Remortgages

Review your mortgage with clear, personal advice

Your mortgage may have suited your circumstances when it was originally arranged, but that does not necessarily mean it will remain appropriate forever.

Your current deal may be approaching its end. Your income, family or future plans may have changed. You might want to improve your home, change the mortgage term or consider whether the features of your existing mortgage still meet your needs.

A remortgage is an opportunity to review the complete position.

At Moveo Mortgages, we’ll take the time to understand:

• your existing mortgage

• when the current deal ends

• your outstanding balance

• the value of your home

• your income and commitments

• your reasons for reviewing the mortgage

• your plans for the property

• the monthly payment you feel comfortable maintaining

We’ll then research suitable options within the scope of our service and explain whether we believe remaining with your current lender or moving to another lender is the more appropriate route.

We won’t assume that switching automatically saves money or that the lowest advertised rate is the best choice.

Product fees, early repayment charges, valuation, legal work, flexibility and your future plans can all affect the outcome.

Our aim is to help you understand the available options and make an informed decision without unnecessary jargon or pressure.

Move forward with Moveo.

Helping you make informed mortgage decisions with confidence.

Book your mortgage review
Internal link: Booking page

Find the Information You Need

Use the links below to move directly to the section most relevant to you:

• What is a remortgage?

• What is a product transfer?

• When should you review your mortgage?

• Why do homeowners remortgage?

• What happens when your current deal ends?

• Staying with your lender or switching

• How equity and loan-to-value affect your options

• The costs of remortgaging

• The remortgage process

• What documents might you need?

• Remortgaging after your circumstances change

• Choosing your next mortgage

• Changing the mortgage term

• Borrowing more for home improvements

• Further advances and second-charge mortgages

• Remortgaging to consolidate debt

• Remortgaging when you plan to move

• Low equity and negative equity

• Interest-only mortgages

• Buy-to-let remortgages

• Reviewing your protection

• Why choose Moveo Mortgages?

• Frequently asked questions

Add anchor links where supported by your website platform.

What Is a Remortgage?

A remortgage is the process of replacing the mortgage on your current home with a new mortgage from a different lender.

You remain in the same property, but the existing lender is repaid and the new lender takes security over the home.

A remortgage is different from:

• moving to a new mortgage product with your existing lender

• taking additional borrowing from your current lender

• taking a second-charge mortgage alongside your existing mortgage

• moving your existing mortgage to another property

MoneyHelper defines remortgaging as obtaining a new mortgage from a different lender while remaining in your current home. Moving to a new product with the existing lender is generally known as a product transfer.

People commonly remortgage when:

• their current fixed or discounted deal is ending

• they want to compare their lender’s offer with the wider options available

• their property has increased in value

• their circumstances have changed

• they want different mortgage features

• they want to adjust the mortgage term

• they are considering borrowing additional funds

• they want to review an interest-only arrangement

Remortgaging is not automatically beneficial.

The new mortgage must be assessed alongside the costs of leaving the existing deal and arranging the replacement mortgage.

What Is a Product Transfer?

A product transfer is when you move to another mortgage product with your existing lender without changing mortgage provider.

Your current lender may offer a selection of new rates as your existing deal approaches its end.

Depending on the lender and the change being made, a product transfer can sometimes involve:

• less paperwork

• no new legal work

• no external property valuation

• a simpler application process

• no full affordability assessment

This cannot be assumed in every case.

A product transfer may be particularly useful where:

• your current lender’s offer is suitable

• you are not increasing the borrowing

• your circumstances make switching lenders more difficult

• the costs of remortgaging outweigh the potential benefit

• you want a relatively straightforward route to a new deal

However, convenience alone does not mean the product is right for you.

We’ll compare the relevant product-transfer options with suitable remortgage alternatives and explain the overall differences.

When Should You Review Your Mortgage?

You do not need to wait until your existing deal has ended.

It is often sensible to begin reviewing your options several months before the expiry date.

Many homeowners start approximately six months before their fixed or discounted deal is due to end, although product availability, offer-validity periods and lender processes vary. MoneyHelper recommends beginning the review up to six months before the existing deal reverts to the lender’s standard variable rate.

