See the best home improvements remortgage options available to you…

By remortgaging, you’ll be presented with the latest options on the market, including products with the most competitive rates and repayments. Options could include flexible remortgage deals that allow you to make overpayments or underpayments, and there are options to take payment breaks that may better suit your financial circumstances. Many customers take the opportunity to remortgage and raise funds as well as to repay the existing mortgage. There are many reasons that additional funds can help you. Home improvements, an expensive purchase or consolidating expensive loans and credit cards to make a fresh start, finances are more easily managed by borrowing at a competitive rate that a remortgage can offer.

When your current mortgage deal ends, your lender will normally put you on a Standard Variable Rate (SVR), which can be a higher rate than you are paying now, so by switching to a new deal you could avoid a rise in monthly repayments.

The value of your property may have gone up too, increasing your equity. This could put you on a lower loan-to-value (LTV) band, which means you will have a greater choice of products and be eligible for a competitive rate.

You could decide to pay off your mortgage at any time, but most homeowners do this when their current deal ends, to avoid early settlement fees. The best time to start looking for a new remortgage deal is up to 6 months before your current deal ends. This allows you to review rates and consider changing circumstances that may affect the mortgage type or amount you may require. You can also apply and hold your deal until it’s time to start your new repayments.

If you apply online, you’ll see a big difference in the speed and efficiency of the process. You can expect to be able to review and compare your remortgage options within minutes of starting the application. You can save your information securely and return to update or progress your application whenever it’s convenient, day or night. Documentation can also be uploaded online too, making things efficient and speeding up the process even further.

Online doesn’t mean you’re on your own either. Deal Direct’s specialist mortgage advisors will support you all the way with guidance on product options, progressing your application, and helping you to make an informed decision that you’re 100% happy with.

It’s important you review all your possible options to get the best remortgage deal to suit your circumstances. As a specialist broker with expertise in mortgages, Deal Direct can access the UK-wide mortgage market to provide exceptional choice.

We review each individual case with diligence, accuracy and understanding, to arrive at the right mortgage product with the very best outcome. This is especially important when lending rates are volatile and the cost of living is high, so it’s more important than ever to compare your options using a thorough, fast and accurate search – starting with DirectQuote.

When moving from your current mortgage deal to a new one, there are certain fees and charges that you will pay, whether you stay with an existing lender or go with a new one. Some brokers may offer fee-free deals or there could be a range of different fees and charges to pay, including arrangement, early-exit, legal, administration and valuation fees.

A new remortgage deal can usually be completed in four to six weeks from application, however it depends on your personal circumstances. For example, do you want to borrow more than the current mortgage, have there been changes in property value or household income? So, with minimal change in personal finances, you can expect your deal to progress in just a few weeks.