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When you come to the end of your initial rate period your choices start all over again. It is your chance to change your whole mortgage.

The amount, the term, the rate type, maybe even the repayment method! So with this in mind it is important to properly review your situation.

That’s where we come in! We will look at what is available from your existing lender and compare it with all the other choices you have. Once we have reviewed your whole situation we’ll be able to recommend a solution for you that suits your new requirements.

Sometimes it will be best to stay with your existing lender and just swap to a new rate but you are sometimes limited if you want to make many other changes. Sometimes you will be best with a new lender as a new customer. Either way we will recommend the best solution for you and handle the whole process from start to finish

As this is a good time to be making changes it might be a good idea to think about whether you need to borrow any more for anything else, like home improvements. Alternatively, you may have some extra money to pay off some of your mortgage if you’ve been saving up!


Is it best to just stay with the same lender?

Sometimes it is, sometimes it’s best to go elsewhere. Some lenders offer really good rates for existing customers and some do not. We will look at both options for you though and let you know which is best. Don’t forget though you can’t normally make many other changes if you just stay with the same lender

Can I borrow more?

Depends on your situation. Whenever you move lenders it is a whole new application so it depends on your income and outgoings at the time. It also depends what your loan to value is, When property prices are going up, chances are you will have some room to increase a little if your affordability allows.

How long does it take to swap lenders?

We usually allow 4-6 weeks to be fully ready but it can be done much quicker than that depending on the lender. We also need a solicitor for this process but this is usually at little or no cost. Re-mortgaging is a much simpler process than moving house!

For more information please contact us today!


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