Time to remortgage? Perhaps your fixed term rate is about to end and your rate is about to go up, or you’re looking to release some equity for a big purchase or just a bit of extra cash.
Whatever the reason, we've got the best way to remortgage your house or flat to make sure you get the best deal. And don’t sweat if you’re not sure what you’re doing – that’s what we’re for.
Follow these steps and you could be getting a quote 20 minutes from now – and completing your remortgage in days.
Here’s how to remortgage in 5 easy steps
Step 1 – Get prepared
Dig out all of your documents you can find about your current mortgage.
That’s your mortgage offer, the date you received the mortgage, fixed term expiry date, anything and everything like that.
Step 2 – The broker
Find a good mortgage broker. Not all are equal, in-fact the quality varies quite a bit.
We recommend an online mortgage broker as they are free, fast and search the whole market.
Here’s our criteria for a good mortgage broker:
Searches the whole market
The only way to find the best deal is to search every deal.
For a remortgage, it can be fairly straightforward, you can get it done fairly quickly with a broker who doesn't charge a fee. But if you want a more personal touch, that's fine too, you may just have to pay a fee, normally around £500.
Technology can search the market instantly now and everything can be handled online, so no need for any paperwork or hours being on hold! And you can still chat to the mortgage adviser via live chat if you have questions.
We’ve done the hard work for you however and rated the biggest mortgage brokers in the UK. View the results and ratings.
Step 3 – The work
Once you’ve picked a mortgage broker, the next step is to fill out a simple form with your personal and current mortgage information. This should take around 15 minutes if using an online broker.
Step 4 – The waiting game
Relax. Your broker will find the best mortgage for you and with your approval go ahead and get it for you as well.
Step 5 – The savings
Enjoy your savings – but don’t go nuts! Invest or save most of it.