APPLY FOR A REMORTGAGE
Finding you the right remortgage deals, for a stress-free switch and no broker fee!
With so many mortgage options available in the market, it can be a daunting prospect to arrange the right mortgage for your personal situation, and to ensure it is ready to complete on to save you paying more when your current mortgage deal ends and you move onto the lender’s standard variable rate. It is important to note that your credit score plays a crucial role in determining the repayment mortgage options available to you.
At The Mortgage Branch we can review your circumstances and future plans in full to be able to advise you which mortgage rate and lender will be the most suitable remortgage option. Why not call us today see how we can help you?
You may have to pay an early repayment charge to your existing lender if you remortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £495.
How we help
There are potentially a number of decisions to make at the time of remortgaging. You may be thinking about consolidating debt, you may have the need to move in a few years, you may be in a better financial position to when you last purchased or remortgaged the property and this may lead to reducing your term, or you may be looking at mortgages where you have flexibility to overpay.
You may have savings that are not being utilised to their full and an Offset Mortgage may be relevant to discuss, or to pay your mortgage down. All of these are important decisions to make and by discussing them with a fully qualified, professional mortgage broker regulated by the Financial Conduct Authority, they will be able to advise you of the most appropriate action to take when considering remortgaging.
When you come to remortgage, this should be seen as a great opportunity to review your mortgage in full and consider all the above potential decisions. By undergoing a full review with a mortgage broker, they will be able to identify the most appropriate new mortgage deal that will support your needs and demands over the next few years that it will be in place.
Why not call us today so that we can start to review your position and assess the most appropriate mortgage options for you.
Free Mortgage Monitoring
The Mortgage Branch has launched a platform to allow anyone with a mortgage, (or multiple mortgages!) to automatically track and review 1000s or mortgages daily, ensuring you’re on the best possible deal!
2000
clients
helped in thelast 3 years
You may have to pay an early repayment charge to your existing lender if you remortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £495.
Why choose The Mortgage Branch?
Here at The Mortgage Branch we see every client as an individual. No one mortgage is the same and every clients circumstances are different. We recognise that and our team work day in day out to ensure that each and every client gets access to the right mortgage for their circumstances.
We listen carefully to your circumstances, plans and ambitions and then advise you on the right mortgage with affordable monthly payments. Given the vast array of mortgage options available on the market, and ever more complex lender criteria to overcome we ensure that we put our knowledge at your disposal to enable you to get on with what you do best, leaving us to look after your mortgage from start to finish.
You will always be able to speak to someone at The Mortgage Branch, we are not a faceless organisation, and by the end of your purchase or remortgage application you will get to know our staff well, and will certainly be appreciative of the service we provide, evidenced by our current 5* Google review status.
If you have found it difficult navigating the mortgage market or don’t know where to begin, have been let down by your bank or by another broker, or are just looking for someone to take control of one of the most stressful processes in your life, then get in contact as we would love to help.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £495. You may have to pay an early repayment charge to your existing lender if you remortgage.
We really know our stuff
We have expert mortgage advisors for any type of property purchase or remortgage
Full time case handlers
Committed to supporting your application journey from submission to completion
Access to 90+ lenders
Access to a huge number of mortgages and lenders across the market
We work around you
We know it’s hard to find time so we offer appointment times to fit in to suit your busy schedule
What is the remortgage process?
The remortgage process is much like a purchase mortgage application. The main difference is that there are no other parties to deal with other than the lender and the solicitor who will complete the legal work required if you switch lender.
We will discuss your personal circumstances in full to be able to provide you with the right advice for your needs, and then take care of all the mortgage application paperwork and submission.
Our Case Managers then pick up the application and manage this process with the lender, keeping you updated throughout and answering questions the lender may have and liaising with you on any information not on file that the lender may require.
This will ensure we can get you the most appropriate remortgage rate for your circumstances.
Once the mortgage is offered the legal work starts, and you will need to provide some information to the acting solicitor for them to complete the work that they have to undertake. We will remain on hand throughout this process and regularly speak to the solicitor to ensure that everything is moving along so that you are in a position to complete the mortgage and not spend anytime on your current lenders Standard Variable Rate (SVR) that may cost you money.
Latest Mortage Deals.
We’ve picked out some of today’s holiday let mortgage rates to give you an idea of what interest rates could be available to you.
Can I do my own remortgage?
Absolutely, we would never argue with anyone wanting to take this task on themselves as you don’t ‘need’ a mortgage broker to assist you with this. Our advice, as detailed above is always to take professional advice when reviewing your mortgage. The advantages to doing this are numerous:
- You will know that you have the most suitable mortgage option for your needs at the time of applying.
- Your broker will have explored changes to circumstances, future plans you may have and take all of these into consideration as part of their advice.
- By taking professional advice and working with a broker it is highly likely that you will save a significant amount of money over the lifetime of your mortgage as they are always working to place you with the most suitable lender and rate for your circumstances at each review.
