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A Remortgage is essentially a new or additional loan that you take out on your existing property without selling it.

Commonly used at the end of a current product deal in order to save money on monthly repayments, by securing a new deal with a lower interest rate. A remortgage can also be used to raise additional funds secured against your property as a very cost effective form of lending.

Other reasons may
  • Home improvements
  • debt consolidation
  • financing a large one -off purchase
  • raising a deposit to purchase an additional property
  • more flexible mortgage terms/reduce mortgage term
  • change in circumstances

Whatever your reason
TMS can help source the best product from our panel of lenders for your needs.

As well as re-mortgaging there are a number of different ways that additional funds can be raised against your home including, a further advance from your existing lender, unsecured loan or second charge mortgage.

We will always compare these options against a re-mortgage to ensure we recommend the best deal for you.

Do I need to prove what I am going to spend the money on?

The majority of lenders will want to know how you intend to use the extra funds. When applying for additional mortgage borrowing, the lender may ask for documentation of how you intend to spend the money.

How long will it take to get the additional funds?

This can vary between lenders and also depend on your personal circumstances. We can ask you lender at the time of application for an estimation of how long it will take for approval, to provide you with an idea of timescales.

Want to find the right
re-mortgage deal?

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.