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Removing the stress from remortgaging
Whether your fixed term period is coming to an end or you simply want a better mortgage deal, Specialist Mortgage Advisers from Wesleyan Financial Services can help.
With access to mortgages from a panel of leading providers, we can take the stress out of remortgaging by finding the right deal for you. What’s more, we’ll manage your application every step of the way, offering impartial advice and specialist support at every stage of the process.
- Access exclusive deals from a panel of specialist lenders
- Receive expert advice on your remortgaging options
- Let us compare deals from a range of providers, saving you time and effort
- Benefit from professional mortgages tailored to you
Always remember your mortgage is secured on your home. Your home may be repossessed if you do not keep up repayments.
Wesleyan Financial Services (WFS) provides broker and advice services. WFS is paid a fee by the lender upon completion of the loan. Product fees may be payable to the lender.
Your route to remortgaging…
Speak to a mortgage expert
The first step is to speak to one of our Specialist Mortgage Advisers. They’ll guide you through the remortgaging process, answering all your questions and providing impartial advice at every stage.
Complete your application
Once you've found the right deal for your circumstances, your application can begin. Your adviser will manage the process from start to finish, keeping you updated as your application progresses.
Switch over to a new deal
Once your application is complete, you'll receive an official offer for your new deal. If you accept, your solicitor will handle the transfer of your mortgage from then on.
What might remortgaging mean for your monthly payments?
Our repayment calculator provides an indication of how much you might be paying back each month under your new deal, based on key details about your mortgage.
What our customers say
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Mortgage adviser has been excellent
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Thank you, mortgage adviser!
A guide to remortgaging
Still wondering whether finding a new deal is the right option for you? Read our comprehensive guide to remortgaging, for everything you need to know all in one place.
Learn more about:
- Getting the right deal for your circumstances
- Remortgaging to fix your monthly payments
- Taking advantage of your professional status
Frequently asked questions
If you’re remortgaging with a new lender, the process will normally take between four and eight weeks from when you apply. This is because your new provider will need to assess your affordability and complete a thorough property valuation, which typically takes up the most time.
If you’re remortgaging with your existing provider, the process will be much quicker. This is because there are no legalities involved with a product transfer, so you won’t need to provide the same amount of paperwork to support your application.
Yes, there are a number of options for borrowing more money when you remortgage.
If you’re remortgaging with your current provider, you can ask for what is known as a further advance on your existing mortgage. A further advance will allow you to increase the amount you owe to your current lender.
Most lenders will impose a minimum further advance amount of £5,000 to £10,000. The maximum amount you can borrow will depend on your financial circumstances and the amount of equity you have built up in your home.
If you’re remortgaging with a new lender, you can increase the size of your loan as part of the process. If this is the case, you will probably be asked what the additional money will be used for – for example, to fund home improvements or buy a second property.
Yes, you can. However, if you’re on a fixed-rate mortgage, you may be faced with an early repayment charge if you choose to remortgage before your fixed-rate period ends.
If this is the case, it may still be cost-effective to pay an early repayment charge to secure a lower rate sooner, but this will depend on your individual circumstances.
If you’re considering paying an early repayment charge, it’s a good idea to get advice from a Specialist Mortgage Adviser. They’ll be able to take the cost of the charge, add it onto your loan, see what the new rate is and provide you with a projected monthly cost.
If you’re remortgaging with your current provider, you won’t usually require a solicitor. This is because there are no legalities involved in the transaction.
If you’re remortgaging with a new provider, you will need a solicitor to assist with the legal side of things. This typically includes carrying out ID verification, property valuation, conveyancing searches and money laundering checks.
Yes. Like residential homeowners, many landlords remortgage their buy-to-let properties to find a better deal or fund refurbishments (for example, a kitchen or loft extension).
Remortgaging also offers the opportunity to generate the funds you need to expand your property portfolio. If this is the case, your lender will carry out a valuation of your existing properties to see how much equity you’ve built up. This will determine how much they can lend you.
Please note that most buy-to-let mortgages are not regulated by the Financial Conduct Authority (FCA).
Seeking advice from a mortgage broker isn’t a requirement when it comes to remortgaging, but it is highly recommended.
A specialist mortgage broker can provide expert advice on your remortgaging options, access reputable lenders to find the right deal for your circumstances and manage your application at every stage.