Looking to switch to a better rate, release equity from your property, or consolidate debt? Our expert advisers will help you find the right remortgage solution.
Re-mortgaging can save you money and provide financial flexibility. Here's our step-by-step guide to securing a better mortgage deal.
Review your existing mortgage terms, current interest rate, remaining term, and any early repayment charges. We'll help you determine if re-mortgaging is the right option for you.
Gather your income proof, bank statements, and property details. We'll guide you through what lenders require and help you prepare a strong application.
Most re-mortgages require a new valuation of your property. This helps determine your current loan-to-value ratio, which affects the rates available to you.
We'll compare options from across the market to find the most competitive rates and terms suited to your needs, whether you're looking to reduce payments or release equity.
We'll handle the legal work and liaise with both your current and new lender to ensure a smooth transition with minimal hassle for you.
Re-mortgaging can save you money and provide financial flexibility. Here's our step-by-step guide to securing a better mortgage deal.
Review your existing mortgage terms, current interest rate, remaining term, and any early repayment charges. We'll help you determine if re-mortgaging is the right option for you.
Most lenders require at least 5-10% of the property value as a deposit. Government schemes like Help to Buy and Lifetime ISAs can help boost your savings.
Gather the relevant documents, and we'll guide you through what lenders require and help you prepare a strong application.
Check your credit score, gather necessary documents, and understand your budget. We'll help you prepare for the mortgage application process.
Most remortgages require a new valuation of your property. This helps determine your current loan-to-value ratio, which affects the rates available to you.
With a mortgage in principle, you can start viewing properties within your budget and make offers with confidence.
We'll compare options from across the market to find the most competitive rates and terms suited to your needs, whether you're looking to reduce payments or release equity.
Once your offer is accepted, we'll guide you through the legal process, surveys, and final mortgage application to completion.
We'll liaise with both your lender and solicitor to ensure a smooth transition with minimal hassle for you.
Congratulations! You've completed your purchase and can now move into your first home. We'll still be here for any future mortgage needs.
There are several reasons why re-mortgaging might be beneficial for you. Here are some of the most common:
You don't want to pay the lender's variable rate.
Switch to a better rate than your existing mortgage and save on your monthly payments.
You wish to release some equity from your property.
Consolidate your debts into one manageable monthly payment.
Change your mortgage type to better suit your current needs.
For projects or events e.g. home improvements, a wedding or property development.
Find a mortgage that better suits your current lifestyle and needs.
The timeline for remortgaging varies significantly depending on your situation. Staying with your current lender (a "product transfer") can be remarkably quick and straightforward, often completed within 1-2 weeks. However, switching to a new lender typically takes 6-10 weeks due to additional paperwork, property valuations and legal requirements.
Friends Capital Tip: "To avoid potential payment increases, begin your remortgage search 4-6 months before your current deal expires. This provides ample time to explore options and complete the process without rushing."
Friends Capital have established relationships with remortgage lenders across the market. We can search the entire market and get access to the best and most exclusive deals available. Then we will choose the deal that is most appropriate to your personal circumstances. We can:
Our experienced mortgage advisers understand that everyone's financial situation is unique. We'll take the time to understand your needs and goals to ensure we find the most suitable remortgage solution for you.
Our expert advisers are ready to help you find a better deal, release equity, or switch to a mortgage that better suits your current needs.
Fill in your details for a quick callback from our team