Can i remortgage with the same lender

This expands your horizons when searching for your perfect mortgage product. After assessing your circumstances, we will only show you the deals which we think will work for you, saving you both time and energy and possibly avoiding confusion and a string of rejected applications.

We are also here to offer as much independent advice as you need. Get in touch with our team of experts at Mortgage Light for impartial advice and guidance on remortgaging. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Should I remortgage with the same lender? The advantages of remortgaging with the same lender are: There are generally less fees to pay as you are able to avoid legal costs and valuation fees.

Your current lender will do an internal index linked valuation of your property to give an approximate value of your home at the current time.

Depending on the new valuation, the lender will give you a choice of products to choose from. This could be at a new loan to value threshold, due to changes in the market and equity built up. Mortgages Buying a home. Moving home. Thank you! Your submission has been received! Save time To remortgage with a new lender, you need to start looking into available options months before your rate expires. Cashback and freebies Lenders often throw freebies into their remortgage deals, like zero solicitor fees, cashback offers and free valuations.

Should I remortgage? But by choosing carefully, you may be able to save even more money, potentially getting a better rate than you were on in the first place. Secondly, mortgages are their bread and butter.

In short, remortgaging with the same lender is normally as easy as pie. But remortgaging with a new lender is pretty easy too — especially if you get a mortgage broker to sort the whole thing out for you. Better still, by switching lenders, you could save thousands of pounds each year. Most lenders will offer you one for free, to encourage you to join them. If you remortgage with the same lender, the whole thing can often be sorted in just a few days. Check our guide to how long a remortgage takes for our recommended timeline.

Want a friendly word of advice? Get an independent mortgage broker who can search the whole market involved. Some will even do it for free! But you could save thousands by changing mortgage lenders! Only then can you know for sure which is the best option. Yes, that might mean sticking with the same lender. It can be tempting to do the easy thing by sticking with the same lender for another few years. A product transfer is what banks call it when you remortgage with the same lender.

Why remortgage with the same lender? Mainly because remortgaging with the same lender — doing a product transfer — is easier. With a Product Transfer, there's none of that. Why shouldn't you product transfer or remortgage with the same lender? Product transfer gives you a handful of deals to choose from, not 10, deals As mentioned, your lender will allow you to switch to only a few new deals. You'll miss out on a new property valuation and possible a new LTV When you remortgage with a new lender, they will carry out a full valuation on your property — something that is not always the case with a product transfer.

If your LTV increases, you can get access to better mortgage rates. You can't get a more flexible mortgage When you first apply for a mortgage and you just want to get on the property ladder, most people will admit, paying it off is at the back of their minds.

Full affordability assessment. See your remortgage options then apply It takes a few minutes to find out exactly how much you could save with Mojo helping you remortgage. Get my best rate. Remortgage guides Here's a few other articles you may find useful. Get this remortgage deal right and never regret another mortgage payment again Find out more.

What are your early repayment charges? Let's see if it's worth switching for Find out more.