Remortgage advice for homeowners

Looking for a new mortgage deal when your current rate is going to end?

There are many reasons to remortgage which we could go over but the main reason is that your current mortgage is ending soon. Generally, a remortgage can take anywhere from two to four months from start to finish so it’s good to get started early to save rushing around at the last minute.

What questions do you have for us?

You could be asking yourself any of these questions, but don’t worry, I’m here to help you get the answers, and all at zero cost to you.

  • Is moving my mortgage to a new lender the best option?

  • What are the benefits of staying with my current mortgage lender?

  • What if my current lender isn’t offering the best deal?

  • How long will a remortgage take?

You’ll notice one question missing though and that’s how will you cope with higher mortgage repayments? The current financial climate isn’t helping people who need a mortgage, so I want you to be as prepared as possible when it comes time to remortgaging.

That’s why I would advise you start the conversation about your remortgage at least six to seven months, if not 12 months before your current deal ends. This way you can get plenty of advice and have plenty of time to prepare for your future mortgage, and secure the right deal as soon as we find it.

How can you speed up your remortgage?

As with any mortgage there are some things you can prepare in advance to make the process go as smoothly as possible.

  • Proof of ID – passport or driving licence
  • Proof of address – utility bill dated within 3 months of the application
  • Proof of income – payslips or proof of self-employed earnings
  • Bank statements, making sure that they show your correct home address
  • Credit card statements, again making sure that they are registered the correct address.

You can check your credit report – From somewhere like Checkmyfile*

As part of our service to our clients we review your mortgage on an annual basis and then start the remortgage conversation at least seven months in advance of the rate finishing. This may seem excessive, but it really does allow you time for consideration, and if you want to make any changes to how much you have borrowed or for how long.

As you already own the property the process is generally a little less stressful as we don’t have to worry about a chain or other buyers and estate agents.

However, you may want to make changes to the mortgage term, and might fall into one of these categories:

  • Borrowing more money for a variety of reasons like home improvements, debt consolidation or to buy a second or third property
  • Add or remove someone from the mortgage
  • Changing the terms of the mortgage – borrowing over a longer period to help reduce the monthly costs. Although in doing this you will ultimately end up paying back more money.

If you have decided to borrow more money we will also look at your options available during our fee-free review process.

This is where our no fee approach can make a huge difference to our clients as we now take time to understand your needs for the remortgage and design a solution that suits your needs.

*Checkmyfile requires signing up to a 30-day free trial. You will not be charged if you cancel your free trial within the 30-day period. MK Mortgages receives a £12 commission for every free trial entered.


What we do

I pride myself on being up to date with regulation, legislation and the economic market. I work to understand your needs, match that to the requirements of lenders, and protect you and your dependants once you have bought your property.

This way, I can help you save time and money in the new world of mortgage advice.

Common Faqs

When I give you advice, I encourage you to continue asking any mortgage related questions. The more you understand the better I can help you. Below are some typical questions first time buyers ask us.

How can I check my credit score?2023-07-10T14:33:32+00:00

Your credit score has an impact on how much you could borrow. My advice is to improve that score where possible by clearing credit cards, shopping accounts and cancelling any unnecessary memberships. You can check you score with Checkmyfile*.

*Checkmyfile requires signing up to a 30-day free trial. You will not be charged if you cancel your free trial within the 30-day period. MK Mortgages receives a £12 commission for every free trial entered.


Does your no-fee mortgage advice limit my options?2023-07-10T14:13:56+00:00

Not at all. All mortgage advisers are paid a commission from the lender when we arrange a mortgage. I accept this to cover my costs and choose not to add a ‘mark-up’ cost to you. Paying for mortgage advice in no way opens the door to more lenders or products, and certainly cannot reduce your interest rates or monthly payments.

How long should it take to remortgage?2023-07-10T14:12:58+00:00

If you stay with your current mortgage lender, they already hold the legal charge to your property, so timescales are significantly reduced to days. However if you choose to move to a new lender, it could take a number of weeks. There are things you can do to keep the time it takes to remortgage to a minimum.

How much does a remortgage cost?2023-07-10T14:12:04+00:00

Most lenders offer a selection of options that include free basic valuations, free legal transfer services or cashback products where the cashback can be used to cover the cost of using your own chosen conveyancer. They will also offer a selection of interest rates with differing arrangement fees. All of which are discussed with you in order to help you decide on your remortgage. Remember, all of my mortgage advice is still free of charge to you.

When is the right time to look at remortgaging before my current mortgage ends?2023-07-10T14:10:59+00:00

I like to start remortgage discussions six to seven months before the end of your current mortgage deal, or even a year. The reason is so I can really understand your needs and circumstances, and have ample time to arrange any legal work. The actual paperwork can be completed in a matter of weeks, but many lenders offer a deal that lasts for 6 months.

Do I need a mortgage adviser when I remortage?2023-07-10T14:09:34+00:00

When your current mortgage comes to an end, you won’t automatically keep the same rate or deal, so even if you have been content with your mortgage provider, it is still advisable to ask an independent, whole of market mortgage adviser for help ensuring you will find the right deal for your remortgage.

Contact MK Mortgages

Please use the contact form to get in touch. The earlier you start the process the better.

Marc Kavanagh is a non-fee charging, whole of market mortgage adviser, providing advice purely for your benefit.

I cannot recommend Marc and his team highly enough. They helped and supported me throughout the whole process of buying my first home and were always kind and professional.

Marc and Sooz made everything as simple as possible and went above and beyond to help. They were always there for guidance and to answer any questions, which was amazing as I was embarking on a process I had very limited knowledge about. I’m not sure I would have been able to do it without them!

E Brooks

Fantastic experience – Marc and Sooz have been outstanding from start to finish in helping guide me through the complex process of finding a suitable mortgage for a first-time buyer. Marc even helped guide me on what best/worst attributes to look out for when house hunting, and what kind of offers should be pitched to the vendors in the current market.

Other additional services such as mortgage cover were offered, but never pushed – which I appreciated.

Very easy to deal with and get in contact with when needed, professional at all times – Highly recommend MK Mortgages.

C Richards

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