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Remortgaging Advice

Backed by over 40 years’ experience, Ward Goodman provides independent remortgage advice to help you secure better terms, save on costs, and make confident long-term decisions.
  • Independent remortgage advice from qualified specialists
  • Access to a wide panel of lenders and competitive deals
  • Tailored support whether you’re switching lender or staying put
  • Free, no-obligation meeting in Dorset or online
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What Is Remortgaging?

Remortgaging means replacing your existing mortgage with a new mortgage deal, either with your current lender or a different one, while staying in the same property. It’s a common strategy to manage your mortgage more effectively without moving home.

When you remortgage, your old mortgage is repaid and replaced with a new mortgage, often with updated terms, interest rates, or borrowing amounts. Many homeowners remortgage to secure a better interest rate, reduce monthly repayments when a fixed-rate deal ends, release equity, or consolidate other debts.

What Are The Benefits Of Remortgaging?

Save Money on Interest

If your current deal is ending and you move onto your lender’s standard variable rate (which can be much higher), a remortgage can offer lower, more competitive rates, potentially reducing long-term costs.

Secure Better Terms

Remortgaging lets you renegotiate the length of your mortgage, switch between fixed and variable rates, or adjust repayment structures to suit your goals.

Release Equity

By increasing your borrowing when remortgaging, you may be able to release equity built up in your home for home improvements, deposits on additional properties, or other financial needs. Consult a professional before increasing borrowing.

Debt Management & Flexibility

A remortgage can help streamline finances, such as consolidating higher-interest debts into your mortgage (where appropriate), though this must be weighed against extending mortgage costs. Expert advice is essential.
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Are You Eligible to Remortgage?

Before considering your remortgaging options, it’s useful to understand the key criteria lenders typically assess when reviewing applications. While individual lender requirements vary, there are common expectations across the market.

In most cases, you’ll usually need to:

  • Have an existing mortgage that you want to replace or review (remortgaging is not available without a current mortgage).
  • Be a UK resident (some lenders may also consider long-term non-UK residents on a case-by-case basis).
  • Have a satisfactory credit history with no recent major defaults or arrears that could affect lender confidence.
  • Demonstrate affordability and income - lenders will review your income and outgoings to ensure you can afford the revised payments.
  • Provide details of the property being remortgaged, including its value, condition, and any outstanding liens or loans.
Eligibility can vary significantly depending on the lender, product, your overall financial profile, and the exact reason for remortgaging (e.g., reducing payments, releasing equity, consolidating debt, etc.). A full review with one of our advisers will confirm whether remortgaging is suitable for your circumstances and which products you’re most likely to qualify for.
Find Out If You Are Eligible

What You Need To Apply

To start a remortgage application, lenders will typically ask for a set of financial and personal documents so they can assess your suitability, affordability and verify your current mortgage details:

  • Current Mortgage Details Include your existing lender, outstanding balance, product end date and any early repayment charges.
  • Proof of Identity & Address Documents such as passport, driver’s licence or a recent utility bill.
  • Income Evidence Recent payslips if employed, or latest 2 years SA302s/tax returns if self-employed.
  • Bank Statements Recent statements showing income, outgoings, and any regular commitments.
  • Credit History Information Details of any outstanding loans, credit cards or adverse records that could affect affordability checks.
  • Property Information Valuation or survey reports, details of leasehold/freehold, and any recent improvements or issues.

How To Apply

To apply for a remortgage you’ll typically:

  • Check Your Current Mortgage Position Review your product end date, interest rate and any early repayment charges so you know when to act.
  • Book a Consultation With an Adviser One of our remortgage specialists will help identify suitable lenders and products tailored to your situation.
  • Gather Required Documents Submit proof of identity, income evidence, bank statements and mortgage details to support your application.
  • Submit Your Application This may be completed with support from your adviser or mortgage broker who will handle the lender submission and chase updates on your behalf.
  • Complete and Switch Once approved, your adviser will help with the legal and administrative steps so your new mortgage replaces your existing one smoothly.
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Meet Our Remortgage Advisers

Our remortgaging advisers offer an independent advice, helping you explore your options and find you the most suitable mortgage.

Adrian Seager

Financial Planner

Meet The Wider Team

Our Property Finance Services

Buy-to-Let Mortgages

Helping landlords and investors secure financing for rental properties, ensuring the best mortgage rates and terms for long-term profitability.

Re-Mortgaging

Reviewing existing mortgage deals to secure better interest rates, reduce monthly repayments, or raise additional capital.

Equity Release Schemes

Guidance on accessing capital from your home through lifetime mortgages or home reversion plans while maintaining financial stability.

