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REMORTGAGE ADVICE

With our remortgage advice, you could free up some money, save some money or reduce your mortgage term. Whatever it is we would love to help.

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Most people remortgage because they want to save money. This can be a lot of money.

Most people remortgage because they want to save money. This can be a lot of money.

So, saving money is the most attractive reason but you could also be coming to the end of your current mortgage term. This could push you onto the lenders SVR which can be a non-competitive rate. Our remortgage advisors can draw on years of experience to give you all the information you need to switch to a better mortgage rate. We would love to help you find the right mortgage and possibly save you some money. GHL Direct mortgage advisors are very flexible and offer appointments over the phone, via video call or face to face from 08:00 - 20:00

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Simple, stress free mortgage advice in just 3 easy steps
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Just 20 seconds is all it takes to book your fee free callback from our mortgage professional. No bank visits, no traffic or queues, just select the best day & time for you then sit back & relax, we’ll call you right back.
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Your mortgage advisor can search 1000s of remortgage rates from over 50 of the UKs top mortgage lenders. We can even get exclusive deals your own bank may not offer you.
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We’ll also help with the application paperwork for you, then chase the lender for updates to keep it stress free. Your mortgage professional is with you the whole way, just a quick phone call away when you need.
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Remortgage Calculator

Saving money and possibly reducing our mortgage term are important, but it is important that you can afford what you want. Use our simple mortgage calculator to see if you can afford to make the mortgage payments.

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Remortgage Tips

If your current mortgage deal is about to end it makes sense to shop around for a new rate. Make sure you are fully aware of the mortgage end date & if there are any early repayment charges. Its also wise to look ahead, 3 months should be enough time.

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You may already know how long you want the mortgage term to be or how much you can afford to pay but its always nice to know someone has your back. We all need a little help sometimes and our remortgage advisors offer you this support. A helping hand through the the remortgage process, from finding the right mortgage for you to helping complete the paperwork, chase the lenders and generally be on the end of the phone if you need us.

Remortgaging can be a big money saver but it doesn’t always work for everyone. Your current mortgage deal might have ERC (early repayment charges) or the set-up (arrangement) fees on a new mortgage could mean switching doesn’t make financial sense. Make sure you get the right advice before you commit, we can help you with that.

You current mortgage lender could have already contacted you if your deal is coming to an end. As your an existing customer they may offer you a good remortgage deal, but that’s not always the case. But if they do it could be cheaper, quicker and easier to stay with your current provider. Our remortgage advisors can help by comparing what’s on offer from your lender to the deals available from our mortgage panel of lenders. We can search over 15000 mortgages from 50 of the UKs top lenders.

Everyone loves to save money but do check the short term gains don’t have longer impact on your finances. You may be saving money every month but taking out a longer mortgage means taking longer to pay off your mortgage. This could cost you a lot more in the long run as you’ll pay more interest. Be sure that any new deal doesn’t extend the mortgage longer than you want it to.

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Repayment Methods

The two most common ways of repaying your mortgage are capital repayment and interest only.

Capital Repayment

On a repayment mortgage, your monthly payments will partly go towards repaying the interest accrued on the money you’ve borrowed and partly towards repaying the capital sum (i.e. the amount you borrowed).

The benefit of capital repayment is that you’ll be able to see your outstanding mortgage reducing each year (albeit very slowly in the early years), and you are also guaranteed that your debt will be repaid at the end of the mortgage term, as long as you keep up your payments. On a capital repayment mortgage, the shorter the term you pay your mortgage over the bigger your monthly payments will be.

By having a longer term, you may benefit from a lower monthly payment, but you will also pay more interest to the lender over the mortgage term.

Capital repayment is the most common way of repaying your mortgage.

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Interest Only Mortgage

For an interest only mortgage, your monthly payments will only cover the interest on your mortgage balance. The capital you owe (i.e. the amount you borrowed) will not go down and you will need to repay this in full at the end of your mortgage term. This means you will need to make a separate investment or combination of investments to generate the capital required, and you will also need to prove that you can afford to do this.

You should bear in mind that the value of investments can go down as well as up and you may not get back the original amount invested. For an interest only mortgage, the lender will need to see your plan for repaying the loan when the interest only period ends. If you fail to generate enough to repay your mortgage by the end of the mortgage term, you may be forced to sell your property.

With an interest only mortgage, you must be able to demonstrate how you will repay the capital sum at the end of the term.

Costs Involved

It’s easy to underestimate the mortgage costs involved when remortgaging your property.

Lenders may ask you to pay a valuation fee. The type of valuation you choose will depend on factors such as the age and condition of the property.

These are the costs your lender will charge you for arranging your mortgage. Some lenders will allow the fee to be added on to your mortgage, but this means you will be charged interest on it over the mortgage term.

The fees charged by a solicitor will include their conveyancing fee (i.e. for the transfer of land ownership), as well as charges for legal registrations and other miscellaneous costs (known as disbursements) such as local search fees and Land Registry fees. Some lenders may offer to finance some or all of your legal costs as an incentive.

If the amount you wish to borrow is greater than a specified proportion of the property’s value (typically 75%), you may incur a higher lending charge.

Lenders may charge an ERC if you make an overpayment in excess of any stated limit, if the loan is repaid early or if you remortgage during the early repayment period. This can amount to a significant cost, so you should always check the early repayment terms in the offer letter from your lender.

Lenders may charge a fee to release the deeds of a mortgaged property to you or a new lender.

Before we get started, we will explain how we will be paid for arranging your mortgage if it all.

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What else do you need to know?

Buying a property isn’t just about the right mortgage; it also involves solicitors, surveys and insurance. Before offering you a mortgage, your lender will instruct a survey to confirm the price you’re paying for the property is appropriate. The most common types of survey are:

Homebuyer’s Report
The report will include comments on the property’s defects and the valuer’s opinion as to its marketability
Basic Mortgage Valuation
This is for the lender’s own purposes to confirm the property provides security for the loan you have applied for.
Full Structural Survey
This report is the most comprehensive survey and is based on a detailed examination of the property you are buying.
Solicitors
You may need to appoint a solicitor or conveyancer to act on your behalf. They will undertake the legal work required to ensure the ownership (title) of the property and land transfers successfully. If you don’t already have a solicitor who undertakes conveyancing work, we can recommend one using a specialist company that provides access to a nationwide network of solicitors. Some lenders will offer to pay for the basic mortgage valuation as an incentive. You may also want to consider one of the more detailed surveys, depending on the age and condition of the property. In most cases you can use the same surveyor to carry out both surveys, but there’s nothing to stop you appointing an independent surveyor should you choose to do so. We can help you do this. Solicitors, valuers and surveyors are not regulated by the Financial Conduct Authority.

What we do for you

GHL Direct advisors offer flexible appointments over the phone, via video call, or face-to-face, wherever and whenever you works for you. We pride ourselves on being transparent, trustworthy and honest.

With GHL Direct

You will get

An appointment when you need one
Informed about any costs upfront
Help with all the application paperwork
FCA approved financial advisors
Access to over 50 of the UKs top lenders
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You get simple and professional remortgage advice

All of our remortgage advisors are authorised by the financial conduct authority, this means you can trust GHL Direct
With GHL Direct

You wont get

Pressure to take our financial advice
Made to wait weeks for an appointment
Hit you with unknown costs later on
Unregulated financial advisors
Stressed out with telephone switchboards
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Financial Advice, where you want, when you want.

MORTGAGE NOTICE

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

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