Specialist Remortgages

You can remortgage at any time, however you may have to pay an early repayment fee if you have not reached the end of your fixed rate term. Fixed rate mortgages can last for two, three, five or – in some cases – 10 years. Once that fixed rate ends, you will be placed on your lender’s SVR (standard variable rate), which will often have higher interest rates.

Remortgaging can help you secure better interest rates than those on a SVR.

Sometimes, it isn’t financially viable to remortgage. When you work with Mortgage Experience, one of our experienced brokers will look into your circumstances to see if it is worth your time and money. Early repayment charges can cost you several thousand pounds if you choose to switch to another lender. 

Using a specialist broker can help you remortgage if your circumstances have changed since you first applied. It is still possible to remortgage if you have a bad credit score, although traditional high street providers may be less likely to consider you. When you work with a specialist remortgage broker – such as Mortgage Experience – we pair you with an experienced specialist who can help you get access to lenders you won’t find elsewhere.

LTV (loan-to-value) refers to the size of your mortgage compared to the value of your property.

For example, if your property is worth £200k, and you have £150k remaining on your current mortgage, then your LTV is 75%.

Typically, the lower the LTV the better the deals.

When you first took out your mortgage, it would have been based on the value of your home at that time. With house prices in the UK generally increasing over the years, there is a good chance that your property has increased in value.

With house prices on the rise, you will likely have more equity in your home (reflected in the increase in valuation). But, how do you unlock that if you don’t want to sell?