Fee-Free Remortgage Brokers
On average, our remortgage customers save £270 a month by switching to their best remortgage deal. Let us help you make your life easier.
*£270 is the average amount saved a month by our remortgage customers over the last 4 years. Individual savings may vary, your savings will depend on personal circumstances
In this guide
Remortgage with no fees
At YesCanDo Money, we pride ourselves on taking the time to understand your individual needs when it comes to remortgaging your home. We know that everyone’s situation is different, which is why we listen to you and your needs and cater our service to meet those. We will search the whole mortgage market to find you the best rates and deals for your renovation or investment goals.
The best part? We’re a fee-free remortgage broker
Keep reading to learn more about remortgaging your property and get in touch with our advisers via WhatsApp below. Alternatively, give us a call on 033 0088 4407 and benefit from our highly rated advice and support on everything remortgaging.
How Does A Remortgage Work?
Remortgaging is usually straightforward, and can be made even easier with the services of a mortgage broker. We can help you find the best deals, saving you both time and money with the remortgaging process.
The process isn’t complicated as you are essentially replacing your old mortgage with a new one. People tend to do this when they’re near the end of their fixed-rate or discounted mortgage deal and they want to move to something with a lower interest rate. People also remortgage when they want to overpay on their mortgage or when they want to release equity in their homes. We go into further detail on remortgaging to release equity here.
You can start the remortgaging process up to 6 months before the end of your existing deal. It can take several weeks to get everything organised but once you have secured a new mortgage offer, you can transfer over when your current deal has ended. Click for more details on when is the best time to remortgage?
Known as porting a mortgage, you can switch to a new mortgage deal at any time. However, the best time is when you know you will end up in a better financial situation. So, when switching mortgage deals, you might choose to remortgage when:
- Your current mortgage fixed rate is coming to an end
- Interest rates are lower than they were when you took out your existing mortgage
- You have built up a lot of equity in your home
- When you want to overpay and your current lender won’t let you
Before your current mortgage deal ends, you have two choices.
- You can stick with the current mortgage product or,
- you can shop around for better mortgage rates / and deals.
If you do decide to switch, you can transfer from one mortgage product to another with the lender you are already with or you can move onto a new deal with a different bank.
In some cases, staying with your existing mortgage lender makes sense. They will know everything they need to know about you and the property you live in so there will be less hassle with the application process. Money can also be saved as you won’t be subject to extra legal work or fees. You simply move onto the new deal with your lender when your previous deal ends and you start making your new monthly payments.
However, if you can find a better deal elsewhere, be that through your own research or with the services of a mortgage broker, you might decide to switch. This is where it gets a little more complicated as you will need to pull together all of your financial information for the new lender. These will include your proof of earnings, such as your bank statements and P60 tax form, but if you use our services, you will help you get everything together.
The process will be familiar to you as it is essentially the same as when you first took out your original mortgage, as your new lender will assess your application and check your credit history. If all goes to plan, your new mortgage provider will pay off the old mortgage and you will start making your new monthly repayments to them.
Frequently Asked Questions
We will help you remortgage for free and our service doesn’t cost a penny!
If you want to remortgage you will need to speak to a ‘whole of market’ mortgage adviser. Start planning your remortgage 5 five months before your current fixed rate ends to guarantee your best flexibility. Compare remortgage deals with a mortgage broker like ourselves. We search the entire market to find the best mortgage deals and rates for you…for FREE!
In order to work out how much this is going to cost, there are a number of different things you need to look at. For example, you need to consider how much it is going to cost you to leave your existing deal. An early repayment charge could cost as much as five per cent or as little as nothing. You may also need to pay a ‘deeds release fee’, which is usually between £0 and £300. You then need to figure out the cost of getting your new mortgage product. This includes the mortgage fees, valuation fee, conveyancing fee, and broker fee.
You will not need to pay us any fees for our mortgage service, as it is free of charge. Talk to our UK capital city mortgage finders at YesCanDo for further information about our mortgage advice and quality services.
There is a reasonable amount of paperwork involved in remortgaging but the good news is we do it all for you. Our team know mortgages inside and out. We support you through the whole remortgage journey from start to finish. Our service is FREE so get in touch with our remortgage team to see how much you could save by switching your current mortgage product deal.
If you leave your existing lender too early there is a good chance that they will issue you a fine for doing so. This is known as an early redemption charge (ERC). At YesCanDo Money we will make sure this doesn’t happen and can advise you about when the best time to remortgage is.
If you do decide to stick with the same lender, there will be no legal work involved. However, you will need a solicitor to take care of the legal side of your remortgage if you decide to move to a new bank or building society. They will take care of all of the legal aspects of your remortgage, such as amending the Title Deed with the land registry and dealing with the leasehold checks. In some cases, the lender will insist that you use their legal team, and they will cover the legal fees themselves. If not, you should shop around for your own solicitor, being sure to compare the fees of each to ensure you get a better deal.
Coming to the end of your mortgage deal and want to remortgage to a better one? A mortgage broker can help to make this process simple and fuss-free. Remortgaging is a great idea if your interest rates are higher than the current market – remortgaging gives you a chance to save money or to release equity.
You don’t need a mortgage broker to help you remortgage, but the team at YesCanDo Money aren’t your average mortgage broker. Our team of experts will do absolutely everything they can to make things run smoothly and efficiently. They’ll work with you to assess your options by looking at things like your current mortgage deal, your financial situation and more. Our team of brokers have your best interests in mind and will help you navigate the tricky mortgage market in its current state.
How Much Does It Cost To Remortgage UK?
The overall cost to remortgage is taken on a case-by-case basis, especially if you move to a new lender. As happened when you originally took out your first mortgage, there could be fees attached to the overall cost of your remortgage. These can include:
Lots of mortgage brokers charge for their service, however, we do not. We get paid commission from the lender and choose not to charge you to help you reduce your overall cost. Below we even explain how you can avoid the majority if not all remortgage fees.
When it comes to an arrangement fee, the amount you pay will depend on the mortgage lender, but generally speaking, the lower the interest rate on the mortgage, the greater the arrangement fee will be. You can either pay the arrangement fee upfront or add it to your mortgage.
These are based on the work your solicitor has to carry out, such as conveyancing and valuations. The cost of this will be a lot less than if you were moving house, however, some lenders will waive legal fees if they choose to use their own solicitors.
We’ll help you avoid an early repayment charge
If you leave your current mortgage product before it finishes, you will more than likely have to pay your lender an early repayment charge. This won’t apply if your deal with them has ended and you are on your lender’s standard variable rate SVR (read more about standard variable rates here >). To avoid any early repayment charges, get in touch with our fee free remortgage advice team.
Your early repayment charge date which is known as your end of mortgage term date is usually on your mortgage certificate.
When remortgaging to a new lender, they will want to carry out a valuation to find out how much your property is worth. The fee is sometimes included in the remortgage deal so check with the lender first.
For an understanding of the exact overall cost involved, use a remortgaging calculator. You can find these on most lenders’ websites and on comparison sites too. You can also learn more about the fees imposed by different lenders when you decide to use our services.
In some cases, certain fees won’t apply to you, as they can depend on the lender in question. You will also save money with your remortgage when you choose our services. Mortgage brokers can take the hassle out of finding new mortgage deals, and while some brokers will charge you for their services, we don’t, as we get paid by the different banks and building societies.
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Our expert remortgage advisers can help save you money
Let us know the best time for us to call you. We’ll arrange for one of our expert remortgage advisors to talk through your situation and discuss your options.