Remortgages

October 7, 2021

No matter what your reasons are for wanting to remortgage, The Official Mortgage Company will help with finding the best deal

What is a remortgage?

A remortgage is when you change from your existing lender to a new lender whereas a product transfer is when you change to a new product with an existing lender. This may be done for various reasons. You may be looking to raise additional money for other purposes such as debt consolidation, home improvements, a deposit for a property purchase or if your existing lender is unable to assist.

With a remortgage the new lender usually offers a free standard valuation of your house / property and will nominate a solicitor to deal with the legal formalities at no cost to you (unless the names on the mortgage have to be amended).

Remortgage with The Official Mortgage Company

Once you are close to the end of your mortgage term, we advise that you look at remortgaging. We will look at your current deal and find a way to help you remortgage by switching to one with more favourable interest rates. Our existing clients are always contacted at least three months before their remortgage is due, giving us time to ensure that they receive the best advice possible and as a result the best deal for their remortgage.

We aim to make the remortgage process as simple and stress free as possible and from the moment you contact us, we will ensure that you are guided through the remortgage process with regular updates on your application. So, if you are looking to remortgage, please contact us today.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Debt consolidation is not always the most suitable option and consolidating debts must be carefully considered. It will usually mean more interest over a longer repayment term and there may also be early repayment penalties on your current mortgage, so you should think carefully before securing other debts against your home. You can find out more by contacting the Money Advice Service http://www.moneyadviceservice.org.uk/en/articles/where-to-go-to-get-free-debt-advice.

Need help starting the remortgage process?

Speak to one of our remortgaging specialists, who will be more than happy to help

01777 809700

    Should I remortgage with a new mortgage lender?

    We advise every client to let us look around first before committing to the same lender when looking to remortgage. There could be hundreds of better deals with lower rates out there, so don’t remortgage with the same lender just because it’s the easier approach. Keep this in mind as often lenders don’t reward loyalty; in fact, we have seen that they often offer better deals to new customers rather than customers looking to remortgage, who have been with them for several years!

    What a remortgage can do for you

    • Home improvements
    • Debt Consolidation
    • Purchase a secondary property
    • Help children with deposit for their first home
    • Raise money for other projects
    • Get a more competitive rate

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