Starting early can provide time to:

• understand the current mortgage

• check for early repayment charges

• compare your lender’s product-transfer options

• research remortgage alternatives

• gather supporting documents

• address issues affecting affordability or credit

• obtain a mortgage offer before the existing deal expires

• reconsider the recommendation if suitable products change

Can You Arrange a Mortgage in Advance?

Potentially.

Some lenders allow a remortgage offer or product transfer to be arranged in advance of the required start date.

The permitted period differs between lenders and products.

If a more suitable product becomes available before completion, it may sometimes be possible to review or change the recommendation. This will depend on the lender, application stage, fees and circumstances.

Can You Remortgage Earlier?

Potentially, but leaving your current mortgage before the end of its initial period may trigger an early repayment charge.

The benefit of switching must be considered against:

• the early repayment charge

• any exit or administration fee

• the new product fee

• valuation and legal costs

• the time remaining on the current deal

• the difference between the existing and proposed payments

A lower rate does not necessarily compensate for a large charge.

Why Do Homeowners Remortgage?

There are many reasons to review a mortgage.

Your Current Deal Is Ending

This is one of the most common reasons.

When a fixed, tracker or discounted initial period ends, the mortgage may move to the lender’s standard variable rate unless another arrangement is made.

You Want to Review the Monthly Payment

A different mortgage rate, term or balance may change the monthly payment.

A lower payment can help with budgeting, but it should not be considered in isolation.

Extending the term may reduce the required monthly amount while increasing the total interest paid over the life of the mortgage.

Your Property Has Increased in Value

If the value of your home has increased while the mortgage balance has reduced, your loan-to-value may be lower.

A lower loan-to-value can sometimes provide access to a different range of products.

The lender will use its own valuation rather than relying solely on an estate-agent estimate or online property value.

You Want Different Mortgage Features

You may want a mortgage offering:

• permitted overpayments

• payment flexibility

• portability

• an offset facility

• a different initial-rate period

• lower or no early repayment charges

• a repayment structure better suited to your circumstances

Your Income or Circumstances Have Changed

You may have:

• changed employment

• become self-employed

• received a promotion

• moved from salary to salary and dividends

• reduced other borrowing

• started or finished paying childcare

• separated from a partner

• added or removed someone from the mortgage

• inherited money

• changed your retirement plans

These changes can affect both affordability and the type of mortgage that may be suitable.

You Want to Borrow More

You may be considering additional borrowing for:

• an extension

• a loft conversion

• renovation

• energy-efficiency improvements

• another eligible purpose

Borrowing more increases the amount secured against your home and requires careful assessment.

What Happens When Your Current Deal Ends?

If you take no action when an initial mortgage deal expires, you will commonly move onto the lender’s standard variable rate.

A standard variable rate is set by the lender and can usually change in accordance with the mortgage terms.

It may be higher than other products available at the time, although this cannot be assumed in every case. MoneyHelper advises homeowners to compare the options when an introductory deal ends because remaining on the standard variable rate can be more expensive.

Is a Standard Variable Rate Always Unsuitable?

No.

An SVR may offer flexibility and may not carry the early repayment charges associated with a new fixed deal.

It could be relevant where:

• you expect to move very soon

• the mortgage balance is relatively small

• you intend to repay the mortgage shortly

• your circumstances are changing

• the costs of switching outweigh the potential benefit

However, the rate can normally change and the monthly payment may be less predictable.

We’ll compare the available options rather than assuming everyone should immediately leave an SVR.

Staying With Your Current Lender or Switching

There is no universal answer.

The appropriate route depends on the products, costs, lender criteria and your circumstances.

Staying With Your Current Lender

A product transfer may offer:

• a simpler process

• fewer documents

• no new solicitor

• no separate valuation

• no affordability assessment in some circumstances

• lower transaction costs

Possible limitations include:

• a restricted choice of products

• less suitable rates or features

• no option to make the desired change

• separate arrangements if you want to borrow more

Moving to a New Lender

A remortgage may provide:

• access to a different product

• features unavailable with the existing lender

• a rate or overall cost better suited to your circumstances

• the opportunity to change the term or repayment structure

• additional borrowing, where appropriate

A new lender will generally assess:

• your income

• affordability

• credit history

• supporting documents

• the property

• the proposed mortgage

Legal work and a valuation may also be required.

