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Mortgage360 are here to help you make the right choice.

Here at Mortgage360 we pride ourselves on offering tailored advice, coupled with great service. We are mortgage experts, so you can rest assured that you are in safe hands when searching for your new mortgage, whatever your situation may be.

Key Benefits

We are committed to guiding you through one of life's most significant financial decisions.

When it comes to securing the right mortgage, our expert team is here to ensure that you make informed choices tailored to your unique needs.

We work from a comprehensive panel which is representative of the whole of the market. This means we’re able to provide you with honest and impartial advice.
We make it easy for you – we complete all necessary paperwork on behalf of our clients throughout the application process
It’s a partnership. Going forward, we orchestrate regular reviews to ensure you always have the most suitable products, protecting what’s important to you.

If you’re looking to remortgage, then using an expert broker like Mortgage360 is the best way forward to ensure your new remortgage deal gets you the most competitive rate, combined with expert advice on every aspect of the remortgage process.

We work from a comprehensive panel which is representative of the whole of the market. This means we’re able to provide you with honest and impartial advice, searching the mortgage market to find the product that’s right for you, tailored to meet your precise needs.

Alongside your remortgaging requirements, we can help you to assess your complete family protection packages, providing advice on associated products such as life insurance, critical illness insurance and income protection to safeguard your financial position.

What is remortgaging?

It’s a simple and straightforward concept – a remortgage is when you pay off an existing mortgage by securing a new one.

You’re refinancing the mortgage on your existing property by replacing it with another, via a new lender.

The decision to remortgage can be prompted by a range of different circumstances. You may be approaching the end of your current deal, you may feel you can secure a better deal than your current lender is offering, or you may be planning home improvements or other life changes and want to borrow more money against your existing property.  

Do I need a deposit to remortgage?

Not usually. The equity you already have in your existing home will serve as your deposit. (Equity is the difference between the current value of your home and the mortgage you have secured against it.)

In addition, the remortgage process is usually more straightforwards than applying for a new mortgage deal on a new property

How long does it take?

This will vary dependent on your circumstances, but a general rule of thumb is between four and eight weeks.

If you’re remortgaging with your existing lender, then they will already have most of the relevant information, so it can be significantly quicker. Changing to a new lender will take a little longer.

At Mortgage360, we’ll provide you with all the information you need to speed up the remortgage process, including handling the paperwork and advising you on exactly what you need to ensure the remortgage is quick and seamless.

Good reasons for remortgaging?

So why should you consider remortgaging? Here are a few key benefits to consider:

– Avoid moving home

You may need more living space or space for an elderly relative. Moving home is a costly business when you factor in stamp duty, legal costs, estate agency fees, removals and upheaval. Remortgaging to release equity to extend your existing home could be a better decision.

– Save money

Your financial situation may have changed. Remortgaging with a new mortgage lender or even your current provider can enable you to secure a better deal and reduce your monthly repayments, with the potential to make significant savings over time.

– Consolidate your financial position

Some debts charge much higher levels of interest than your mortgage, including most credit cards. At Mortgage360, we’ll work closely with you to assess your existing debts and work out whether a remortgage will be financially beneficial for you, potentially repaying less over time.

– Shorten your mortgage term

Be mortgage free sooner – when interest rates are high it makes sense to repay your mortgage sooner, often saving thousands of pounds over the entire mortgage term.

Whether you have had your existing mortgage for many years, or are just approaching the end of your redemption period, it’s worth assessing your position and looking at how your home can play an integral role in your finances.

Do you actually need a mortgage broker to remortgage?

Not technically, no, but an impartial mortgage adviser will almost certainly be able to secure the most competitive deals tailored to you, as well as help you with all the paperwork and reduce stress levels! Most experts recommend commissioning the skills and knowledge of a mortgage adviser to broker the right deal.

At Mortgage360, we look at your current deal, and your personal and financial circumstances and assess your attitude to risk. We’ll then scour the market to find the right mortgage deal to match your requirements. We’ll save you effort, time and money.

What are the benefits of remortgaging?

