Every client’s situation is unique. Remortgaging can make sense to find better deal, raise money to pay off more expensive debt, or raise money to pay for a home improvements.

A good example is if your current mortgage is on your lender’s Standard Variable Rate or your deal is about to expire: you may have a number of options to secure a better deal and save money.

Consolidating higher interest rate loans, for example credit card debt, may make sense to reduce your monthly payments - speak to an experienced broker to understand if this is helpful.

It’s important to consider whether you may be subject to Early Repayment Charges for leaving your current lender or existing deal. Your mortgage broker can help evaluate your options.

You may be able to remortgage on an existing arrangement; or if you are within 6 months of your current deal expiring; or have no early repayment charges applicable - a mortgage broker can provide bespoke advice. They will help assess whether you have sufficient income to support the level of borrowing required.

The recent actions from lenders indicate a general feeling of positivity about the future of the housing market as we move into 2022, with the expectation of seeing similar levels of transactions as the past year – which, perhaps to the surprise of some, saw the highest number of completions in 15 years!

If you’ve got 6 months left on a fixed rate, and you don’t want to pay an ERC (Early Repayment Charge) to switch to a new rate now, you can fix a deal 6 months in advance of the end of your rate with most lenders - this is possible as most mortgage offers are valid for 6 months. That way, if rates continue to decrease between now and then you can look at switching to a lower rate in that time. On the other hand, if rates continue to increase you’ll have secured your rate and won’t be affected by any impending rate increase in that time. A win-win in any outcome.

For those in a fixed rate with a year left or longer, wondering whether it’s worth paying an ERC (early repayment charge) to tie in for a new deal now - rather than reviewing in 6 - 9 months’ time when rates may have increased - you need to take into consideration the costs of this decision, the ERC percentage and other associated fees the lender may have for clearing the loan early.

It's best to speak to a broker if you’re in this situation. They’ll be able to establish whether the savings you’ll make by switching to a new deal early are worth the ERCs.

It depends! We would normally expect the mortgage application to be approved within a 2 to 3 week period and then you may need to allow a further 3 week period to complete the legal process. Some lenders are faster than others. If speed was a key concern for you, your mortgage broker may recommend certain mortgage providers to assist with a faster turnaround.

Lenders like to see that you have a good track record of meeting your financial commitments over the past 3 years however there are a number of lenders that will consider clients with bad credit. Your expert advisor will examine these providers according to your situation.