Comparing the Complete Outcome

We’ll compare matters including:

• monthly payments

• product fees

• early repayment charges

• valuation and legal costs

• incentives

• mortgage features

• the initial-rate period

• the mortgage term

• the total cost during the relevant comparison period

• your plans for the property

The lowest interest rate will not necessarily result in the lowest overall cost. MoneyHelper gives the example of a mortgage with a lower rate but a substantial product fee costing more than a slightly higher-rate fee-free alternative.

How Equity and Loan-to-Value Affect Your Options

Your equity is broadly the difference between the current value of your property and the amount secured against it.

For example:

• estimated property value: £350,000

• outstanding mortgage: £245,000

• estimated equity: £105,000

Your loan-to-value would be 70%.

The calculation is:

Outstanding mortgage ÷ property value × 100

MoneyHelper explains that loan-to-value can reduce as the mortgage is repaid or the property value rises, potentially giving access to a different range of mortgage products.

Why Loan-to-Value Matters

Mortgage products are commonly offered within loan-to-value bands.

Moving into a lower band may provide access to:

• different rates

• a wider product range

• lower monthly payments

This is not guaranteed.

Product availability also depends on:

• income and affordability

• credit history

• property type

• lender criteria

• the requested term

• the purpose of any additional borrowing

The Lender’s Valuation

The lender will determine the property value it is prepared to use.

This may be based on:

• an automated valuation

• a desktop assessment

• an external inspection

• an internal valuation

The valuation is for the lender’s mortgage assessment and is not a detailed survey for the homeowner.

If the property is valued below your estimate, the loan-to-value may be higher and the selected product may no longer be available.

The Costs of Remortgaging

A new mortgage can have a lower rate but still cost more overall once fees and charges are included.

Potential costs include:

• an early repayment charge

• a mortgage exit or administration fee

• a product or arrangement fee

• a valuation fee

• solicitor or conveyancing fees

• a broker fee

• electronic transfer fees

• fees for changing ownership or the mortgage structure

MoneyHelper advises comparing the costs of the new deal with the charges for leaving the existing mortgage and notes that legal, valuation and administration costs may apply when changing lender.

Early Repayment Charges

An early repayment charge may apply if you repay or move the mortgage during an initial fixed or discounted period.

The amount and calculation method are set out in the mortgage terms.

It might be:

• a percentage of the mortgage balance

• a reducing percentage over time

• another calculation described by the lender

We’ll include the charge when comparing the available routes.

Product Fees

A product fee may be:

• paid upfront

• deducted from the advance

• added to the mortgage, where permitted

Adding a fee to the mortgage means interest can be charged on it.

Valuation and Legal Incentives

Some remortgage products include:

• a free valuation

• standard legal work

• cashback towards costs

The precise scope and limitations should be understood.

Additional legal work or unusual property circumstances may result in extra charges.

When Switching May Not Be Worthwhile

A remortgage may offer limited benefit where:

• the outstanding balance is small

• relatively little time remains on the mortgage

• substantial early repayment charges apply

• fees outweigh the potential saving

• you expect to move shortly

• the existing lender’s product transfer is more appropriate

The Remortgage Process

Every application differs, but the process will generally follow these stages.

1. Review the Existing Mortgage

We’ll establish:

• the current lender

• outstanding balance

• interest rate

• deal-expiry date

• remaining mortgage term

• repayment method

• early repayment charge

• existing product features

A current mortgage statement can help provide this information.

2. Discuss Your Circumstances and Objectives

We’ll complete a detailed fact-find and discuss:

• income

• employment or business

• regular commitments

• property value

• reasons for remortgaging

• future plans

• preferred monthly payment

• whether you want additional borrowing

3. Consider the Product-Transfer Options

Where relevant, we’ll consider the products available from your existing lender.

4. Research Remortgage Alternatives

We’ll research suitable options from other lenders within the scope of our service.

5. Present the Recommendation

We’ll explain:

• the recommended route

• why we believe it is suitable

• the rate and initial period

• monthly payments

• fees

• early repayment charges

• product features

• relevant alternatives

• anything else you should consider

6. Submit the Application

If you are happy to proceed, we’ll prepare and submit the application.

7. Lender Assessment and Valuation

The lender will assess:

• income and affordability

• credit history

• supporting evidence

• the property

• the reason for any additional borrowing

It may request further documents or explanations.