Key to remortgaging is the potential to secure a better deal and reduce your monthly repayments, thereby saving money. This is dependent upon the state of the market; when interest rates are rising, you may need to mitigate the effects of this.

– Reduce the cost of your mortgage

Special introductory rates may have pegged your mortgage lower for a period of time, and you may now be facing increased repayments. We can help by searching the market for preferential products to match your requirements and financial circumstances.

– Free up capital

Dependent upon the equity in your home, you may be able to release cash to pay for anything from home improvements to lifestyle changes and debt consolidation.

– Flexibility for evolving circumstances

You may require more flexibility from your mortgage if your income has either increased or decreased since you secured your existing mortgage. Remortgaging and implementing structural changes such as changing the loan term can help with this.

Affordability Calculator

Stamp Duty Calculator

Repayment Calculator

When can I remortgage?

It’s best to start looking at least 6 months before your current mortgage deal expires, to avoid automatic transfer to your lender’s standard variable rate (SVR).

Despite recent surges in interest rates, they are now levelling out, but always with the possibility of future increases. We can help you to lock in a mortgage deal that suits you so you don’t get caught up in a more expensive default rate.

How do I remortgage?

Call Mortgage360 for a no-obligation consultation and we’ll get the ball rolling.

Staying with the same lender

We’ll look closely at the benefits of staying with your existing lender for a product transfer and/or further advance, or moving to a new lender.

Your current mortgage provider has all your details on file, so the process will be quicker and will incur fewer additional fees. Remember that if you’re wanting to borrow more money, additional checks will be required.

It might be easier too, because your existing lender is aware of your ability to repay a loan over time, making the application quicker and simpler, often without the need for extensive credit checks.

Moving to a new lender

This will require a solicitor and may include other additional fees. However, it could prove to be the better decision over time.

We could secure a better mortgage rate for you, and there are often additional benefits such as free legal fees or even cashback incentives.

If your financial circumstances have changed for the better since you made your original mortgage application, many more options may now be on the table for you.

How to work out the LTV when remortgaging?

Your Loan to Value (LTV) is the ratio of what you’re borrowing compared to the value of your property. It will change over time, as you repay the loan, your mortgage balance decreases and your property generally increases in value.

In principle, the better your LTV, the better interest rates you will qualify for. Although most lenders require an LTV of less than 80%, there are providers who make exceptions, and it is possible to secure a mortgage with an LTV of 95%.

When remortgaging, lenders usually require a remortgage valuation on your home to assess its current worth in relation to what you’re wanting to borrow on it.

Note: Remortgage and Additional Borrowing (Further Advance) lending is usually restricted to 90% LTV. Self-employed applications may have a maximum LTV of 85%.

What are the potential costs involved?

When remortgaging, you will incur similar fees to a standard home mover mortgage, including arrangement and legal fees and broker fees. In addition, dependent upon the terms of your original mortgage, you may have to pay exit fees (Early Repayment Charges).

These fees depend upon your current mortgage and your new deal. Although they are usually minimal, in some cases they can be quite considerable. Your mortgage adviser will help you to mitigate this risk and assess the benefits and disadvantages in financial terms.

What can I do to lower fees and improve the offers I receive?

It’s always worth looking closely at your current financial circumstances. Check your credit history and bank statements and take steps to repair them as required.

A few easy steps that will help here:-

  • Make sure you check your credit score before you start the process and take steps if required
  • Don’t apply for any form of new credit just before you apply for your mortgage
  • Be realistic about the value of your property
  • Start the process early to give you time to optimise
  • Consult a mortgage broker to assess your options and opportunities

Why choose Mortgage360 for your remortgage?

At Mortgage360, we’ll help you figure out what’s right for you. We’ll identify the risks and possible outcomes of the remortgage process and advise you accordingly.

We have access to lenders’ credit and affordability ratings and can match you to the right deal across the market. In addition, we have the established expertise to provide you with a comprehensive range of mortgages and insurance tailored to meet your precise needs.

We constantly monitor and assess the marketplace for the most competitive mortgage deal, then fine-tune a financial package that will help your remortgage.

Complete our short form to organise a no-obligation chat to start your remortgaging process.

