Seico Mortgages are our in-house independent mortgage advisors who give impartial advice. Here they answer some of their most frequently asked questions when it comes to remortgaging.
What is a remortgage?
A remortgage is essentially replacing your current mortgage with a new one, secured on the same property.
Why do I need one?
It is mainly done either to save money on repayments or perhaps to release some equity in your property. Often it is done once your fixed mortgage rate time is finished and you move to a variable rate. A remortgage gives you the opportunity to fix the rates again.
How do I go about getting the best terms for me?
We will conduct a fact find which will allow us to source the best possible mortgage for your individual needs and take all the work off your hands.
How complicated is it?
All our advisers are fully qualified and can take all the complexity out of the process for you. We will simply illustrate the options and make sure that the journey is as easy as possible.
How long will it take?
On average, the mortgage is fully agreed inside seven days, with the legal process taking about 4-6 weeks.