8. Legal Work

When changing lender, legal work is usually required to:

• confirm the title

• obtain redemption information

• repay the existing mortgage

• register the new lender’s charge

The lender may provide a standard remortgage legal service or allow you to appoint a solicitor, depending on the product.

9. Mortgage Offer

If the lender is satisfied, it may issue a formal offer.

We’ll explain what happens next.

10. Completion

On completion:

• the new lender releases the funds

• the existing mortgage is repaid

• relevant fees or additional borrowing are dealt with

• the new mortgage begins

What Documents Might You Need?

The documents required depend on your circumstances and the lender.

You may be asked for:

• identification

• proof of address

• recent payslips

• a P60

• recent bank statements

• evidence of bonuses, commission or overtime

• accounts and tax documents if self-employed

• details of loans and credit commitments

• the current mortgage statement

• buildings-insurance information

• evidence of the purpose of additional borrowing

• property information

We’ll provide a personalised document list rather than assuming the same evidence applies to every applicant.

Keep Us Informed of Changes

Tell us if anything changes before completion, including:

• employment

• income

• new borrowing

• credit commitments

• property plans

• relationship or household circumstances

• the amount of additional borrowing required

A lender may reassess the application if material circumstances change.

Remortgaging After Your Circumstances Change

Your position today may be different from when the original mortgage was arranged.

Changing Employment

You may have:

• started a new job

• moved into probation

• changed working hours

• received a promotion

• taken a career break

• returned from maternity, paternity or parental leave

Lenders approach these circumstances differently.

Becoming Self-Employed

A lender may require:

• accounts

• tax calculations and tax year overviews

• salary and dividends

• net profit

• contract evidence

• business bank statements

The fact that you originally obtained the mortgage while employed does not prevent a remortgage, but the new lender will assess your current income.

Read our Self-Employed Mortgages guide.
Internal link: Self-Employed Mortgages

Changes to the Household

You may want to:

• add a partner

• remove a former partner

• transfer ownership

• take over the mortgage individually

This is not simply an administrative change.

The lender will normally assess affordability and credit and may require legal work.

Independent legal advice may be appropriate, particularly following separation.

Reduced Income or Increased Expenditure

If affordability has become tighter, switching to another lender may be more difficult.

Your existing lender may still have product-transfer or support options.

Speak to your lender or adviser as early as possible rather than waiting until payments are missed.

Choosing Your Next Mortgage

The mortgage type should reflect your circumstances, attitude to payment changes and plans.

Fixed-Rate Mortgages

A fixed-rate mortgage keeps the rate unchanged for an initial period.

This provides predictable required payments during that period.

However:

• early repayment charges may apply

• you will not benefit from falling market rates during the fixed period

• the mortgage must be reviewed again when the deal ends

Tracker Mortgages

A tracker mortgage normally follows an external rate, commonly the Bank of England base rate, plus a set margin.

The payment can rise or fall as the tracked rate changes.

This may offer flexibility in some circumstances, but you must be able to manage a possible payment increase.

Other Variable-Rate Products

Other variable mortgages may be linked to a lender-controlled rate.

The lender may change it in accordance with the mortgage terms.

Product Length

You may be considering:

• a shorter fixed period

• a longer fixed period

• a tracker or variable product

The decision may depend on:

• payment certainty

• plans to move

• expected changes in income

• early repayment charges

• attitude to interest-rate changes

• product fees

• need for flexibility

We’ll explain the trade-offs rather than trying to predict future interest rates with certainty.

Changing the Mortgage Term

You may want to shorten or extend the mortgage term.

Shortening the Term

A shorter term may:

• increase the required monthly payment

• reduce the total interest paid

• allow the mortgage to be cleared sooner

The new payment must remain affordable.

Extending the Term

A longer term may:

• reduce the required monthly payment

• provide more monthly flexibility

• increase the total interest paid

• result in borrowing continuing later in life

The lender may consider your expected retirement age and retirement income.

Making Overpayments

An alternative to committing to a shorter contractual term may be to choose a mortgage allowing overpayments.

Overpaying can reduce the balance and interest, but limits and early repayment charges may apply.