First-Time Buyer Mortgages

Helping first-time buyers navigate the mortgage process, ensuring access to competitive rates and government-backed schemes where applicable.

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Frequently Asked Questions

Below you will find the most common questions we are asked about remortgaging.

Remortgaging means replacing your existing mortgage with a new one on the same property, either with your current lender or a different provider. The new mortgage pays off your old one, and you start a fresh agreement with updated terms, interest rates and repayments. People remortgage to secure better deals, reduce costs, release equity or change the way they repay.
The best time to look into remortgaging is usually up to six months before your current mortgage deal ends, when your fixed-rate term is coming to a close. This helps you avoid reverting to a more expensive standard variable rate and gives you time to compare options.
How much you could save depends on the difference between your current rate and the new rate you secure, as well as fees. Remortgaging to a lower interest deal can reduce your monthly payments and overall interest costs over time, but it’s important to factor in arrangement, valuation and legal fees when calculating total savings.
Yes – you can potentially release equity by taking out a new mortgage that is larger than your current one. The extra amount above your existing balance can be taken as cash. This is different from specialist equity release products like lifetime mortgages, which are usually for those aged 55 or over.

Remortgaging can involve several costs, such as:

  • Arrangement or product fees from the new lender

  • Valuation and legal fees for the property

  • Early repayment charges if you leave your current deal before it ends

  • Potential conveyancing and survey costs

These should all be weighed against potential savings.

Remortgaging itself doesn’t automatically harm your credit. However, lenders may carry out either a soft credit check (which doesn’t show on your file) or a hard credit check (which does). Multiple hard checks in a short period – especially if you’re declined by several lenders – can have a negative impact on your credit score.
Yes – you can remortgage if you’re self-employed or have irregular income, but lenders will want evidence of income stability. This typically comes from business accounts, tax returns and trading history rather than standard payslips.
Yes, you can remortgage before your fixed rate term ends, but doing so may trigger an early repayment charge (ERC) from your current lender. If you’re within the early part of a fixed deal, consider whether the savings on the new rate outweigh any penalties.

To remortgage, lenders usually ask for:

  • Proof of identity and address

  • Income evidence (e.g., payslips, tax returns if self-employed)

  • Bank statements

  • Details of your current mortgage and property

These help lenders assess affordability and risk.

Using a qualified mortgage adviser can be very valuable. They can compare deals across multiple lenders, explain fees and suitability, and help find a product that fits your specific needs – especially if your situation is complex or your income is non-standard.
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How Our Property Finance Experts Can Help

Tailored Property Finance Advice 
Our financial specialists provide tailored advice for individuals, investors, and businesses looking to finance property purchases or release funds from existing assets.

Mortgage & Refinancing Solutions
Whether you’re a first-time buyer seeking guidance on mortgage options, a landlord expanding a property portfolio, or a homeowner looking to refinance, we help you access the best financial products for your situation.

Equity Release & Wealth Unlocking
 We also offer expert support on equity release schemes, allowing homeowners to unlock value from their property in a tax-efficient way while maintaining financial security.

Market-Wide Lending Support
 With access to a broad range of lenders and mortgage providers, we ensure you receive unbiased, market-wide advice to secure the most competitive terms.

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The Process

A hassle free onboarding process

Initial referral or inquiry

Whether you’ve been referred or inquired yourself, our team will reach out to you in a timely manner

Free consultation

We offer a no-cost, no-obligation meeting at one of our offices, or over the phone

Quote and setup

We’ll provide you with a tailored quote and when you’re ready, our tax advisors will begin services

Book a Meeting

If you would like to discuss further, please book a meeting with an experienced member of our team. Simply let us know when’s best for you and we will get in touch to arrange a suitable time.

Why Choose Ward Goodman?

Client satisfaction is paramount to us. We have a broad range of clients, and we endeavour to offer them the best tax planning service possible through continuous improvement and focus on doing things right the first time.

Experienced Advisors & Accountants

Our Dorset-based team can advise and support any size of business locally or nationwide.

Bespoke Financial Advice & Tax Planning Service Packages

Flexible, bespoke service covering all aspects of tax planning.

Access to a Full Team of Finance Experts

From our Financial Advisors to Pension Advisors.

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Ward Goodman’s excellence in accounting and tax advice is validated by notable awards and accreditations within the UK financial industry.

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We are accredited by the Association of Chartered Certified Accountants (ACCA)

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We are accredited by the Association of Chartered Certified Accountants (ACCA)

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Ward Goodman proudly holds membership with the Institute of Chartered Accountants

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Need advice? Our team of financial experts can help.

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