Step 1

Get your property valued

It’s important that we understand how much your property is worth before we assess how to move forward with a remortgage.

  1. Most local estate agents will offer a free no obligation valuation for a remortgage
  2. Book a local estate agent to come out and give you an up to date valuation for the purpose of your remortgage,  along with their selling fees

Step 2

Investigate your options

Time to speak to a Mortgage Mentor to find out if it makes financial sense for you to remortgage. Your Mortgage Mentor will:

  1. Ask you some questions about what your looking to do in relation to your remortgage and take down some details on your income, expenditure and property
  2. Give you advice on the best way to proceed and search for the best mortgage deals on the market (including looking at your current lender)
  3. Recommend the most suitable mortgage and protection package

Step 3

Apply for your mortgage

Time to submit the mortgage application to the lender. Don’t worry we’ll handle this part of the mortgage process for you.

  1. Apply for your mortgage and protection
  2. Send off all your documents to the mortgage lender for them to review
  3. Provide documents to the bank to verify your income and outgoings
  4. Instruct a valuation on your property

Step 4

Mortgage offer

The importance of dotting the i’s and crossing the t’s make sure there isn’t a stone left unturned on your mortgage application.

  1. After the lender has looked over your documents and valuation they will issue a mortgage offer
  2. A copy of the mortgage offer will be sent to us, the solicitor and  to you
  3. We will review the mortgage offer with you to make sure you’re happy with it all

Step 5

Completion!

This means the new mortgage is yours and your new deal goes into force.

  1. Your solicitor will check the mortgage offer and find out your outstanding balance from your existing lender
  2. The solicitors will simultaneously draw the funds from the new mortgage lender and pay off your existing mortgage lender*
  3. *If you’re overpaying on your mortgage, they will request the additional funds from you or if you’re left with a surplus they will ask for an account to transfer the funds to

The next mortgage steps

OK – now we’ve given you a rundown of what’s involved in remortgaging, the next step is to find out if it’s worth it or not. Time to speak to an expert who’ll find out more about your circumstances and give you some advice on the best way for you to proceed with a remortgage. If it doesn’t make sense for you to do so, we’ll tell you exactly that. We would never advice you to do something that wasn't in your best interests. Please call us now to speak to a mortgage expert today completely FREE of charge on:

01206 688568