Read our guide to Mortgage Overpayments.
Internal link: Mortgage Overpayments Guide

Borrowing More for Home Improvements

Homeowners often review their mortgage when considering:

• an extension

• a loft conversion

• a new kitchen

• structural renovation

• energy-efficiency improvements

• adapting the property for a growing family

• creating a home office

Potential routes may include:

• remortgaging to a new lender

• taking a further advance from the existing lender

• using savings

• another form of borrowing

The appropriate route depends on:

• the amount required

• property equity

• affordability

• current early repayment charges

• the cost of changing lender

• the property’s current condition

• whether it will remain habitable

• the scale and timing of the work

Will the Improvements Increase the Property Value?

Home improvements may add value, but the eventual increase cannot be guaranteed.

A lender will normally assess the property in its current condition unless it has agreed another valuation approach.

The cost of work does not automatically translate into the same increase in value.

Significant Structural Work

If the property will be substantially altered or become temporarily uninhabitable, a standard residential remortgage may not be the appropriate solution.

Additional advice from:

• a surveyor

• architect

• structural engineer

• planning professional

• solicitor

may be required.

Read our Home Improvement Mortgages guide.
Internal link: Home Improvement Mortgages

Further Advances and Second-Charge Mortgages

Remortgaging is not the only way to borrow against your property.

Further Advance

A further advance is additional borrowing from your current mortgage lender.

It is commonly arranged on a separate product, which may have a different rate and expiry date from the main mortgage.

MoneyHelper explains that a further advance can be relevant where the current lender’s additional-borrowing option is competitive or the homeowner does not want to replace the main mortgage.

Potential advantages include:

• keeping the existing main mortgage

• avoiding its early repayment charge

• less disruption to the existing deal

Potential disadvantages include:

• a different rate on the additional borrowing

• separate product-expiry dates

• restricted lender choice

• affordability and property criteria

Second-Charge Mortgage

A second-charge mortgage is a separate secured loan from another lender while the existing first mortgage remains in place.

It may be considered where:

• the existing mortgage has a particularly favourable rate

• a large early repayment charge applies

• replacing the first mortgage would be unsuitable

• the applicant needs additional borrowing

A second charge can carry a higher rate and additional fees.

It increases the borrowing secured against your home and requires careful comparison with the alternatives.

Read our Second-Charge Mortgages guide.
Internal link: Second-Charge Mortgages

Remortgaging to Consolidate Debt

Using a mortgage to repay unsecured debts can reduce the number of monthly payments and may reduce the apparent interest rate.

However, it can create serious long-term risks.

By adding unsecured debt to your mortgage:

• the debt becomes secured against your home

• it may be repaid over a much longer period

• the total amount of interest paid can increase

• your mortgage balance and loan-to-value increase

• future remortgage options may be affected

• your home may be at greater risk if payments are not maintained

MoneyHelper warns that consolidating shorter-term unsecured debt into a longer mortgage can result in paying substantially more overall, even where the mortgage interest rate is lower. It also advises considering alternatives and seeking free debt advice before securing debts against the home.

Lower Monthly Payments Do Not Necessarily Mean Lower Cost

For example, moving a debt from a five-year personal loan onto a mortgage with 20 years remaining may reduce the monthly payment while keeping the debt outstanding for much longer.

The total repayment could be higher.

Explore the Alternatives

Before recommending debt consolidation, the advice process should consider:

• the reasons the debt arose

• whether the position is stable

• alternative repayment options

• the total cost

• the mortgage term

• the risk of repeating the borrowing

• the effect on the household budget

• whether free independent debt advice is appropriate

Think carefully before securing other debts against your home.

Remortgaging When You Plan to Move

If you expect to move soon, entering a new mortgage with substantial early repayment charges may restrict your options.

You may need to consider:

• remaining on the current arrangement temporarily

• selecting a product with lower early repayment charges

• whether the mortgage is portable

• the likely timing of the move

• whether you will need additional borrowing

Portability Is Not Guaranteed Approval

A portable mortgage product may be transferable to another property, but moving is normally treated as a new application.

You will still need to meet:

• affordability requirements

• credit criteria

• property criteria

• the lender’s rules at the time

MoneyHelper notes that porting remains subject to a new mortgage application and that additional borrowing may need to be arranged on a separate product.

Tell us about likely moving plans before choosing a new remortgage product.

