Renewing your mortgage – Whether you are currently on a fixed rate, a tracker, or your lender’s standard variable rate we can shop around and compare the various products available to you from the numerous lenders in the UK we work with.

Seeing what your current lender has to offer.

With your permission, our first port of call is to see what your current lender is offering you as an existing customer.

Firstly, we need to establish a couple of things such as the lender’s current valuation of your property and the outstanding balance of your mortgage.

The lender will have a valuation of your property on their system which comes from the House Price Index. The house price index gives a valuation of your property by working out an average sale price of comparable properties in your area over the last 6 months.

Once the above has been established it is now time to compare all the products on offer from your lender and calculate which are the cheapest available.

Product Transfer or Remortgage?

As with anything it is worth shopping around to see if a better product can be found elsewhere. This is exactly what we will do for you by comparing your existing lender’s products to those available with other lenders in the market.

If a better product is found with a new lender, then a remortgage application will need to be submitted to take advantage of the product and complete the remortgage/switch to the new lender. This will be an almost identical process to the purchase application that you initially went through and normally the new lender will take care of the conveyancing costs.

We advise getting the mortgage application submitted with any potential new lender at least 8 weeks before your current deal expires to leave enough time for the application and remortgage process to fully complete in time.

If you are an existing client, we will contact you up to 6 months before your current product expires to ensure we have plenty of time to find the best product for you.

On the other hand, if your existing lender is offering the best product then a product transfer application will need to be submitted. If you aren’t looking to borrow any additional funds or shorten your mortgage term a full application with credit and affordability checks isn’t required.

In this case with your permission, we just need to fill out some paperwork with the lender and inform them of the new product/rate you wish to take effect from the day after your current product expires.

Please be aware that remortgaging to a new lender is only possible if you meet the lender’s remortgage criteria along with affordability checks and credit scoring and worst case, we can just switch you to a new product with your current lender as per the above steps.

All the above is easiest discussed during a face-to-face meeting that can be conducted at your home, place of work or somewhere else of your choosing.