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Same Day Appointments
Let's get started today.
Quick Decisions
Stop waiting weeks to get a decision.
Transparent Advice
Don't be left in the dark anymore.
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The Journey To Your New Mortgage !
Initial
Meeting
Let’s grab a coffee (or a Zoom/call). This is where we get to know you, your plans, and your goals. Think of it as a relaxed chat to set you on the right path. You talk, we listen!
Personalised
Package
We’ll craft a mortgage plan tailored to your needs, complete with all the suitable options. We’re like your personal mortgage matchmaker, finding the best deal to make your dream become a reality!
We Do
The Rest
Leave the paperwork, lender chasing, and all the heavy lifting to us. All you need to do is sit back and relax while we make it happen behind the scenes. Our award-winning team is available 7-days a week.
Collect Your
Keys!
Your mortgage offer is in, and it’s time to pop the bubbly! Like all our 5-star customers, you are now one step closer to making your goals a reality.
Why Use Protex Financial For A Remortgage?
Here at Protex Financial, we strive to make our only focus on you; this is why we can offer the best range of Mortgage Advice with access to 1000’s of remortgage products that the market has to offer. Our mortgage brokers are able to search thousands of products to make sure you are getting the most suitable deal you can possibly get.
Our mortgage team here at Protex Financial are regulated by the FCA, the Financial Conduct Authority. This means everything we do is for you; we are obligated to offer you great rates, great deals and great remortgage advice.
We Don't Just Say It We Shout About It !
Whether you’re trying to buy your first home or remortgage with changed circumstances, get expert advice from one of the UK’s Best Mortgage Brokers to help you navigate an ever-changing mortgage market.
Simple
Fees
Mortgage Fee
£376.00
Our fee can range from £176 to £576, depending on case requirements.
Whether you’re buying your first home, remortgaging, or growing your property portfolio, we keep it transparent, simple, and straightforward. Plus, our fee is only payable once we get you a mortgage in principle.
- Access to whole of market
- Award-winning advisers
- Access to a wide range of expert solicitors
- Mortgage protection built to last
“Going above and beyond is what we do; we LOVE our job, and most of all, we LOVE helping our clients.”
If you need any form of Remortgage Advice, then make an appointment with one of our mortgage brokers today. We aim to make your home buying or family insuring process as simple as possible, keeping you informed every step of the way.
Speak with Simon & Kelly, book your FREE mortgage appointment today.
Remortgaging Tips
Before you can think about taking out another mortgage, you need to know your present deal inside out. This means familiarising yourself with things like rates of interest and monthly repayments, as well as how much is left outstanding on the loan.
Also, check for any early redemption charges or exit fees. Once armed with these facts, it becomes possible to judge whether switching lenders could save cash or secure more favourable terms. Please bear in mind that the amount of equity held in a property may affect the rates and products available. So, if nothing else, make sure you’re fully aware of what’s going on with your current mortgage; it’s the first step towards making an informed decision!
It is important to shop for the best mortgage rates and terms. Begin by using comparison websites to see what is currently being offered in the market place. Also, talk to several lenders – banks, building societies, online lenders – in order to get as many quotes as possible. Interest rates and other such details need to be taken into account when comparing mortgages; for example: how long will it take me to repay this loan? What if something happens and I can’t keep up with my payments anymore? Do they offer any flexibility options?
By looking at different deals, you can find one that suits your personal financial situation best while not settling on less favourable terms, which could save you more money in the end. Or make it simple for your self, and speak with a broker like us!
A good credit score can significantly impact the mortgage deals available to you. Check your credit report from all major credit reference agencies to understand your current score. Identify and rectify any errors that might be dragging down your score. To improve your credit score, focus on paying off existing debts, avoiding late payments, and not applying for too much new credit at once.
Maintaining a good credit utilisation ratio (keeping your credit card balances low compared to your credit limits) also helps. A better credit score can lead to more favourable mortgage terms, potentially saving you money over the life of the loan.
Consulting with a mortgage broker can provide valuable insights and help you navigate the remortgaging process. Mortgage advisors have access to a wide range of mortgage products and can offer personalised advice based on your financial situation.
