Your existing lender may not be offering you the best deal, it's always best to search the market.
Your current lender is not likely to be offering you the best deal available, switching providers offers you the ability to choose lower rates and save money each month.
If you are looking to improve your home whether it be by adding a conservatory or replace that ageing kitchen, remortgaging is great way to achieve this by borrowing extra money on a lower rate than a loan*.
Borrowing extra money on your mortgage is often a more cost effective way of borrowing than utilising a bank loan*, remortgaging can allow you to reorganise your finances and reduce your monthly payments.
Switching providers will often offer you savings each month, sometimes however it is possible to offset the savings each month by reducing the term of the mortgage instead, meaning you could be mortgage free earlier.
*Whilst this could reduce monthly payments, it may mean you pay more over the long term, so should be carefully considered.
Once we have recommended a mortgage product to suit your needs and we have received all documentation required, we will submit your application to the lender.
Some lenders will run an online valuation, some will send a valuer to see your property. Once this stage is complete the lender will move on to the next stage.
This is the stage where the lender will make a formal offer to you. You'll need to start sending documents back at this point..
The solicitor will also receive an offer pack from the lender, they will carry out the land registry searches and send out legal documents for you to sign. We can collect all of these documents and liaise with the solicitor for you.
This is the exciting moment that your mortgage switches to another lender, you may get a better rate, you may even be receiving some cash from released equity.