Flat Remortgage
At JB Mortgages we offer the personal attention required to find a perfect fit at the lowest interest rates available for your circumstances.
- Access to competitive rates and some you can't get direct
- Specialist Mortgage Advisers
- You'll experience an unrivalled customer service
What's On This Page?
Get In Touch
Flat Remortgage
Can I remortgage my flat? How does it work?
Very simply, yes, you can remortgage a flat. The remortgage process is just the same as with any other property.
Obviously, the lender will do a valuation on your flat, as with any property. The flat just has to pass the lender’s valuation.
Can you remortgage a leasehold flat?
Yes, you can. Most flats are leasehold, anyway. We just need details of how long is left on the lease and any charges that you have to pay – for example, ground rent and service charges. We’ll just take that into consideration when we’re looking at mortgages for you.
Can I remortgage my council flat?
Yes, you can remortgage your council flat. There might be some additional criteria that lenders have. For example, they will be interested in the number of floors in the block, whether or not it has a lift, and also how many properties in the block are privately owned, percentage-wise.
We take all these factors into consideration when we’re looking at the right mortgage for our clients.
Can you take equity out of a flat?
Yes, as long as it’s affordable, you can borrow extra money for practically any legal purpose.
Do I need an Agreement in Principle to remortgage my flat?
As mortgage brokers, we deal with the Agreement in Principle just as a normal part of the application process. It’s not something that clients particularly need to worry about for a remortgage.
Speak To an Expert
Everyone’s different. You might be self-employed. You might have some credit history issues – whatever your situation, we will find the most suitable product available to you from across the whole market.
What documents will I need to remortgage my flat?
On all mortgage applications, we need proof of ID, address and income. Depending on a client’s particular circumstances, we’ll give them a personalised list of documents, specifically telling you what to provide – that’s just part of our normal process.
What costs are involved in remortgaging a flat? Are there any early repayment charges?
As the mortgage broker, we charge a fee to arrange this. And when you’re remortgaging from one lender to another you’ll need a solicitor, so there potentially could be legal fees.
In terms of early repayment charges, that would depend on the mortgage that you have currently. We do take that into consideration with any recommendations that we make – we’ll include any fees and confirm what these are.
How can a mortgage broker help here? Is there anything else you’d like to add?
As mortgage brokers, we help with remortgaging flats every single day. So if you’re listening and you find yourself in that circumstance – just get in touch and we’ll see how we can support you.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.
As Seen In . . .
