How do I remortgage?
Here's everything you need to know to remortgage.
Last updated on
May 23, 2022 11:46
It normally takes around six weeks to switch to a new mortgage deal with the same lender. If you’re applying to switch lenders, it’ll take longer.
To avoid frustrating delays, start looking into it in advance – roughly eight weeks to three months before your current rate expires is ideal. Don’t worry, you won’t have to switch the second you’re approved. A successful mortgage offer usually comes with an expiry date of 3 months, so you can take more time if you need to.
Here’s a rough timeline for finding and securing a remortgage deal:
Missing paperwork can really hold up a remortgage, so try to have everything ready before you start. You’ll find you need a lot of the same documents as you did for your first mortgage.
You’ll need high-res scans of these documents:
Here’s a full list of the documents you’ll need.
You’ll also need to know some details about your mortgage:
You can find these by checking your mortgage statement or the original mortgage paperwork.
It depends. If you stick with the same lender for your remortgage, you’ll almost certainly make savings on time – but just like staying with the same energy or insurance provider, it may not be the best deal for you in the long term. If you’re not sure, it might be a good idea to talk to a mortgage broker.
What you’ll pay when buying a home, from your deposit and mortgage fees to legal costs, home surveys, stamp duty, and removal and storage.
Looking to borrow more money by releasing equity? Here's all you need to know and how to remortgage to release equity.
Here we’ll explain when you can remortgage, when you should start the process, and share a few examples of when it might not make sense.
Habito specialises in helping you get the best mortgage or remortgage, all online, for free