Remortgaging

How We Help You Remortgage

At Moneybox Financial Management Limited, we make the remortgaging process simple and stress-free. Whether you're looking for a better rate, releasing equity, or consolidating debt, our experts provide tailored advice to help you secure the right deal. With over 30 years of industry experience, we compare thousands of mortgage products to find the most suitable option for you.

Our service includes:

• Searching the market for the best remortgage deals
• Managing the entire application process
• Providing expert advice on fees, terms, and savings
• Ensuring a smooth transition from your current mortgage

How Does Remortgaging Work?

Remortgaging means switching your existing mortgage to a new deal, either with your current lender or a new one. The process typically involves:

1. Reviewing your current deal – Checking your existing interest rate and any early repayment charges.
2. Comparing new options – Finding a mortgage that better suits your financial goals.
3. Applying for the new mortgage – Submitting paperwork and affordability checks.
4. Paying off your old mortgage – The new lender settles your previous mortgage, and you begin repayments under the new terms.

When is a Remortgage Suitable?

A remortgage can be a smart move in several situations:

• Your current fixed-rate deal is ending, and you want to avoid moving to a higher standard variable rate (SVR).
• You want to secure a lower interest rate and reduce your monthly repayments.
• You need to release equity from your home for renovations, investments, or other financial goals.
• You want to switch from an interest-only mortgage to a repayment mortgage.
• You’re looking to consolidate debts into your mortgage for easier management.

When is a Remortgage NOT Suitable?

Remortgaging isn’t always the best option. It may not be right for you if:

• You have high early repayment charges that outweigh the benefits of switching.
  Your credit score has dropped, making it harder to secure a better deal.
• Your home’s value has fallen, affecting your loan-to-value (LTV) ratio.
• You only have a small amount left on your mortgage, as fees might not make switching worthwhile.
• You’ve recently changed jobs or become self-employed, which could affect lender eligibility.