FAQ’s

What is remortgaging?

Remortgaging is the process of moving the mortgage on your current property to a new deal. This can either be with the same lender or a different one.

Why should I remortgage?

There are a number of reasons as to why it may be time to remortgage, perhaps your current fixed rate deal is ending, you’re assessing your finances and believe remortgaging could save you money, you’re on a standard variable rate and want to switch to a fixed-rate mortgage or you’re planning on releasing equity from your property to pay for home improvements.

When should I remortgage?

If your fixed (or tracker/discount) product term is coming to an end, it’s recommended that you start the remortgaging process 6 months beforehand. You can remortgage at any time, but bear in mind that you may need to pay an early repayment fee to do so.

How long does it take to remortgage?

On average, the remortgaging process takes between 4 to 8 weeks. However, just as everyone’s financial circumstances are different, there is no set time that it will take to remortgage, so this timeframe isn’t guaranteed.

Can I remortgage with bad credit?

The vast majority of lenders do like to see that you have paid all your financial commitments over the last 3 years, however, there are a number of lenders that will consider clients with bad credit. Your specialist advisor will look at these lenders if your situation requires it.

Your Expert Remortgaging Broker

Here at Mortgage360, we can provide expert advice on all your mortgage and insurance needs.

Whether you’re ready to get started on your journey now, or you’d just like a no obligation consultation, we’d love to hear from you…

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Reviews

See what our clients are saying....

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Pippa Lister
April 11, 2024

Gavin at Mortgage 360 was superb throughout. He responded quickly to any questions or queries we had, worked round our busy work life with evening zoom meetings and kept us regularly updated. He made the whole process straightforward and clear. Thank you Gavin

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M Wick
April 10, 2024

Matt at Mortgage360 is an amazing broker. He was always on hand to lend support and offer calm and well explained help. As a first time buyer, his help was always appreciated and the service which they offer is top notch. I could not recommend mortgage360 highly enough

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Stormin' F
March 13, 2024

I cannot recommend Gavin more highly for his invaluable and trustworthy expert support in navigating through the mortgage process. I have used Gavin’s services several times over the years and he had always gone above and beyond the call - thanks Gavin.

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Ash Gibbs
March 9, 2024

Gavin has helped us to no end. Brilliant service and he was willing to go the extra mile to ensure we got the very best deal.

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Ross McWilliams
February 22, 2024

Our experience using Mortgage360 has been absolutely brilliant. Matt has been there for us and supported with our mortgage application every step of the way, with an excellent outcome. Thank you for everything - you’re a star!

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Jonathan Bush
February 16, 2024

Gavin arranged my Mortgage for my first home and i couldn't have been happier with the service received, explained things in great detail and communicated efficiently. I would recommend Mortgage360 to anyone in need of mortgage advice and I will be definitely using them in the future.

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Nigel Porritt
February 15, 2024

I contacted Mortgage360 I was looking for help with the purchase of my first home. They were great at explaining all of my options, taking time to ensure I understood everything fully and constantly provided updates throughout the whole process. I couldn’t have asked for a better service and would highly recommend them. Thanks Gavin and Matt!

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Richard Espin-Bradley
February 9, 2024

Matt Illingworth was superb! Readily available on the phone, or always called back within a short space of time. Made plenty of time to discuss our needs and never tried to hurry us into making decisions. His advice was clear and helpful.

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James Hall
February 9, 2024

Gavin at mortgage360 has been outstanding, gives incredibly in depth information about all things mortgage related. Has helped us secure a mortgage at a better rate than we could have got ourselves, saving us lots of money. He made the whole process as stress free as possible and provided all templates for files we needed to send and always got back to our queries within a couple of hours at maximum. If I could give more than 5 stars I would. Keep it up Gavin!

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
MOST BUY-TO-LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

There may be a fee for arranging a mortgage. The precise amount will depend upon your circumstances, however we estimate this to be between £200 and £600.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
CONSOLIDATING DEBT MAY REDUCE YOUR OUTGOINGS NOW, BUT YOU MAY END UP PAYING MORE OVERALL.