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Secure a Better Deal with Remortgaging

Discover the advantages of remortgaging with our expert insights and practical tips. Learn how to reduce your monthly payments, consolidate debt, or access equity. We provide everything you need to make informed decisions and secure the right deal for your financial future.

How Does a Remortgage Work?

Remortgaging involves switching your current mortgage to a new one, either with your existing lender or a different one. This is usually to secure a better interest rate or access equity.

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Assessing

The first step in the remortgaging process involves assessing your current mortgage and financial situation. This includes reviewing the terms of your existing mortgage, such as the interest rate, remaining balance, and any early repayment charges.

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Comparing Options

Once you've assessed your current mortgage and financial situation, the next step is to compare mortgage offers from different lenders. This involves researching and comparing interest rates, fees, and terms of various mortgage products.

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Application & Approval

After selecting a mortgage offer, you'll need to apply for the new mortgage. This involves submitting an application to the chosen lender, providing necessary documentation (such as proof of income, credit history, and property details), and undergoing a property valuation.

Your home may be repossessed if you do not keep up repayments on your mortgage

The Financial Conduct Authority does not regulate some forms of Buy to Lets.

Benefits of Remortgaging

Discover the financial benefits of remortgaging and take control of your homeownership journey.

Lower Monthly Payments

Remortgaging can potentially lower your monthly mortgage payments if you secure a new mortgage with a lower interest rate than your current one. This can free up extra cash each month for other expenses or savings goals.

Access to Equity

Remortgaging allows you to access the equity built up in your home over time. By refinancing with a higher loan amount, you can access a lump sum of cash that can be used for home improvements, debt consolidation, or other financial needs.

Flexibility and Better Terms

Remortgaging provides an opportunity to switch to a mortgage product with more favorable terms or features, such as a longer or shorter loan term, fixed or variable interest rates, or the ability to make overpayments without penalty.

Potential Savings Over Time

By securing a lower interest rate through remortgaging, you can potentially save money over the long term on interest payments. Even a small decrease in your interest rate can result in significant savings over the life of your mortgage.

Factors to Consider When Remortgaging

Explore the factors to consider when remortgaging your home and make informed decisions about your financial future.

Current Interest Rates

Compare current interest rates with the rate on your existing mortgage. If interest rates have fallen since you took out your mortgage, you may be able to secure a lower rate by remortgaging, potentially saving you money on interest payments over the life of the loan.

Remaining Term of Your Existing Mortgage:

Consider how many years are left on your current mortgage term. If you're nearing the end of your mortgage term, it may be a good time to remortgage to secure a new deal before reverting to your lender's standard variable rate (SVR), which is typically higher.

Early Repayment Charges (ERCs):

Check if your current mortgage has any early repayment charges(ERCs) for paying off your mortgage early or switching to a new lender. These charges can vary depending on the terms of your mortgage and may impact the cost-effectiveness of remortgaging.

Equity in Your Property:

Evaluate how much equity you have in your property. Equity is the difference between the current market value of your home and the outstanding balance on your mortgage. Remortgaging can allow you to access this equity for home improvements, debt consolidation, or other financial needs.

Think carefully before securing other debts against your home.

Consolidating debt may reduce your outgoings now, however you may pay more interest over your mortgage term.

Your home may be repossessed if you do not keep up repayments on your mortgage

What types of mortgages are available to you?

Fixed Rate
Mortgages

A fixed rate mortgage is a type of home loan where the interest rate remains constant and does not change during the initial term of the mortgage...

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Discount Rate Mortgages

A discount mortgage is a type of mortgage where the interest rate is discounted from the lender's standard variable rate (SVR) for a set period...

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Variable Rate Mortgages

A variable-rate mortgage is a type of home loan where the interest rate can fluctuate over the life of the loan depending on a chosen index...

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Tracker Rate Mortgages

The interest rate on a tracker mortgage tracks or follows movements in a chosen index, typically by a set margin above or below the index rate...

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Your home may be repossessed if you do not keep up repayments on your mortgage

The Financial Conduct Authority does not regulate some forms of Buy to Lets.

Start Your Mortgage Journey

Take the first step to purchasing your desired property today.

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Need some tools to support your remortgaging journey?

Repayment Calculator

Ready to take the guesswork out of your mortgage payments? Try our Mortgage Repayment Calculator now for quick and accurate estimates.

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Affordability Calculator

Curious about how much you could borrow for your dream home? Use our simple calculator to instantly gain clarity on your borrowing potential.

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Overpayment Calculator

Try our Overpayment Calculator to see how extra payments can save you time and money. Take control of your finances and pay off your mortgage sooner!

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Frequently asked questions

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See What Our Customers Say

We take pride in our customer service and are committed to providing you with the best possible experience. Here's what some of our customers have to say about us.