Read our Moving Home Mortgages guide.
Internal link: Moving Home Mortgages

Low Equity and Negative Equity

You have negative equity when the outstanding mortgage exceeds the current property value.

For example:

• mortgage balance: £205,000

• property value: £195,000

• negative equity: £10,000

Negative equity can make moving to a different lender difficult because the required mortgage exceeds the property’s value.

If You Have Limited Equity

Options may include:

• a product transfer with the existing lender

• continuing to reduce the mortgage balance

• making overpayments where affordable and permitted

• waiting for the position to change

• discussing support with the current lender

The appropriate route will depend on your circumstances.

Do Not Rely on an Estimated Value Alone

An online estimate or estate-agent opinion may differ from the lender’s valuation.

The formal mortgage position will be based on the value accepted by the lender.

Interest-Only Mortgages

With an interest-only mortgage, the required monthly payment normally covers interest without reducing the original capital balance.

A separate repayment strategy is required to clear the balance at the end of the term.

Reviewing the Repayment Strategy

If you have an interest-only mortgage, it is important to review whether the proposed repayment strategy remains on track.

Possible strategies may include:

• investments

• pension funds

• savings

• sale of another property

• sale of the mortgaged home

• another acceptable asset

Not every lender accepts every strategy.

Switching to Repayment

You may want to consider moving some or all of the mortgage onto capital-and-interest repayment.

This can increase the monthly payment, particularly where the remaining term is relatively short.

Extending the Term

Extending an interest-only mortgage may be possible in some circumstances but cannot be assumed.

The lender may consider:

• age

• retirement income

• repayment strategy

• property value

• affordability

• mortgage term

MoneyHelper recommends regularly reviewing the repayment plan for an interest-only mortgage to check whether it remains sufficient to repay the capital at the end of the term.

Buy-to-Let Remortgages

Buy-to-let remortgages are assessed differently from residential mortgages.

A landlord may review a buy-to-let mortgage to:

• replace an expiring deal

• consider another lender

• borrow additional funds

• restructure portfolio borrowing

• move between personal and company ownership, where legally and commercially appropriate

The lender may consider:

• rental income

• property value

• loan-to-value

• the landlord’s tax position

• personal income

• the number of properties owned

• the wider portfolio

• tenancy type

• property condition

Moving a property from personal ownership into a limited company is normally treated as a legal transfer rather than a simple administrative mortgage change.

Tax and legal advice should be obtained.

Read our Buy-to-Let Mortgages guide.
Internal link: Buy-to-Let Mortgages

Most forms of buy-to-let mortgage are not regulated by the Financial Conduct Authority.

Reviewing Your Protection

A remortgage can be a useful time to review your protection arrangements.

Your circumstances may have changed since the existing mortgage was arranged.

You may have:

• increased or reduced the mortgage

• changed employment

• become self-employed

• had children

• changed your income

• separated or formed a new household

• repaid other commitments

• taken on new financial responsibilities

Life Insurance

Life insurance can pay a benefit if the insured person dies during the policy term, subject to the policy’s terms and conditions.

Read our Life Insurance guide.
Internal link: Life Insurance

Critical Illness Cover

Critical illness cover can pay a benefit following diagnosis of a condition covered by the policy, provided the relevant definition and policy conditions are met.

Read our Critical Illness Cover guide.
Internal link: Critical Illness Cover

Income Protection

Income protection can provide a regular benefit if illness or injury prevents the insured person from working, subject to the policy terms.

Read our Income Protection guide.
Internal link: Income Protection

Do Not Cancel Existing Cover Too Early

Do not cancel an existing policy simply because a new application has been made.

New cover may be subject to:

• underwriting

• exclusions

• different terms

• a higher premium

• refusal

Wait until any replacement cover has been accepted, checked and placed on risk, and you have been advised that cancelling the old policy is appropriate.

Protection is not treated as an automatic addition to every remortgage.

Any recommendation will be based on your individual needs and objectives.

Why Choose Moveo Mortgages for Your Remortgage?

A mortgage review should consider more than which lender displays the lowest rate.

At Moveo Mortgages, we’ll help you understand the complete decision.

