Remortgage Rates
As Independent mortgage experts, we ensure our customers never have to go onto the lenders’ standard variable rate – unless through choice! We trawl the entire marketplace looking for the most favourable mortgage rates, so you don’t have to!
We truly understand the remortgage market and will guide you through the process to ensure a stress-free transaction. We always start by reviewing what your existing lender can offer before looking at the other lenders to see if we can find you better terms.
Once you choose a new mortgage product, you can usually opt for a new product if rates improve. Many customers secure their new rate six months prior to the expiry of their existing rate, as this gives a degree of protection should the market take an unexpected turn.
To get going with absolutely no commitment at this stage, complete the form opposite or call us – we are very friendly and can offer you a video call or telephone appointment to assess if we can help you.
If you would prefer to give us some more details so we can send you a personalised quote, you can do this here
Re-mortgage Your Home
What Makes Us Unique
- We will never charge a broker fee
- Whole of market advice
- Access to exclusive rates often not available on the high street
- Immediate appointments available
- Use us online via Teams or over the phone
- At times which will suit you
- Hassle-free and stress-free
- Confidence to change rate if rates improve - subject to lenders T&Cs
What is a Remortgage?
Remortgaging is refinancing an existing loan secured against your property to secure a different loan with another mortgage lender. It provides a way for property owners to acquire better interest rates, secure additional cash or even consolidate debts. The benefits of remortgaging include lower monthly payments, switching from an expensive, standard variable rate (SVR) mortgage, reducing the duration of your mortgage term, and accessing additional funds for home improvements or other costs.
What Do I Need To Consider When Remortgaging?
When considering remortgaging, it is crucial to weigh up its potential costs, including valuation fees, exit costs and broker fees (not with Conran Mortgages). With careful planning, these costs can be minimal relative to the long-term savings that you can potentially make. Lenders may offer incentives, such as cashback, free valuations and free legals – this is relatively common. If you do it correctly and have some luck, a remortgage can be a great way to save money on your mortgage and improve your financial situation.
When Is a Good Time to Remortgage?
We advise you to speak to an Independent Broker up to six months before your existing preferred rate expires. An expert will know the market and advise you of your options. On occasion, it is worth waiting if the rates are likely to reduce or, in an increasing market, you might want to lock in with the proviso that if rates get cheaper, then you can jump onto the more reasonable rate before the transaction completes – most lenders will allow this and a good broker will be poised to do this for you.
What Is the Process of a Remortgage?
Remortgaging is easy and relatively stress-free, assuming you use an Independent Mortgage Expert. This visual on our webpage will demonstrate how your remortgage journey will look. On this page, you can complete ‘Step 1’ with your basic details; we will search the market and tell you the best deals available. At this time, you choose whether to start the process or wait.
How Soon or When Is the Latest I Can Remortgage?
Anytime up to six months before your existing fixed rate expires. If you do nothing, you will go onto a Standard Variable Rate (SVR) with your existing lender. If you don’t want to go onto this, then take action. We are confident of getting you a mortgage offer within two weeks, subject to your situation.
How Long Does It Take To Get My Remortgage Through?
Our clients get a mortgage offer within a few weeks, but sometimes it can be days. On the flip side, it can take months for the most complex cases. The first step is to converse with an Independent Mortgage Broker who knows their stuff.
I Am on a Fixed Rate, but I See Cheaper Products on the Market. Should I Remortgage Now?
If you are on a fixed rate, you will probably have a hefty redemption penalty to be released. The simple calculation is to determine this penalty and determine how much cheaper the new mortgage will be over the term. If you speak to a reputable and independent Mortgage Broker, they can guide you.
Is Remortgaging Right for Me?
It depends on your individual needs, financial situation, and goals. It can be beneficial if you’re looking to reduce payments or access equity in your home, but any decision should not be taken lightly as there are potential risks involved.
So, When Should I Not Consider Remortgaging?
If you are looking to change your mortgage type, then you don’t need to remortgage. For example, if you want to convert from an interest-only to repayment. The existing lender can do this for you, but we would be happy to be a sounding board to ensure this fits your financial goals.
If you are already on a great deal, there is no point in remortgaging. If you are looking to borrow more, then the lender may be able to grant a further advance.
If your existing lender has a redemption penalty, it is unusual for a remortgage to be beneficial. We will happily look at your current mortgage offer and advise you.
If you have a small mortgage or are close to repaying it, then the costs to implement a new mortgage with a new lender generally negate any savings.
How Can Conran Mortgages Help Me During the Remortgaging Process?
We scour the entire marketplace to hunt for the best rates to save you from doing this. Most of our clients have two goals: to save money and ensure they are on the cheapest rate and to ensure a stress-free transaction. We do a lot of remortgages and tick both boxes. We would love to help, you can contact us here