Remortgaging and Further Loans
During your mortgage term, you may wish to change lender to get a better deal, borrow more money or do both. There are different rules for doing this, depending on whether you are a leaseholder who owns 100% of your property or a shared owner.
Changing your mortgage is not something you can do for free. There will be costs if you move to a new lender, your present lender will charge you a fee, called a redemption penalty. You will also have to pay the cost of arranging a new mortgage. We recommend you consult a financial adviser or mortgage lender to help you find the best deal for what you need.
We will charge you an administration fee for dealing with changes to your mortgage.