Jayesh Unka

Jayesh Unka

4 Weeks old

We recently completed the purchase of our new home and cannot thank Kishore enough for his support throughout the journey. What makes Kishore stand out is his patience, professionalism and commitment to his clients. Our house search took almost two years, and during that time we had several offers that unfortunately fell through. Despite the delays and setbacks, Kishore was always available to help, provide advice and update mortgage options whenever our circumstances changed. He was responsive, knowledgeable and took the time to explain everything clearly, making what can be a stressful process feel much more manageable. Nothing ever seemed too much trouble, and we always felt confident that he had our best interests at heart. Thanks to Kishore’s guidance and persistence, we have finally secured our new home. We would highly recommend him to anyone looking for a mortgage advisor who genuinely cares about his clients and provides excellent service from start to finish. Thank you, Kishore, for all your help and support over the past two years.

Orr Shachar

Orr Shachar

2 Months old

Super professional, friendly and helpful. Helped us securing a mortgage for buying our first house - we started the process knowing nothing about the British housing market and processes and the help and assistance we received along the way was amazing. couldn't ask for more :)

Hitesh Patel

Hitesh Patel

2 Months old

We had an outstanding experience with Kishore at Fairford Financial Services. From start to finish, the level of professionalism, knowledge, and genuine care he showed was truly exceptional. Kishore took the time to understand our situation in detail and guided us through every step of the mortgage process with patience and clarity. What really stood out was his responsiveness and dedication — no question was too small, and he was always available to offer reassurance and expert advice when we needed it most. He went above and beyond to secure the best possible outcome for us, and thanks to his hard work, what could have been a stressful experience felt smooth and well-managed throughout. His attention to detail and commitment to his clients is second to none. My family and I are incredibly grateful for everything Kishore has done for us. We wouldn’t hesitate to recommend him to anyone looking for a reliable, trustworthy, and highly skilled mortgage broker. Thank you again, Kishore — your support has meant so much to us!

Meera Mistry

Meera Mistry

10 Months old

Thank you, quick, fast and we got loads of advice for our first home. Really grateful and explained everything in good time too, especially if your self-employed which can be tricky for first time buyers.

Snr Genfi

Snr Genfi

3 Years old

Kishore Mistry is the absolute best mortgage advisor you can ever have on the market. This man really came through for my family with exceptional professional advice in our property acquisition. He is very attentive to detail and if you listen and work with him, you will end up excited as we are at the moment. I recall the times I had to bother him very late at night and on weekends and he still made time for me offering the best professional advice in securing the mortgage. Kishore, you are indeed a legend and it's been an absolute pleasure doing business with you. I will highly recommend him to any prospective buyer especially first time buyers.

guy derry

guy derry

3 Years old

Kishore was so helpful but importantly he was knowledgeable, real safe pair of hands and he got us the mortgage and he got us over the line with our purchase

Sunil Malhotra

Sunil Malhotra

4 Years old

Kishore Mistry had been ever so helpful. We are truly indebted to him as without you him definitely wouldn’t have got our foot through the door. His immense help through testing times has been our fortune and we count our blessings to have had his utmost support and advice along the way. There have been times where he made us think before taking certain steps which I believe benefited us in the grand scheme of things. Highly recommended.

Dave H

Dave H

4 Years old

I would thoroughly recommend Fairford Financial great personal service, quick response , my family have used for mortgage and life insurance

Sue Wright

Sue Wright

4 Years old

I would thoroughly recommend Fairford to anyone who requires a first time mortgage, re-mortgage and/or insurance policies. I have used Fairford services several times and they have recently also helped 2 other family members with their first property purchase. Kishore is most helpful and supportive throughout the whole process. A trusted financial service - 5 stars!

F Tailor

F Tailor

4 Years old

This is a great service. Very knowledgeable and super fast with responses. I was given a whole host of information which has been so helpful for me buying my first house. The process was very smooth. Thank you so so much!

NILESH JHALLA

NILESH JHALLA

4 Years old

The service I received from Fairford Financial Service was amazing. I can not speak highly of how easy the mortgage process was and the service was 5 star. I will recommend Fairford to all my family and friends and work colleagues. Absolutely great service and support throughout the whole process. This is one of the best companies I have ever used. Highly recommended.

Sunny Dhamii

Sunny Dhamii

4 Years old

Flawless service from start to finish. Kishore Mistry guided us through our mortgage options and saw us through the entire process. From the first time that we spoke with Kishore, he was approachable, understanding, personable and informative. Everything was explained clearly and precisely throughout. We were able to reach out to Kishore at any time and never faced a situation where we were unable to receive a quick response. Although in most instances, communication was initiated by Kishore anyway and we were consistently up to date with any progress on our case, big or small. We faced a couple of challenges with our house move. Firstly with having to withdraw from our originally planned purchase, due to the current homeowners not able to find a suitable onward move many months after accepting our offer. Secondly, with a down valuation on the property that we eventually did end up purchasing. Kishore was reassuring in both scenarios and empathised with our uncertainty and naturally, our disappointment. He guided us through the process of appealing the down valuation that was put forward by our lender. Without saying much more, we have now moved into our new home. Despite the couple of scenarios mentioned above, our house move felt very simple and stress free, due in large part to the service provided by Kishore. His knowledge and experience is second to none.

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5.0 rating from 12 reviews

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