- It will save you time and hassle, by spending an hour initially reviewing your circumstances, wants and needs with a broker you can then get back to what is important to you while they get on with all the research. After receiving your brokers advice all we then require is documentation to support the application to be provided and we then get everything submitted. There is no need to wait on hold to lenders to be updated, our Case Managers do that for our clients day in day out.
- If there are any issues with the application or post offer legal process we are on hand to deal with those and advise you of the next steps.
- If you needed someone to review the electrics in your home you would employ an electrician? With your mortgage being the biggest financial commitment that you will ever have, why would you not employ a professional to manage this element of your finances to ensure you are at all times with the right lender, on the right rate, on the right term and repayment scheme for your circumstances…. As well as having a dedicated admin team on hand throughout any application, and after you have completed for help/assistance and to ask questions?
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £495. You may have to pay an early repayment charge to your existing lender if you remortgage.
FAQs
How much can I borrow and at what rate?
After discussing your individual circumstances at the initial meeting we are then able to confirm the right re-mortgage solution for you, usually that day, or at the very latest within 24 hours of the initial meeting. This means that you are able to make proactive decisions based on the advice and information we can provide and speed up the re-mortgage application process. We like to ensure that we work together with our clients at a pace that suits them, and if there is any urgency regarding when your current rate is expiring we will do all we can to move things along as quickly as possible to get things completed in the shortest possible time to save them money.
What if there are better options that become available before I actually complete on the rate applied for initially?
Our brokers are reviewing rates in the market every day and are aware of any changes to rates whether these be up or down. If we still have the time available to us to submit a new application, if beneficial to our client, to achieve a better rate (assuming our clients meets the lenders criteria) then we will do all we can to switch the application to achieve the best possible rate and terms for our clients when the mortgage completes and you switch to a new lender.
One aspect of this is time, if we don’t have the time to be able to get the mortgage completed prior to you going onto your current lenders Standard Variable Rate we would have to take this into consideration and work out the cost of this in line with the rate currently offered that can complete, the new rate that is available and how long you may have to be on the Standard Variable Rate for. If there is the possibility of putting you in a better financial position by switching then we will always look to do this.
Isn’t is costly to switch lenders and to pay additional fees when you remortgage?
Our job as mortgage brokers, and as part of our professional code of conduct, we have to be able to evidence that any remortgage application will benefit you financially to move away from your current lender. We will assess their current rates alongside those of other lenders to ensure that it is beneficial to you to remortgage.
It may also be that you need to raise additional funds at the time we review things for you for home improvements etc.. but based on your circumstances your current provider cannot accommodate that request. If this is the case we would explore the market to find a new lender that can help. It may be that due to a change in circumstances we need to extend the term, or change the repayment type and again this will come down to lender criteria to support these requirements. Our expertise and knowledge of different lenders criteria is therefore extremely useful, and time saving, for all of our clients.
For all of the above reasons it is always advisable to fully review your circumstances and your options, as by not doing this you may be in a worse financial position by simply staying with your current lender and regretting this decision later down the line.
If I am not able to remortgage to a new lender due to a change in circumstances, are you still able to help me?
Yes, we will liaise with your current lender and discuss and review available options with them. If you are struggling to pay your mortgage we can also discuss options to support your through any challenging periods and again discuss this with your lender to ensure you get the help you need
Do we charge a fee for this service?
Yes, our typical remortgage fee is between £250-£495.
Why do you charge a fee?
We view our fee as you, our client, employing us for our time and professional expertise which also includes a high level of background administration work handled by our Case Managers. The fee ensures that every mortgage is viewed the same, irrespective of the borrowing amount and therefore there is no conflict over which case to prioritise if we are dealing with a £1million application or a £50,000 application.
By charging a fee we can manage the workload that we take on, this ensures that the clients who agree to our fees get the high level of service we expect as we do not have to take on additional applications that some brokers (who do not charge a fee) would need to take on, which may impact the time/service levels given to clients. By charging a fee we can, and rightly so, be held accountable to delivering on our service to all clients that engage us as their mortgage broker.
We can never guarantee that a mortgage will ever complete (sale/purchase falls through, change in circumstances, undisclosed client credit position etc..) and in instances such as these, we would have provided all of our time, and our team’s time, for free. We need to at least cover the cost of our time and processing an application, to then be able to make a small profit from the commissions we receive from lenders for completed mortgages to remain a viable business for new and existing clients.
The fee also covers ANY and all advice that you need whilst on your current rate as we are always on hand to support you should there be time when you need our assistance or to discuss your options.
What is a lender’s valuation?
When remortgaging your property, your lender will conduct a valuation to determine its current market value. This valuation is important because it helps the lender assess the loan-to-value ratio and determine the amount they are willing to lend you.
The lender’s valuation may involve an inspection of the property and comparisons with similar properties in the area. It’s important to note that the lender’s valuation may differ from your own estimate or a professional surveyor’s valuation. Understanding your lender’s valuation can help you make informed decisions during the remortgage process.
When you put down roots, so do we.
Working with our long-standing charity partner, Gloucestershire Wildlife Trust, we pledge to plant a tree in your name when your mortgage completes.