So you know what you’re doing when it comes to mortgages and perhaps remortgaging - you’ve been there and done it before.
Good! You should know how easy it is to remortgage and that all lenders are not the same. But our advice is not to look for the best remortgage lenders yourself.
Why you shouldn’t be looking for the best remortgage lenders yourself
It’s a great idea to search for the best remortgage lenders – but our advice is not to do this by yourself.
Searching mortgage comparison tables is a good idea to get an insight into what the current rates are, but comparison tables are gamed by the lenders with low introductory rates (the fixed rate part of your mortgage – typically the first 2 or 5 years of a mortgage). And are compensated with high arrangement fees, and high standard variable rates (SVR) – the rate which your mortgage will revert to after this introductory period.
You cannot determine if a mortgage is good or not by the rate alone. You need to assess all the costs involved, sometimes called ‘total cost’ of a mortgage.
And for that, we recommend using a mortgage broker who searches the whole market to simply search for you.
It’s super easy for them to do, as they have access to the software and technology required, which you cannot access, plus they can also search mortgage deals only shown to intermediaries (brokers).
What’s even better - some don’t charge you a fee at all, meaning no downside for you.
The best remortgage lenders for you
We could list all the best remortgage lenders – but really, it’s not about which are the best lenders, it’s which are the best for you.
And that is all down to your personal circumstances and mortgages currently available in the market.
With our advice of using a mortgage broker to do this for you, there’s no commitment to use the broker after you get the mortgage quote, no credit checks until you apply, and no fees if you use an online broker.
Plus, it can also only take 15 minutes to get a quote if you use an online broker. It’s a win-win for you; a guaranteed best deal and time saved searching yourself.