Remortgage – It’s not always about the best deal.

remortgage best deal

When you remortgage, it isn’t always about the best deal, it is about the best deal you can get.

Lenders used to dole out mortgages to anyone who wanted one, but things have changed and now being accepted for one can be difficult. Today lenders will cherry pick their customers, and by doing so this means that you can’t simply look at a mortgage table and say, ‘I want that one’.

Mortgage rejections are still common, and there are 3 things you will need to get a good deal:

  • Decent Equity – To get good deals you’ll often need to borrow less than 95% of the current value and to get the best deals, less than 60%.
  • A Good Credit Score – This is something that you need to manage in advance, you can have everything ready to go but get rejected when you apply because of problems that show up on your credit report. It is always good practice to download your credit report prior to applying for a mortgage.
  • Affordable Repayments – Lenders will ‘stress test’ how much you can comfortably afford to repay and not just at today’s rates but higher rates too. They will not lend to you if they believe you cannot comfortably afford to repay it.

A good tip is to also look at your monthly outgoings, to see where you can save money as Lenders look at this. Do you have any old subscriptions that you are still paying for? Are all your Direct Debits or Standing orders current? You may be surprised at what you find.


We can help find the best deal for you and ensure that you are Mortgage Ready.

Contact us today.


*Your home may be repossessed if you do not keep up repayments on your mortgage

*You may have to pay an early repayment charge to your existing lender if you remortgage


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