We Start With Your Existing Mortgage

We’ll review:

• the outstanding balance

• current rate

• deal-expiry date

• early repayment charge

• remaining term

• repayment method

• relevant features

We Understand What You Want to Achieve

Your objective may be:

• arranging the next deal

• reducing the term

• changing the payment structure

• borrowing more

• improving flexibility

• preparing to move

• reviewing an interest-only mortgage

The recommendation will reflect the objective rather than assuming every remortgage is solely about obtaining a lower rate.

We Compare the Relevant Routes

Where appropriate, we’ll compare:

• a product transfer

• a remortgage to another lender

• a further advance

• other relevant borrowing routes within our service

We Explain the Complete Cost

We’ll explain:

• the rate

• monthly payment

• product fee

• early repayment charge

• relevant legal or valuation costs

• product features

• total cost over the comparison period

We Manage the Application

If you choose to proceed, we’ll prepare and submit the application, explain the documents required and keep you informed.

We Aim to Respond Within 24 Hours

You should know where your application stands and who to contact with a question.

We Stay in Touch

We’ll aim to contact you before your next mortgage deal ends so that the review can begin in good time.

Remortgage Advice Across the UK

Moveo Mortgages provides remote mortgage and protection advice through Zoom, telephone and email.

We also have dedicated local information for homeowners across Manchester, Cheshire and the surrounding areas.

Explore our location guides:

• Mortgage Broker Manchester
  Internal link: Mortgage Broker Manchester

• Mortgage Broker Cheshire
  Internal link: Mortgage Broker Cheshire

• Mortgage Broker Altrincham
  Internal link: Mortgage Broker Altrincham

• Mortgage Broker Hale
  Internal link: Mortgage Broker Hale

• Mortgage Broker Wilmslow
  Internal link: Mortgage Broker Wilmslow

• Mortgage Broker Didsbury
  Internal link: Mortgage Broker Didsbury

• Mortgage Broker Sale
  Internal link: Mortgage Broker Sale

• Mortgage Broker Knutsford
  Internal link: Mortgage Broker Knutsford

• Mortgage Broker Alderley Edge
  Internal link: Mortgage Broker Alderley Edge

Frequently Asked Questions

What is a remortgage?

A remortgage replaces the mortgage on your current home with a new mortgage from another lender.

Is changing products with my current lender a remortgage?

It is generally known as a product transfer rather than a remortgage.

When should I start reviewing my mortgage?

It is often sensible to begin several months before the current deal ends. Many homeowners start approximately six months in advance, although lender and product timescales vary.

What happens if I do nothing when my fixed rate ends?

The mortgage will commonly move onto the lender’s standard variable rate unless another arrangement is made.

Is the standard variable rate always more expensive?

Not necessarily, although it is commonly higher than other products available at the time and can normally change in accordance with the mortgage terms.

Should I stay with my current lender?

That depends on the product offered, your circumstances, the available alternatives and the cost of switching.

Will I need another affordability assessment?

A new lender will normally assess affordability.

A product transfer with the existing lender may not require a full assessment in some circumstances, but this depends on the lender and changes requested.

Will the lender check my credit again?

A new lender will normally carry out a credit assessment.

The existing lender’s process for a product transfer will depend on its criteria and the change being made.

Will I need a property valuation?

A new lender will usually value the property.

This might be automated, completed remotely or involve a physical inspection.

How much is my property worth?

The lender will determine the value it is prepared to use.

An estate-agent estimate or online valuation can provide guidance but may differ from the lender’s assessment.

What is loan-to-value?

Loan-to-value is the mortgage balance expressed as a percentage of the property value.

Can a lower loan-to-value provide better rates?

It can provide access to a different range of products, but availability also depends on the applicant, property and lender criteria.

Can I remortgage before my deal ends?

Potentially, but an early repayment charge and other costs may apply.

Can I arrange my next mortgage in advance?

Potentially. Offer and product-reservation periods vary between lenders.

How long does a remortgage take?

Timescales vary according to the lender, applicant, property, legal work and complexity of the application.

What documents will I need?

You may need identification, income evidence, bank statements, details of commitments, a current mortgage statement and documents relating to any additional borrowing.

Can I remortgage if I have become self-employed?

Potentially.

The lender will assess your current income, trading history and supporting evidence.

Can I remortgage while on maternity or parental leave?

Potentially.

The lender may consider your current income, expected return-to-work arrangements, childcare costs and wider circumstances.

