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Remortgages & Product Transfers
What is a Remortgage?
A remortgage or product switch is in simple terms selecting a new product or lender for when your current deal expires.
A lot of mortgage products have an end date whether this a set time from when it was taken out -such as 2 or 5 years, or an actual end date like 31/03/2025.
After this period has ended, you will likely revert to your lenders standard variable rate which is often higher than the initial rate that you have been on.
What is a Product Transfer/Switch?
A Product Transfer or Product switch is where we decide it is better to stay with your existing mortgage provider and switch your current deal onto a new one with them.
Your mortgage adviser will review your individual situation, the deals available and provide you with the most suitable recommendation
When should I be looking at a new deal?
Typically you can reserve a new product around 6 months before your existing deal expires, so 6-8 months would be a good starting point.
What Documents would I need?
It depends on the lender as they are all different, but here is a guide to some of the documents that would be useful for your adviser to have:
ID (such as driving licence/passport)
Last 3 months payslips and P60
Last 3 years accounts or SA302 forms if Self Employed.
Last 3 months bank statements
Last mortgage statement