Remortgage

Remortgaging done right

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Whether you require additional funds, your current mortgage deal is expiring, or you simply want to secure a better interest rate, we are here to help. Our team will handle the all of the groundwork and expedite the process for you.

We understand that the process of getting a new mortgage can be complex, but don’t worry, we are here to guide you every step of the way. At Breeze, we’ll take care of most of the work for you, making remortgaging your home as simple as possible. By understanding your individual circumstances, we’ll search the entire mortgage market to get the best mortgage for you.

Apply online now or get in touch for a friendly chat with an expert.

You may have to pay an early repayment charge to your existing lender if you remortgage.

Your home or property may be repossessed if you do not keep up with repayments on your mortgage.

How much can I borrow?

How much will my mortgage cost?

How much equity do I have in my property?

Remortgage guide:

couple researching on laptop

1. Get started

To start your remortgage journey, you can either fill out our online form with your details or give us a call at 01225 258900.

Pro Tip:

Making sure your current address is up to date and correct on your payslip, bank statements and driving license will help the lender correctly identify you and reduce additional document requests.

wage slip

2. Gather your documents

Make sure you get all your personal and financial paperwork together beforehand – it will be key for your mortgage application.

The type of documents required vary for each application, but usually underwriters would ask for 3 months payslips as well as 3 months bank statements. If you have these readily available from the outset, it will help us process your application.

remortgage

3. Choosing the right mortgage for you

There are many mortgage options out there to choose from, but here at Breeze we will work with you to understand your unique circumstances so we can advise you on the best option that will be tailor fitted for your needs.

If you seek mortgage guidance from your existing bank, they will only propose their own rates. However, at Breeze Mortgages, we will compare offers from across the market – always looking to find the best possible deal for you.

saving money

4. What are the costs involved?

When switching your mortgage to a new lender, there are typically several costs involved, such as an arrangement fee for setting up the mortgage with the new lender, as well as potential fees for valuation and legal services. Additionally, you may have to pay an exit fee to your current lender.

While certain fees can be included in your mortgage balance, it’s important to bear in mind that you’ll be paying interest on them. If you decide to pay these fees upfront, it’s important to ensure that you have budgeted for them accordingly.

Fortunately, many remortgage deals now offer low or sometimes no setup costs. As part of our advisory service, we always evaluate whether any new deal is worthwhile based on factors such as the interest rate, fees, and overall cost for the mortgage term.

We can assist you in calculating how much you can allocate each month towards mortgage repayments by assessing your income and financial commitments.

Pro Tip:

Whilst it may be tempting to stretch out your mortgage term to the longest possible number of years to reduce your payments, the longer your mortgage term is, the more interest you will have to pay over time. Shortening the mortgage term by even a couple of years could save you thousands of pounds in interest over the term.

remortgage application

5. The recommendation

Following our assessment, we will present you with our recommendation for the ideal mortgage to suit the needs of you and your family. This will provide comprehensive information about the mortgage, including monthly costs and any associated fees.

mortgage applicaiton form

6. Submitting your full mortgage application

We can handle the submission of your application on your behalf, sparing you the burden of filling out lengthy application forms or appointments in branch. We can gather the required information from you over the phone, plus we will send any essential supporting documents to the underwriter to enable them to assess your case correctly.

Your new lender will evaluate both you and the property (via a valuation) before providing a formal mortgage offer. We will communicate with the lender during this phase to ensure that the process runs as seamlessly as possible for you.

7. A mortgage offer is made!

Once your mortgage offer has been issued, you should double check the information the lender sends you and make sure everything is as expected before you complete. If you are unsure of anything, please don’t hesitate to contact one of our friendly experts to help you.

In addition, there are legal procedures to be followed. For a remortgage, lenders usually engage their own solicitors or conveyancers, but if you need to select one, we can provide recommendations. The solicitor will arrange the completion of your new mortgage product, typically when an early repayment charge ends.