We can help you understand complex terms and conditions, highlight the best deals available, and assist with the necessary paperwork. Advisors can also negotiate with lenders on your behalf, potentially securing better terms. Professional guidance ensures you make informed decisions and simplifies the remortgaging process, making it less stressful and more efficient.
Consider your long-term financial goals when remortgaging to ensure you choose a mortgage that fits your future plans. Consider any potential changes in your circumstances, such as home renovations, buying a new property, or changes in income. If you plan to move or significantly alter your financial situation, a flexible mortgage with favourable terms for early repayment or overpayment might be beneficial.
Aligning your remortgage decision with your long-term objectives ensures that you maintain financial stability and flexibility, avoiding potential pitfalls arising from unforeseen changes. Planning ahead helps you choose a mortgage that not only meets your current needs but also supports your future ambitions.
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Remortgaging Frequently Asked Questions
A remortgage involves taking out a new mortgage on the same property. Many homeowners lock into a new deal for typically 2, 3, or 5 years to ensure peace of mind.
If you have substantial equity in your home, a remortgage application may allow you to borrow additional funds. These funds can be used for various purposes, such as repaying debts or financing home improvements.
You’ll also have the option to adjust the mortgage term, either shortening or extending it to modify the monthly payments. Generally, a shorter mortgage term means you’ll pay less interest over the life of the mortgage.
Your mortgage broker can discuss these options with you and answer any questions.
If you are over 50, alternative products to traditional mortgages are available. These include retirement interest-only mortgages or lifetime mortgages, such as equity release mortgages, which may better suit your situation.
Yes, this process is known as a product transfer. As remortgage experts, we always compare your current lender’s offer with other lenders’ available offers. This comprehensive comparison is a key part of our remortgage service!
Often, lenders make it very easy for borrowers to secure a new fixed-rate deal via mobile apps or internet banking portals without first providing mortgage advice.
Without a mortgage broker, you might make costly mistakes by fixing again without fully considering all your options.
If you receive a new deal offer, consult a mortgage advisor first. We can review your lender’s offer and compare it to other options to ensure you make the best decision.
Yes, you can remortgage to repay debts. Typically, a debt consolidation remortgage involves repaying outstanding credit card or personal loan balances by adding them to your mortgage.
However, this approach is not without risk. We’ll help you weigh the pros and cons of a debt consolidation remortgage and recommend the best course of action.
Remortgaging can offer numerous benefits depending on your financial situation and goals. Here are some compelling reasons to consider remortgaging:
1. Secure a Lower Interest Rate
One of the most common reasons to remortgage is to take advantage of lower interest rates. By switching to a lower rate, you can reduce your monthly payments and save money over the life of the loan.
2. Release Equity
If your property has increased in value since you took out your original mortgage, remortgage can allow you to release some of that equity. You can use this extra cash for home improvements, debt repayment, or other financial needs.
3. Switch to a More Suitable Mortgage Product
Your financial situation or goals may have changed since you took out your original mortgage. Remortgaging allows you to switch to a different type of mortgage product that better suits your current needs, such as moving from a variable to a fixed rate for more payment stability.
4. Consolidate Debts
If you have high-interest debts such as credit cards or personal loans, consolidating them into your mortgage can be a more manageable and cost-effective way to pay them off. This is often referred to as a debt consolidation remortgage.
5. Overpay and Reduce Debt Faster
Some mortgages come with restrictions on overpayments. By remortgaging, you might find a deal that allows you to make larger or more frequent overpayments, helping you pay off your mortgage faster and reduce the interest you pay overall.
6. Improve Your Financial Flexibility
Remortgaging can also provide more flexible terms, such as taking payment holidays or switching to a mortgage with lower early repayment charges. This flexibility can be beneficial if your financial situation changes unexpectedly.
7. Avoid Reversion Rates
When your current mortgage deal ends, you may be moved onto your lender’s Standard Variable Rate (SVR), which is often higher than the rate on your initial deal. Remortgaging before this happens can help you avoid these higher rates and keep your payments lower.