Can I remortgage during a probationary period?

Potentially.

Lenders approach probation differently.

Can I remortgage with previous credit problems?

Potentially.

The available options will depend on the type, timing and severity of the issues and your wider circumstances.

Can I remove someone from the mortgage?

Potentially.

The lender will normally assess whether the remaining applicant can afford the mortgage, and legal work will usually be required.

Can I add someone to the mortgage?

Potentially.

The lender will normally assess both applicants, and ownership and legal arrangements will need to be considered.

Can I borrow more when I remortgage?

Potentially, subject to affordability, property equity, the purpose of the funds and lender criteria.

Can I remortgage to pay for an extension?

Potentially.

The options will depend on the amount required, affordability, equity, property condition and planned work.

Can I remortgage to consolidate debts?

Potentially, but this can increase the total cost and convert unsecured debts into borrowing secured against your home.

Alternatives and free debt advice should be considered.

Is a further advance the same as a remortgage?

No.

A further advance is additional borrowing from the existing mortgage lender while the main mortgage remains in place.

What is a second-charge mortgage?

It is a separate secured loan alongside the existing first mortgage.

Can I remortgage if I plan to move soon?

Potentially, but the new product’s early repayment charges and portability should be considered carefully.

Can I remortgage in negative equity?

Moving to another lender may be difficult.

Your existing lender may have product-transfer or support options.

Can I change an interest-only mortgage to repayment?

Potentially.

The effect on the monthly payment and affordability will need to be assessed.

Can I extend the mortgage term?

Potentially.

The lender may consider affordability, age, retirement and the resulting total cost.

Can I reduce the mortgage term?

Potentially, provided the higher required monthly payment is affordable.

Can I remortgage a buy-to-let property?

Potentially.

Buy-to-let lender criteria, rental calculations, loan-to-value and portfolio circumstances will apply.

Do I need life insurance when remortgaging?

Life insurance is not automatically compulsory with every mortgage.

A remortgage can provide an opportunity to review whether your existing protection still meets your needs.

Will Moveo contact me when my mortgage is ending?

We’ll aim to contact you before the current deal expires so that there is time to review the available options.

Ready to Review Your Mortgage?

You do not need to know whether you should remain with your current lender or move to another provider before speaking to us.

That is what the mortgage review is for.

Whether:

• your fixed deal is approaching its end

• you are currently on a standard variable rate

• you want to reduce or extend the mortgage term

• your income or household has changed

• you are considering home improvements

• you want to borrow more

• you have become self-employed

• you expect to move home

• you need to review an interest-only mortgage

• you simply want to understand whether the current mortgage still suits you

we’ll take the time to understand your circumstances and explain the relevant options.

No unnecessary jargon.

No assumption that switching is automatically better.

Just clear, personal mortgage advice to help you make an informed decision.

Move forward with Moveo.

Helping you make informed mortgage decisions with confidence.

Book your mortgage review
Internal link: Booking page

Contact Moveo Mortgages
Internal link: Contact page

SEO Details

Suggested URL

/remortgages

Meta Title

Remortgage Advice | Moveo Mortgages

Meta Description

Review your mortgage with clear, personal advice. Compare product transfers, remortgage options, costs, equity, terms and additional borrowing.

Primary Search Terms

• remortgages

• remortgage advice

• remortgage broker

• remortgage mortgage broker

• remortgage adviser

Supporting Search Terms

• when should I remortgage

• product transfer or remortgage

• remortgage before fixed rate ends

• remortgage early repayment charge

• remortgage costs

• remortgage to borrow more

• remortgage for home improvements

• remortgage to consolidate debt

• remortgage after becoming self-employed

• remortgage with bad credit

• change mortgage term

• further advance or remortgage

• interest-only remortgage

• buy-to-let remortgage

Regulatory Wording

Replace the placeholders below with the precise wording approved by your principal or network before publication:

[Moveo Mortgages is a trading style of FULL LEGAL ENTITY NAME, an Appointed Representative of PRINCIPAL FIRM NAME, which is authorised and regulated by the Financial Conduct Authority. FCA reference number: NUMBER.]

[Insert the exact network-approved fee disclosure.]

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Most forms of buy-to-let mortgage are not regulated by the Financial Conduct Authority.