Unlock the Best Remortgage Options
With Expert Guidance
We offer whole of market Mortgage Advisers and we offer a 'Whole of Market' service, meaning we are able to compare rates from all lenders to find you the most suitable remortgage for your situation and your budget.
After checking the terms and conditions of your existing mortgage, we will advise whether you are tied-in to your mortgage deal or if there are any early repayment charges. You can then decide if it is worth switching to a different rate or stay put until the penalties have expired.
Broadly speaking, there are four types of mortgage that you can choose from:
- Fixed rate schemes - ideal for people who want to know exactly how much to account for their mortgage payments each month.
- Discounted loans - offer a reduction off the standard variable rate for a set period. The amount you pay each month will rise & fall with interest rates.
- Capped-rate loan - sets a limit on the rate you will pay. If rates rise, your payments will not go above that level but if rates fall below the cap so will your repayments.
- Flexible mortgages - allow you to overpay and underpay (certain conditions may apply with regards to underpayments) without penalty. This is ideal for people who have fluctuating incomes or who want to clear their mortgage early.
Whatever your reason for remortgaging, we can help find the ideal solution for your needs. Call our Mortgage Advisers on 01172 510544 or contact us using the form here, and one of our Remortgage experts will be in touch to arrange your free initial consultation.
Many of us are looking for a better mortgage deal, but the process is often not as easy as it first appears...
So what do you need to know before you look at the options available?
In the first instance you may be inclined to just stay with your current lender as that probably seems the easiest and most hassle-free way forward. If you are thinking this, we would urge you to make contact and at least have the opportunity to review the whole market before you commit to a new rate with the current lender. Most lenders will offer good incentives if you move such as cashback to cover the legal costs and a free valuation of your property. If you decide after assessing the options, that you prefer to stay with the current lender, then you nothing to lose apart from your time looking.
If your mortgage rate is due to expire within the next 6 months or so then drop us a line.
We will work with you to check the terms and conditions of your existing mortgage. These will tell if you are tied-in to your mortgage deal or if there are any early repayment charges. We will ensure that the remortgage takes affect from the date the early repayment charges end.
Remortgaging FAQs
If you’re considering remortgaging, you likely have questions. At Mellow Financial, we’re here to provide clarity. Here are some frequently asked questions about remortgaging:
What can we offer you?
CONTACT USAs a company we act completely independently and have access to thousands of mortgage products from a huge range of lenders, we also provide a wide range of re-mortgage offers with some special features:
- Market leading re-mortgage deals available.
- The ability to raise extra monies to clear credit cards and loans.
- Low fee products available.
- The ability to raise capital for most purposes
Whatever your mortgage requirements, we are certain our advisers can find the mortgage for you.
Is remortgaging a good idea?
Recent market figures show a significant surge in remortgaging activity, with borrowers seeking to lock into fixed-rate deals as interest rates rise.
Our expert advisers at Mellow are often asked what remortgaging involves and whether or not it’s a good idea.
We’d love to help you to understand more in person, so please don’t hesitate to get in touch with our Bristol office for a chat!
What is remortgaging?
Remortgaging is simply the process of switching your existing mortgage to a new lender and deal. As part of this process, you might also decide to increase the size of the loan.
Why should I remortgage?
There are several benefits to remortgaging:
- Lower interest rates: Save money on monthly payments by securing a lower rate.
- Access equity: Release cash from your home for renovations, debt consolidation, or other needs.
- Better terms: Change to a more flexible mortgage with features that suit your current circumstances.
When is the best time to remortgage?
The best time to remortgage depends on your situation. Many people choose to remortgage when their current deal ends to avoid reverting to their lender’s standard variable rate (SVR). However, if rates have dropped, it might be worthwhile to consider remortgaging before your current deal ends.
How much does remortgaging cost?
CONTACT USRemortgaging costs can include:
- Valuation fees: Some lenders require an appraisal of your property.
- Legal fees: Depending on your situation, you may need a solicitor to handle the paperwork.
- Early repayment charges (ERCs): If you’re switching before the end of your current mortgage term, your lender may charge a fee.
However, some lenders offer fee-free remortgage deals or will cover certain costs, so it’s worth comparing options. Contact us today and we can go through the best options for you.
How long does remortgaging take?
The process can typically take 4-8 weeks, depending on your lender and individual circumstances. Starting early and being prepared with the necessary documentation can help speed up the process.
Can I remortgage with bad credit?
While it’s more challenging, it’s not impossible to remortgage with bad credit. Some lenders specialize in working with individuals who have less-than-perfect credit. We can help you explore your options and find the best possible deal for your situation.
Do I need to use a mortgage broker to remortgage?
Using a mortgage broker is not mandatory, but it can be highly beneficial. We have access to a wide range of lenders and mortgage products and can help you find the best deal for your needs, saving you time and potentially money.
What documents do I need for a remortgage?
Typically, you’ll need:
- Proof of income: Payslips, bank statements, or tax returns.
- Property details: Recent mortgage statements and property valuation.
- Identification: Passport or driver’s license.
Having these documents prepared will make the process smoother and faster.
What happens if I don’t remortgage when my deal ends?
BOOK A CONSULTATIONIf you don’t remortgage, your mortgage will usually move to your lender’s standard variable rate (SVR), which tends to be higher than your fixed or tracker rate. This could lead to higher monthly payments.
Have more questions or ready to explore your remortgaging options? Contact Mellow Financial today to book a consultation with one of our expert advisers.
How can we help?
GET IN TOUCHAt Mellow Financial, we’re keen to help as many people as possible by making sure that our customers have the best mortgages available for their own unique circumstances.
We can help you to decide whether or not remortgaging is a good idea for you, and find the best deal possible if it is.
We have access to a comprehensive range of mortgages from across the market and can also review your other financial protection plans, such as life insurance and income protection.
So, even if you’re not sure whether or not to pursue remortgaging, you can get in touch for a free initial meeting - either at our Bristol offices, by phone, video call, or in your own home. We can help you to understand the best way forward, and there’s no obligation should you decide to stick with your current deal.
We look forward to finding out how we can help you! Don't stress, keep Mellow!
Meet The Advisers
Mellow Financial Ltd is registered with the Data Protection Act 1998 registration No. ZB649453 and is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 1011568 an Appointed Representative of TMG Direct Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number: 786245 and registered with the Data Protection Act 1998 Registration No: ZA178200.
Think carefully before securing debts against your home. Your home may be re possessed if you do not keep up repayments on a mortgage or any other debt secured on it. The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.