Put simply, remortgaging is where you switch your mortgage to another lender. This is normally done when your mortgage deal comes to an end and can be a way to save money (by securing a lower interest rate thereby reducing your monthly payments or reducing the term of the mortgage). It can also be used to release capital to pay for things like home improvements on your home.
Find out how to do an Existing Borrower Transfer to secure a new mortgage deal.
Before you make any decisions on changing to another mortgage deal, it’s important that you find out all the costs involved. A new mortgage deal that reduces your monthly payments could look attractive but there may be fees and/or charges to pay when you switch. Other things to look out for:
When beginning the remortgage process you should first check when your current mortgage deal ends and when you will be able to move the mortgage. You should also look into whether there are any charges to move from your existing mortgage deal. You can ask your Lender to send you a redemption statement which will tell you how much you need to repay your mortgage, including any Early Repayment Charges (ERCs).
Before looking at our range of mortgages and the different types of products we offer, you should check what mortgage deal you can afford and how much the payments would be by using our mortgage calculators :
How much can I borrow?
Find out how much we may be able to lend you
How much will it cost?
Get a quick estimate of your mortgage payments
If you’re unsure of the mortgage types on offer and what they mean you can read the information on the right hand side of the page or you can view our mortgage guide . Alternatively the links below will take you directly to our mortgage products:
If you’re still unsure you can always speak to a qualified Mortgage Adviser in one of our branches or call us on 0345 166 9242.
It's always good to have choices. That's why you can choose to apply for your remortgage at your local branch , online or over the phone – whichever suits you best.
Select a mortgage product from the links in Step 2 to start your remortgage application.
With both Fixed rate and Tracker mortgages, you can choose to link your mortgage to your savings with an Offset mortgage:
To find out more about our mortgages, you can view our guide to mortgage types.
Use our search tool to see our remortgage deals and find out if we could help reduce your mortgage payments.
As well as the main benefits of remortgaging, there may be other incentives available. Some of our mortgage products come with Remortgage Legal Service which will cover the legal costs of moving your mortgage to us, and Free Valuation, which covers the standard mortgage valuation cost on selected products. You can find out more about these services in this section.
On selected products, we'll cover the cost of a standard mortgage valuation. Please note that this excludes second or subsequent valuations and does not include homebuyer's surveys, building and structural surveys or specialist reports. If you decide to change the loan amount you need after we have the valuation, you may be asked to cover the costs of a new valuation.
On selected products, we'll cover the legal costs** we've agreed with Optima Legal to complete your mortgage move to us. There shouldn’t be any other additional costs, but it's worth noting that this service is only for standard remortgages where the title of your property is registered freehold (heritable in Scotland), or leasehold.
Here's some things to be aware of. You can only take advantage of our free legal service if you apply directly with us and not through a third party. Also, we won't be able to cover:
We'll ask you to pay any extra costs that aren't directly related to your mortgage transfer to our legal service provider, including any reasonable expenses we incur if your mortgage doesn't complete.
**There’ll be a charge of £35 plus VAT made by Optima Legal for transferring the funds to repay your existing mortgage.
Enter a town, city or postcode to find your nearest branch.
If you’re not sure which mortgage is right for you, why not speak to one of our mortgage advisers?
Our online tool will provide you with a comprehensive summary of any product available to you, including the amount of the monthly payments and any fees which you must pay.
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SVR. APR. LTV. We'll spell everything out for you. It's not mortgages that are confusing. Often it's the jargon that comes with them. So at the Yorkshire we explain everything in plain English. Simply. Clearly. In language you can understand.
If there's anything on here you don't understand about mortgages just ask. Alternatively, our mortgage advisers are here to help.
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