At L&C our expert mortgage advisers will review your circumstances and tell you whether it is worth remortgaging. If it is, we can have a further discussion around your plans for the future to make sure your mortgage works for you.
When you speak to one of our advisers you will probably know most of the information off the top of your head. However it is useful to know what information we'll need to be able to help you:
We’ll need to know your current balance, term and monthly payment. If you are looking to pay your early repayment charge to get a better rate now we’d also need to know the details of your current mortgage interest rate and the specifics of that early repayment charge.
Your current mortgage details:
It’s also important when we are checking the lenders affordability calculation that we give them accurate figures for any other commitments. The most common ones would be any loan payments, credit card balances, childcare costs and pension payments. It’s also important to include any additional mortgages and properties you own.
Other debts and regular outgoings:
Accurate income details are very useful. Splitting up basic salary with bonuses and overtime separated is also important as different lenders will interpret this differently. If you are self employed it’s not quite as straightforward as a payslip but generally speaking if you have your latest 2 tax returns to hand that will contain all the information we need.
No-one can predict the future but you should definitely let your adviser know what your plans are. Particularly important would be any planned moves, home improvements or changes to your financial situation.
Your future plans:
There are many reasons why you would remortgage, if you aren’t sure then we have summarised the main ones in our guide here.