Before deciding, it’s essential to weigh the potential costs and benefits of remortgaging. Consulting with a mortgage advisor can help you understand your options and make an informed decision tailored to your financial circumstances.
A trusted and experienced mortgage broker can help you compare deals and identify the most suitable options as you approach the end of your initial mortgage term. They will consider your financial goals, current circumstances, and future plans to recommend the best mortgage products available.
During your free, no-obligation mortgage consultation, we will address all your questions and provide a clear understanding of your options. We will explain each option’s potential benefits and drawbacks, helping you make an informed decision. We aim to ensure you find a mortgage solution that meets your needs and helps you achieve financial stability and peace of mind.
Whether you’re looking to secure a better interest rate, release equity, or explore alternative mortgage products, our expert guidance will support you every step of the way.
The process of remortgaging typically takes between 4 to 8 weeks, but this timeline can vary depending on several factors. Here’s a breakdown of the stages involved and what can influence the duration:
Initial Consultation and Application (1-2 weeks)
- Consultation: Meeting with a mortgage broker or lender to discuss your needs and options. This can take a few days to a week.
- Application: Submitting your application along with required documents such as proof of income, identification, and details of your current mortgage.
Valuation and Offer (2-3 weeks)
- Valuation: The new lender will arrange a valuation of your property to determine its current market value. This can take a week or two, depending on the availability of surveyors.
- Underwriting: The lender reviews your application and conducts credit checks. This underwriting process can take another week or two.
Legal Work and Completion (2-3 weeks)
- Solicitor Involvement: A solicitor or conveyancer will handle the legal aspects of the remortgage. This includes checking the title deeds and coordinating with your current lender to pay off the existing mortgage.
- Final Checks: The lender conducts final checks and prepares the mortgage offer.
- Completion: Once all checks are complete and the offer is accepted, the new mortgage is set up, and the old mortgage is paid off.
Factors That Can Affect the Timeline
- Document Readiness: Having all your documents ready and complete can speed up the application process.
- Property Valuation Delays: Availability of surveyors and the time taken to conduct the property valuation can impact the timeline.
- Lender Efficiency: Different lenders have varying processing times. Some are quicker at handling applications and underwriting.
- Legal Work: The efficiency of your solicitor or conveyancer can also influence the duration of the remortgaging process.
- Complex Cases: If your financial situation is complex or if there are issues with the property’s title, the process might take longer.
Tips to Speed Up the Process
- Prepare Documents Early: Gather all necessary documentation before starting the application.
- Choose an Efficient Lender: Research lenders known for their quick processing times.
- Stay in Communication: Regularly follow up with your broker, lender, and solicitor to ensure everything is on track.
- Clear Debts: Resolve any outstanding issues that might complicate your application, such as unpaid debts or credit issues.
When applying for a mortgage, having the right documents ready can help streamline the process. Here’s a list of the key documents you’ll typically need:
Proof of Identity:
- Passport or Driving Licence
Proof of Address:
- Recent Utility Bill (within the last 3 months)
- Council Tax Bill
Proof of Income:
- For Employed Applicants:
- Last 3 months’ Payslips
- For Self-Employed Applicants:
- At least 1 years’ Tax calculations and overviews
- At least 1-years Full accounts (if LTD company)
- For Employed Applicants:
Bank Statements:
- Latest 3 months’ Bank Statements
Proof of Deposit:
- Savings Account Statements
- Evidence of Gifted Deposits (if applicable)
Credit Report:
- A copy of your Credit Report (check now – credit report)
Having these documents ready will help your mortgage broker or lender process your application more efficiently. If you have any specific circumstances or need further assistance, our team at Protex Financial is here to guide you through every step of the mortgage process.
When your current mortgage deal ends, you have two primary options: remortgage or a product transfer.
Remortgage
Definition: Remortgaging involves switching your existing mortgage to a new one, either with your current lender or a different lender. This often includes paying off your current mortgage and taking out a new mortgage with new terms and conditions.
Product Transfer
Definition: A product transfer involves switching to a new mortgage deal with your current lender. You retain the same mortgage balance and lender, but you move to a different mortgage product offered by your existing lender.