When you switch interest rates on your home or an investment/buy to let property, you are in essence switching your mortgage to another deal. This is known as ‘Product Transfer’ if you stay with your current lender. However, this is not always the best option, and sometimes it is best to change lenders entirely. This is called a re-mortgage and can save you a significant amount.

Access to a wide range of mortgage products

The experienced advisers at Scott & Goose will check all the current mortgage deals that are available at that time. They may even advise you to wait a while if they know of a better package that is due to be released soon; At Scott and Goose, we always put our customers first.

Only when we have discussed your unique requirements and combed the mortgage market place will we tell you whether you should use the ‘product transfer’ route or change lenders.

Your Remortgaging contact

Ian Scott

Ian is the owner of Scott & Goose and has been in the Mortgage and Insurance business since 2003.

Just some of the providers we use...

Only an experienced, well-connected, Mortgage Broker can find the best mortgage for you.

This advice is free – we will search the whole market for you, and so we are sure we can find you the best possible deal. Fixed rate, variable-rate, interest only, we can find the best possible way to satisfy your financial needs.

Affordability – One of the reasons Remortgaging is so popular

Most people simply switch mortgages because it will work out cheaper for them. For example, the introductory discounted interest rate may have finished with your current lender; therefore, you could potentially get a new discount rate, or a lower APR, with another lender, something that can drastically reduce your monthly payments.

Refinancing Debts

Another example is when you may need to re-mortgage to repay or consolidate debts, raise money for an investment, buy a car or caravan, or gift to a loved one. This process can start 6 months before your current deal finishes.

Plus, if your property value has increased, your lower loan-to-value might help you qualify for better interest rates.

“I was on a standard rate with Halifax at 3.59% costing £1227.65 per month, switched mortgages to a rate of 1.16% and saved £3566 over just 2 years!”

– Scott & Goose Client

You have to take everything into consideration before deciding, though

It is worth noting that a remortgage is not the best option in all cases. 

Even if the lender you are considering switching to is offering a lower APR, you must take into consideration the facts that:

  • The new lender may charge you for valuation and solicitors fees, even if you have already paid these for your mortgage with your current lender.
  • If you switch mortgage, remember to look at the overall repayment period. You may be able to pay less monthly, but check the final repayment date of the mortgage as well.
  • You may have to pay an early repayment charge to your existing lender if you re-mortgage too early. We will be able to advise on the best solution for you. Call now for a quick chat to see which is best.

Also, you may be able to switch your mortgage deal with your current lender, avoiding any unnecessary costs. Many lenders will allow you to switch your mortgage deal reasonably frequently, but this may not be your best option.

As you are dealing with such an important issue, it is vital to take advice from someone who knows all the pros and cons and can explain them all in plain language too. This is just what our mortgage advisers do. You can be sure of the very best advice when you deal with Scott and Goose.

"Great service. We were removed out of our Decision In Principle (DIP) for a change in criteria in self employment, but Ian had already found another by the time i had called him. He's easy to talk to 🏠 and we are about to move in!"
"Ian has been dealing with my personal and buy to let mortgages and those of my family for many years now. He is helpful, knowledgeable and professional - highly recommended."

We help in so many ways

We don’t just find you the best way to borrow the money you need either, and we can help you fill in the mortgage application, as well as advising on things like mortgage protection.

Equity Release is another option for some

You may also wish to pay off your mortgage entirely by using Equity release. This can give you the benefit of zero mortgage payments. This can be done for both your main residency or a 2nd or subsequent property. 

Use our Equity Release Calculator tool to see how much money you might be able to release from your property. It only takes a couple of minutes and you don’t have to provide any personal details if you don’t want to.

Scott and Goose comply with all the terms of the Financial Conduct Authority and will always provide only the best of advice whilst warning of any potential problems. 

Remember, your property can be repossessed if you fail to keep up any payments. This is why besides helping people choose the best lenders, we also offer services like life insurance and income protection.

You can trust Scott & Goose

FCA Regulated

Scott and Goose is directly authorised and regulated by the Financial Conduct Authority under reference 661183.

Personal service

Being a small independent company, we can offer a genuinely personal service with direct access to your adviser via mobile during the day, evenings and weekends.

Highly rated

Our customers love what we’ve done for them and rate the service they’ve received. You can read all our positive reviews on Google Places.

Need more information?

The best way we can help you is to have a quick conversation to understand your situation and recommend appropriate products. Contact us today for a no-obligation discussion.