Remortgage – Frequently Asked Questions

Our award-winning mortgage brokers have been providing mortgage advice for many decades. In this time we’ve been asked multiple questions about mortgages, and remortgages are products that can be particularly confusing.

We’ve tried to cover some of the most frequently asked questions below. 

Do I need to wait for my current mortgage to end before remortgaging?
Not at all, in fact, we recommend that you start hunting for a new deal around 6 months before your current deal is due to end. 

Not doing so can leave you open to at least a couple of months paying more than necessary on the lender’s Standard Variable Rate. If you’d like to discuss options get in touch with our team on 0208 364 3444. 

Can I remortgage to buy a second property?
A rise in your property’s value means you could remortgage and raise more money to help pay for a second home or buy to let investment.

It is important you work with a mortgage broker. We can help you find the best deal for your remortgage as well as the purchase of your new property.

Can I remortgage inherited property?
Remortgaging an inherited property is usually not a problem as long as probate has taken place and you have become the legal owner of the property.

Lenders will sometimes insist that you have been the owner of the property for at least six months before allowing a remortgage, but we have access to many lenders that will make an exception to this rule where the property has recently been inherited. 

Can I remortgage to pay off debts?
Mortgages tend to offer lower interest rates than a personal loan, and are much cheaper than credit cards. Adding debts to a mortgage will allow you to spread repayment over the term of your deal – potentially decades, compared to the five or 10 years with a loan, or two years with a 0% balance transfer credit card.
However, this should be approached with caution as a previously unsecured debt is now secured on your home or property and you should keep in mind that you may be repossessed if you are unable to keep up with the payments. 

Our award-winning team prides itself on being able to source competitive mortgage deals and is always keeping abreast of new opportunities for our clients. If you would like to discuss how we can support you, contact our award-winning team on 0208 364 3444 or click the schedule a call back button below to book a time slot.

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