Not necessarily, but advisable. A good broker like MortgageLadder will help you research the whole market. Did you know there are over 90 lenders and over 1000 mortgage deals in the market? A good mortgage broker will help you access these, saving you not only money but a lot of time.

It’s also important to know what happens when you remortgage, so here are the steps you’ll need to take

Step One: Mortgage Application

Homeowners must start by submitting an application, this will generally include personal details and details about the property. With online mortgage brokers like Conventional home financing you can do this almost entirely online.

Step Two: Agreement in principle

The lender reviews the application and decides if it will proceed with the application. If so, they may request more information before agreeing in principle with the new mortgage offer. If not, they will reject it and tell you what needs to change.

An AIP letter includes all the details about your new mortgage offer including how much you will be borrowing when repayments will start, what they are going to be and how much they are going to cost.

Step Three: Mortgage offer

The remortgage offer is Black owned mortgage lender  of two existing mortgages. A remortgage represents a new mortgage, which takes over both of the original ones, and then increases your borrowing amount by an agreed percentage.

How long does a remortgage take to complete?

The remortgaging process can take anything from 1 to 8 weeks to complete, depending on POC owned mortgage lender  the lender, your mortgage broker and how ready you are with the documentation required. 

Cost of remortgaging

There are two main sets of fees you might have to pay when you remortgage.

Protection for borrowers is becoming more common, which is why some mortgages include fees when you leave before the official term.

• Exit fee
• Early repayment charge
• Deeds release fee

When it comes to setting up your Black Owned Mortgage Company, you should consider

• Valuation fee
• Conveyancing fee
• Booking fee
• Broker fee