Remortgaging

Borrowers consider remortgaging for various reasons. Often, the purpose involves saving money. After the existing deal ends whether the product is fixed, tracker or capped your rate may be higher therefore higher monthly payments. We will search a comprehensive mortgage panel to find you the most appropriate deal at the time. Ideally you should start looking for a new product 2-3 months before your existing deal runs out. Remortgaging can also involve borrowing additional funds for home improvements or debt consolidation. We will advise you of the benefits and drawbacks for choosing this option.

Obtaining a remortgage is fairly simple. Generally, the process is straightforward and similar to obtaining any other mortgage. The new lender will underwrite the full application and then issue the full mortgage offer.

There are certain fees involved in a remortgage. Basic valuation is required by the new lender to find out the current value of your property. Often, borrowers are required to pay valuation and legal fees but certain deals do come with free valuation and free legal costs. There may also be an arrangement fee by the lender. The amounts charged for a remortgage vary from lender to lender. We will provide you with the full illustrations at the time.

In general, a remortgage can be accomplished in four to six weeks or less. The length of this process depends on the lender and the specific circumstances surrounding the property being remortgaged.


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 OTHER DEBT SECURED AGAINST IT.

'Securing short term debts against your home could increase the term over which they are paid and therefore increase the overall amount payable.'

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

A BROKER FEE OF £298 WILL BE CHARGED ON APPLICATION. THIS FEE WILL BE FULLY REFUNDED IF THE APPLICATION IS DECLINED.


Ignite Financial Services Limited is registered in England and Wales, company registration number 6910151. The registered address The White House, Mill Road, Goring on Thames, Reading, Berks RG8 9DD. Ignite Financial Services Limited is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading name of First Complete Ltd which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products. The Financial Conduct Authority does not regulate some forms of Buy to Let.

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.