Remortgaging Guide

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A Guide to Mortgages for Those Remortgaging

Remortgaging can happen more frequently than you think. For example, every time your deal comes to an end you’ll want to remortgage. If you don’t, you run the risk of going onto the lenders standard variable rate which is often a lot higher than other rates offered by other lenders.

Remortgaging can potentially save you thousands of pounds over the lifetime of your mortgage and here’s the good news… When you arrange your mortgage with us, we’ll look after you for the rest of your life and always make sure you’re on the best deal for you at any given time.

Please bear in mind remortgaging involves a whole new application to another lender and will require solicitors to deal with the legality side of things. This is why it’s crucial for you to get advice from an expert on what your options are and the best way for you to proceed. AL Mortgage Solutions will search the whole market for you, find you the best deal and process the whole application from start to finish.

What is Remortgaging?

A remortgage simply means switching from one lender to another either to get a more suitable deal.

Why should you remortgage?

You might think your current lender will offer you the best deal out there but I’m sorry to say that often isn’t the case. This is because they will only offer you what they have available, they won’t look at competitors products to find the best deal for you.
We will, and we’ll do one better… we’ll also check with your current lender and let you know if staying with them works out best.

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

When Should I Remortgage?

When your initial rate is coming to an end (i.e. the end of your 2 year fixed rate)

The best time to do this is 3 – 6 months before the end of your initial rate period (fixed, tracker, etc) as it takes a long time for everything to be finalised. It can be done quicker, but it’s always best to be on the safe side. This means you’ll have a nice smooth change over from one lender to another… as soon as one deal finishes the other one starts.

When rates are low (lower than when you took out your original mortgage)

The best time to do this is 3 – 6 months before the end of your initial rate period (fixed, tracker, etc) as it takes a long time for everything to be finalised. It can be done quicker, but it’s always best to be on the safe side. This means you’ll have a nice smooth change over from one lender to another… as soon as one deal finishes the other one starts.

When you want to borrow additional funds

There other many other reasons you may want to remortgage. You may want some additional funds to do an extension, buy a car, get married, pay off credit cards and loans, etc and the good news is, these reasons are all acceptable. But the bad news is, not to every lender. That’s where we come in… we’ll speak to you to find out exactly what you want to do, advise you on the best lender to go with and then complete the whole transaction for you.

When your home has increased in value

One of the best things about buying a house is the rate at which it can increase in value. Sometimes it will increase in value quicker than you imagined and you could suddenly find yourself with a large amount of equity sitting in your home. Lenders will generally give you a much better rate if the amount you owe them is much lower than the value of the property. This is looked at as a % and is known as the loan to value (LTV). The lower the LTV, the better the rate. Speak with our advisers to find out if you can get a better deal today.
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“We know the stress and hassle surrounding buying a new home, retmortgaging your existing home or making your first step onto the property ladder. Our team do everything we can to take that stress away to help you enjoy your new home.

With a personal approach for each of our customers with your own dedicated mortgage broker to answer any of your questions and provide you with the support to ensure a seamless Mortgage application and funding process. “

Alex Leppert

Owner & Mortgage Broker, AL Mortgage Solutions

What our Customers Say

Don’t just take our word for it, read what our fantastic customers have to say about their experience with AL Mortgage Solutions.Β 


Excellent
Based on 79 reviews
Ian Harte
Ian Harte
02/08/2021
Normally don't leave reviews, however Alex and Emily were absolutely fantastic with answering questions and handling our first mortgage application. Excellent communication with fast, professional & friendly services! Highly recommended!
Chloe Manning
Chloe Manning
21/07/2021
Me and my boyfriend went to Alex at AL mortgage solutions after a few recommendations from friends and also some really reviews I had seen via Instagram. I had done some shopping around and messaged a few mortgage advisors but Alex got back to me so fast and answered all my initial questions. We chose to go with Alex and his team and we were so glad we did! He was there to answer all of our questions as well as sorting us the best mortgage deal even when times were uncertain with Covid. He made the process as easy as he possibly could and we we’re very happy with the service Alex and the team provided. Thanks again
Kate Crowe
Kate Crowe
20/07/2021
I couldn't fault Alex, he support our application at every stage. He answered all my questions in a easy to understand manner and made me feel completely at ease throughout! I will absolutely be contacting him again when I need my mortgage reviewing.
James Denham
James Denham
17/06/2021
AL Mortgage solutions was recommend by a friend and we are so glad we went ahead with them Excellent service from start to finish, kept us updated at every stage. Alex made the whole process so easy and smooth, would 100% recommend!
Rob May
Rob May
04/06/2021
Al and the team were brilliant from start to finish. Always at the end of the phone no matter what time of day. Would highly recommend AL Mortgage solutions LTD to anybody looking to purchase a home.
Callumj17 j
Callumj17 j
25/05/2021
Alex is a superb mortgage advisor! He is very honest, professional and also down to earth which made things so much easier. He is always available for any questions needed regarding moving house and mortgage advise. I would recommend Alex to anyone for mortgage advise and will continue to use him in future!. Thanks Alex!
Lauren Woodward
Lauren Woodward
21/05/2021
So happy with the quality of service Alex offers, he was on hand any time I needed help or was unsure of what documents he needed. He sorted all the mortgage stress free and the welcome to your new home hamper was a lovely touch. I would 100% recommend!
Joshua J
Joshua J
12/05/2021
Brilliant. Really worth getting in touch if you have no knowledge on mortgages as Alex is really helpful and let's you relax while he does the work. Made up I sent a message as I'm now in our new home from starting it all with him πŸ™‚
Lisa Hill
Lisa Hill
29/04/2021
Alex made everything easy for us he done all the hard work for us and made what didn't feel possible, possible πŸ™‚ in just under 5 months of seeing Alex for the first time we became home owners probably sooner if we wasn't so fussy on houses. Highly recommend Alex 100% even if it just for advice he's the best person for it. Lisa & Brad thank you Alex once again.
Lynsey Young
Lynsey Young
29/04/2021
Alex is friendly, approachable and professional. He has gone over and above on many occasions for myself and family members who I have recommended him to. Nothing is ever too much trouble and the advice he gives has been tailored to my individual needs. I can't recommend Alex and his team enough!

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