Remortgage

Established in 2009, Goldmanread is a trusted remortgage expert in Essex. We specialise in providing mortgage advice to professionals and guide them through a structured mortgage process to ensure they secure the best deal for their circumstances.

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Welcome to Goldmanread, remortgage brokers in Essex

Finding the right mortgage broker is essential to access the most competitive remortgage deals on the market. At Goldmanread, we specialise in mortgages for professionals and believe they deserve nothing less than the best service and mortgage advice.

We are proud to have served professional mortgage clients in Essex since 2009 and are proud of the feedback received about the quality of our service. When it comes to remortgaging, you can rely on us to guide you through the process and to help you make informed decisions that align with your short and long-term financial goals.

With our experience, dedication, and personalised approach, we are your ideal partners for a successful remortgaging journey.

Contact us today to arrange a free initial consultation.

What is a remortgage?

A remortgage is simply a way of replacing your existing mortgage when (or before) it expires.

Most people seek to remortgage when their current mortgage term expires, but there are many reasons for remortgaging, such as:

  • to release equity from your property

  • to find a more competitive mortgage rate to reduce monthly repayments on your mortgage

  • to consolidate debt

  • to remortgage your existing buy-to-let property to a lender who will allow short-term letting, e.g. via Airbnb.

Typically, mortgage deals last for a defined period of time i.e. 2, 5 or 10 years. The UK mortgage market is extremely competitive, with a range of mortgage rates and terms on offer, so it is wise to explore your options fully.

One of the main advantages of the UK mortgage market is its size. It is highly competitive, with a wide breadth of banks, building societies and specialist lenders, meaning most consumer borrowing needs can be met.

Working with a mortgage broker ensures that you have access to the best mortgage available for your circumstances and can save you valuable time and effort in applying for and securing the right deal.

What happens at the end of my current mortgage term?

At the end of the mortgage period, you are free to either choose a new deal with your existing lender or seek another deal with a new lender. If you take no action, you will move to your current lender’s Standard Variable Rate, which is usually the least competitive option. So it’s important to consult a mortgage broker to find the most affordable remortgage deal.

Remortgaging for equity release

At the point of remortgaging, there is also the option to release equity from your property. This simply means taking cash out of the property via a remortgage to be used for some specified purpose, for example, home improvements.

Generally, a bank will allow you to release equity for any legal purpose, though many lenders will reject applications for equity release for business purposes, investment, or to pay a tax bill.

When should you start the mortgage process?

Most banks or building societies issue offer letters valid for around 6 months, so it is best to consult a mortgage broker when you have around 6 months left on your current mortgage. By applying in good time, you can ensure that your mortgage moves smoothly from one deal to another without incurring a higher interest rate before your new mortgage completes.

Applying in good time for a remortgage is also particularly useful in a time of interest rate uncertainty. It’s important to bear in mind that you are not committed to a particular mortgage offer until the day you actually complete it. Once you have accepted a remortgage offer, the mortgage rate will be secure for the duration of the offer, meaning that you are protected from interest rate increases.

The remortgage application process

The remortgage process involves a number of stages.

  • Firstly, you must decide how much you want to borrow. Do you just require a mortgage to repay your existing mortgage, or do you want to raise capital for some other purpose such as home improvement, debt consolidation or perhaps a deposit on a dependant’s first property to help them get on the property ladder?

  • Once you have decided how much you want to borrow, it’s recommended to consult a mortgage advisor, ideally one regulated by the Financial Conduct Authority, who can source the right mortgage deal for you. You can find a list of approved mortgage advisers on the FCA’s financial services register. Goldmanread is registered under 502703.

  • Once you have decided on the mortgage broker you wish to work with, they will make an assessment of your income, existing debts/commitments, the equity in your property and the market value of your property. They will take the time to understand your goals and then approach appropriate lenders to find you the most competitive deal.

  • Then you must gather together all of the necessary supporting documents in order to submit the mortgage application. Once you have decided on the best mortgage deal, your broker will make the mortgage application on your behalf.

  • On application, all of the supporting documents are submitted to the lender. If they are satisfied with these documents and if your credit history is sufficient, the lender will instruct a valuation to confirm the market value of your property.

  • Subject to their assessment, the lender will issue an offer letter. The process will then be handled by a solicitor/licenced conveyancer who will manage the remortgage process along with your broker until the mortgage completes.

Remortgages for working professionals

Many banks offer enhanced mortgage interest rates to working professionals.

It’s important to work with an experienced mortgage broker like Goldmanread, who can provide advice on a suitable deal and who will ensure the repayments on your mortgage are manageable.

There is likely to be a wide range of mortgages available to you. The best mortgage deal depends on your requirements, whether that is the one with the most competitive fixed rate or perhaps one that allows you to release the most money to fulfil your goals.

Why choose Goldmanread as your remortgage broker?

When it comes to remortgaging, Goldmanread stands out as a trusted and specialised choice for professionals in Essex and beyond. Having been established in 2009, we have dedicated ourselves to offering an unparalleled level of expertise in the mortgage and insurance brokerage sector. Our primary focus is on professionals, and we understand the unique needs they have when it comes to remortgaging.

One size does not fit all when it comes to remortgages. Whether you’re looking to remortgage for better rates, to release equity, or for any other reason, we will work tirelessly to find the best mortgage deals for your circumstances.

We pride ourselves on treating our clients as human beings, not just as numbers on a ledger. When you choose Goldmanread, you’re choosing a broker that cares about your financial well-being and understands the importance of finding the right remortgage to suit your career stage, financial situation, and future plans. Many of our satisfied clients return to us time and again, a testament to the quality of service we provide.

To find out more about how we can help you to get a mortgage, contact us to arrange a free initial consultation.

Frequently asked questions about remortgaging:

When working with a mortgage broker, it typically takes around 10 working days to secure an offer letter from a lender.

 

Most mortgage brokers insist on a structured mortgage advice process before recommending any specific mortgage deals.

 

In terms of actually completing a remortgage and receiving the money, this can take anything between 3-6 months, depending on the expiry date of your current deal.

Remortgage providers require you to gather documents such as:

 

  • Proof of income - payslips, P60s, self-employed income proof.

  • Bank statements - typically the last 3 months.

  • Credit report.

  • Proof of ID and address.

Lenders have tightened their lending criteria over the last few years, so the application process can be challenging. Working with a mortgage broker can make the remortgage process simpler and more straightforward, giving you a single and reliable point of contact throughout the application process.

Mortgage advisers that work for a bank or building society can only offer products from that lender, which is very limiting. By working with an independent broker like Goldmanread.co.uk, you can be sure of accessing deals from a wide variety of lenders. Most mortgage brokers will also handle the mortgage application on your behalf, which is a big advantage for busy professionals.

Some mortgage brokers charge a broker fee, whilst other brokers may offer fee-free advice. A fee-free mortgage broker will probably be paid by the lender.

Yes, there are fees associated with remortgaging, such as arrangement fees, valuation fees, and legal fees. If exiting your mortgage before the current term is finished, you may also be subject to early repayment fees. It's crucial to consider these costs when evaluating the potential savings from a remortgage.

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Why should you choose Goldmanread for your mortgage?

Free Initial Consultation

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Our Mortgage Broker Reviews

We believe that professionals deserve an extremely high level of personal service when choosing their mortgage and we pride ourselves on treating each customer as an individual, not a number! Our clients couldn’t agree more and are happy to recommend us.

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Contact us to discuss your Remortgaging Process

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We’d be delighted to discuss your mortgage and insurance requirements and get an understanding of your individual goals. Feel free to phone or message to arrange a call back or appointment.

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