Remortgage to new lender - from first meet to full legal completion in 12 working days!! A new BeAdvised record! Read on to find out how we did it...

A new customer got in touch with their current mortgage rate ending just a few days later. They had a product switch arranged to stay with their current lender but they wanted to check it was the best option for them. Following some research we identified that they could save nearly ￡3000 in interest by switching lender. However, knowing that their current deal was about to end (resulting in a much higher interest rate), we had to move quickly to get the new deal in place.

Our journey for our client...

- Initial enquiry call

- Initial research

- Next day face to face meeting

- New mortgage recommendation

- Decision in principle

- Full mortgage application

- Document submission

- Solicitor appointed

- Physical lender valuation

- Multiple calls to lender chasing through mortgage

- Mortgage offered

- Multiple calls to solicitor ensuring milestones achieved and pushing next steps

- Former lender liaised with to set up repayment of old mortgage

- More calls chasing completion

- Legals complete and next day date set

- Legal completion achieved!!

A successful story in the end but some lessons from this experience...

- We can review a mortgage 6+ months before the end of the current deal

- Starting the remortgage process with lots of time to spare helps ensure seamless transition to the new deal and avoids incurring higher interest costs

- Never assume the deal offered by existing lender is the best option available, always seek advice

Get in touch if you’d like help with your next remortgage - even if it’s 6+ months away - get in touch and we’ll put your end date in our diary

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE