get in touch and we can start the process. We will get an understanding of your priorities and goals and then search for the best remortgage deal for you.  

Consider remortgage costs 

Your Altrincham remortgage expert will consider any associated costs as part of any recommendation.  

Get an Agreement in principle 

An agreement in principle is an indication from the lender of how much they could be willing to lend. Get in touch, we can arrange this for you  

Apply for your remortgage  

Our remortgage specialist will find you the best deal and complete all the paperwork. We will look after the application all the way through to completion. No advice fees - no hidden costs or surprises.   Get in touch to start your remortgage search today