Remortgage
Remortgaging could help you lower your monthly payments, get a more competitive interest rate, or release equity from your property. Find your next mortgage deal with our expert advice.
What is a remortgage?
Remortgaging allows you to switch up your mortgage to better suit your plans and finances. It’s usually done when you’re coming to the end of your fixed-rate term, but it can be used in other situations too.
We help homeowners like you remortgage at the right time onto the right product.
Why remortgage?
- You may be approaching the end of your current fixed rate mortgage
- You’re on a tracker mortgage or your lender’s Standard Variable Rate (SVR) and want to reduce your monthly payments
- You want to release equity from your property to pay for home improvements, purchase a buy-to-let property, fund a holiday, buy a car, or cover other large expenses
- You want to shorten your mortgage term so you can become mortgage-free sooner and reduce the overall amount of interest you pay
- You want to consolidate other debts to reduce the financial burden each month
Remortgaging FAQs
Can you remortgage during a fixed term?
Yes, you can usually remortgage during a fixed-rate period, but it will likely result in an early repayment charge. This fee can increase the total cost of switching, so it’s important to review the numbers carefully with our advisers. We’ll help you work out whether it’s actually a cost-effective move.
How soon can you remortgage before the fixed rate ends?
We usually recommend assessing your remortgage options around 3 to 6 months before your current rate ends. Starting early gives you time to assess your finances and make sure your new mortgage deal is ready in time, so you are not automatically moved onto your lender’s Standard Variable Rate.
Can you remortgage with the same lender?
Yes, you can. This is called a product transfer. Your current mortgage provider may offer a new deal when your existing mortgage term or fixed rate ends. It can be a quick and easy option, but it doesn’t always give you the most competitive rates available. That’s why it’s important to work with our brokers who have access to the whole market, so you have plenty of options to pick from.
Can I remortgage with a bad credit score?
Remortgaging with bad credit can limit your options, but it is still possible. We tailor our mortgage advice to each case. So if you come to us with a complex credit history, we can explore lenders with products designed for your situation. We’ll talk through your options and find a tailored solution that works for your situation.
How do I release equity for home improvements?
If your property value has gone up since you first got your mortgage, you may be able to borrow additional money against the value of your home. Many homeowners use this to fund home improvements, renovate their property, or invest in other opportunities. We help you release equity in the most practical way while keeping your loan affordable. By reviewing your loan-to-value and finances and conducting some affordability checks, we can then recommend the best way forward.
What are my remortgaging options?
When you remortgage, the options are endless. Some homeowners opt for a fixed-rate mortgage to lock in their interest rate and keep monthly repayments predictable. Others consider tracker or variable mortgage products, depending on their attitude to risk. We explain how each option works and the potential total cost of the mortgage over time, so you can choose a deal that fits your situation.
Remortgaging with Bennison Brown
Remortgaging doesn’t have to be complicated or stressful. We take the time to listen to what you need before recommending a new deal. Whether you’re hoping to reduce monthly payments, release equity from your property, or switch to a more suitable product, we’ll guide you through your options.
Switching to a different lender?
Most of the time, the best remortgage deals come from a different lender rather than your current mortgage provider. We make this easy by comparing rates from lenders across the market to see whether switching to a new lender could reduce your monthly mortgage payments or get you a better rate.
Get in touch to talk about switching to a new lender.
Our Services
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First Time Buyers
Helping first time buyers get onto the property ladder
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Remortgage
Find your next mortgage deal with our expert advice
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Healthcare Professionals
Tailored mortgages for healthcare professionals
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Self-Employed
Self-employed mortgages, designed for individuals who work for themselves
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Contractor Mortgages
Helping contractors secure the best mortgage deal
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Professional Mortgages
Designed for individuals in certain careers such as doctors, accountants & architects
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Buy To Let Mortgages
achieve your financial goals and provide greater security for your future
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Buy To Let Remortgages
Helping buy to let landlords find the best remortgage deal
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Portfolio Landlord
Tailored solutions to help landlords grow, manage, and optimise their portfolio
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New Build Mortgages
Mortgages for purchasing a newly built or extensively renovated property
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Shared Ownership
Make homeownership accessible with shared ownership mortgages
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Protection
Financially protect those you care about most
What happens next?
Getting started is simpler than you might think. When you contact Bennison Brown, we’ll guide you through the process step by step so you know exactly what to expect. Here’s how it works:
Your new mortgage is ready
When the process completes, your new mortgage replaces your existing one. From that point on, you simply make your new repayments on your mortgage based on the agreed deal.
A quick conversation
We start with a relaxed conversation about your current mortgage and what you would like to achieve by remortgaging. This helps us understand your situation and explore your options.
We search the market for you
Our advisers compare remortgage deals from across the market, giving you multiple options. We explain the details like costs, fees, and logistics so you can make an informed choice.
We handle the application
Once you’re happy with a deal, we’ll get the ball rolling. We take care of the paperwork, communicate with the lender, and keep you updated the whole way through.
Let us guide you
Download our step by step guide
Mortgage FAQ
Quick answers and mortgage calculator
About Us
Find out more about the Bennison Brown team
Organise a free consultation with our mortgage advisers
Leave us your details or give us a call on 0207 427 6067
Or email enquiries@bennisonbrown.co.uk
We look forward to speaking to you soon. We don’t use your details for marketing, only to get in touch and speak to you about your requirements.