Understanding remortgaging, costs and lender assessments

Important information about these guides

Mortgage Bridge acts as a mortgage introducer and provides general information and administrative support. These guides are for educational purposes only and should not be relied upon as mortgage advice, a recommendation or an assessment of your eligibility or suitability.

Mortgage Bridge does not assess mortgage suitability, determine eligibility, recommend products or make lending decisions. Any review of enquiry information by Mortgage Bridge is administrative only. Any regulated mortgage advice is provided separately by an adviser acting through a network authorised and regulated by the Financial Conduct Authority, following an assessment of your individual circumstances.

Remortgaging generally involves replacing a mortgage with one from a different lender. A product transfer generally means choosing a new deal with the existing lender. The checks, available terms and conditions depend on the lender and the changes requested. An existing mortgage does not guarantee access to a new deal or additional borrowing.

Borrowing against equity increases secured debt; it does not provide access to free money. Availability depends on the lender's valuation, existing borrowing, affordability and other criteria. References here to borrowing against equity do not describe a lifetime mortgage or home reversion plan, which are different arrangements.

Consolidating debts into a mortgage can turn unsecured borrowing into debt secured against your home. Spreading repayment over a longer period may increase the total interest paid, even if the interest rate or monthly payment is lower. These guides do not recommend consolidating debts, changing your mortgage or making overpayments.

Calculator results are illustrations based on their inputs and assumptions. They do not confirm lender terms, eligibility or whether making an overpayment is appropriate for you. Overpayment limits and charges depend on your mortgage agreement.

Mortgage availability depends on individual circumstances, affordability, the property and current lender criteria. Acceptance is not guaranteed. Criteria, products and costs can change. An adviser acting through an FCA-authorised and regulated network can assess your circumstances and explain which options, if any, may be available.

If you make an enquiry, we can provide administrative support and introduce your enquiry to an adviser. Mortgage Bridge has commercial referral relationships and receives a percentage of the commission earned by the adviser on introduced cases that complete. We therefore have a financial interest in those cases completing.

Read more about our role and how enquiries are handled in our About Us page, Terms and Conditions and Privacy Policy.

Think carefully before securing other debts against your home.

Any property used as security, including your home, may be repossessed if you do not repay borrowing secured against it.