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Remortgage Brokers

Can a broker get you a better remortgaging deal or are you better going at it alone? Find out in our guide

No impact on credit score

Pete Mugleston

Author: Pete Mugleston - Mortgage Advisor, MD

Updated: August 20, 2021

If you’re coming to the end of your fixed or discounted rate mortgage deal, now may be the best time to remortgage to a better one, and a broker could make this process easier for you. This rings especially true if you have a fixed-rate mortgage as if your interest rates are higher than what the market is currently offering, it may be worth remortgaging to save money or remortgaging to release equity.

You could potentially save even more by working with a broker. To find out why, we put together this article, which looks at how a mortgage broker can help your remortgaging needs.

We also compare the pros and cons of going it alone vs working with a broker, the fees involved, and more.

Do I need a broker to remortgage?

While it’s not a legal requirement, you could potentially shave thousands off your mortgage by remortgaging with the help of an expert broker. They can look at your current deal plus your financial situation (such as income, debts and day-to-day spending) to determine which product type would be best for you, then use their whole-of-market access to find the best deals.

The mortgage market can be difficult to navigate if you’re not sure which lenders to approach. Brokers are obliged to offer clear and accurate advice when they recommend a remortgage product to suit your needs, and they do this by assessing your circumstances.

There are plenty of benefits to working with a mortgage broker, though you can also conduct your own research and find a remortgage deal. To help you decide, we’ve explored the pros and cons of each in the sections below:


If you decide to go directly to your current bank or another lender of choice, you may miss out on the best remortgage deals and rates. However, it’s still worth approaching your current bank and other lenders to get an understanding of what may be available to you.

The benefits to going it alone may be that you won’t have to pay a broker fee, though some offer free consultations. We only work with the most trustworthy and accredited mortgage brokers in the industry, so you can rest assured that the advice to receive will be impartial.

While comparison websites can give you a rough estimate of what may be available to you, many of the companies in fact pay to be featured there, so you won’t get a clear idea of what’s truly available and best for your requirements.

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With a broker

There are plenty of benefits that come from working with a quality broker to help you remortgage.

These include:

  • Access all areas: Brokers should be independent and ‘whole-of-market’. This means that they can access and compare deals from a huge variety of lenders to ensure that you get a remortgage product with the most competitive interest rate and fairest terms.
  • Recommend which remortgage type: Whether you’re after a fixed-ratetracker, repayment or interest-only remortgage, a broker will be able to assess your needs and circumstances to see if your preferred remortgage type is right for you.
  • Time saved: A broker can find deals and work with a lender on your behalf, making your remortgage search much speedier and more convenient. After all, why spend hours researching deals that may not be right for you when a broker has all this information at their fingertips?
  • Quicker application: Following on from the last point, because you may have saved lots of time by working with a broker, your mortgage application may also be pushed through quicker. A typical remortgage application can take between four to six weeks, though it may be possible to secure a deal before then.
  • Specialist areas: If you have unique circumstances (for example, you’re a self-employed individual looking to remortgage a non-standard property), then we can match you with an expert who has similar experience in arranging these specialist mortgages and remortgages.
  • Bad credit defence: If you have adverse credit, then a broker can review your credit report and overall profile to gauge what sort of remortgage with bad credit you could get.
  • Calculations: Mortgage brokers can work out how much you could be able to borrow based on your income, deposit amount, debts and monthly obligations.
  • Honesty: Brokers who are regulated by the Financial Conduct Authority (FCA) are obliged to provide you with transparent and honest information regarding your circumstances and options, so even if your current deal is better than any products available on the market today, they will be truthful and honest with you.
  • They keep you updated: Mortgage policies are updating all the time, so the criteria to qualify for a remortgage or mortgage will also change. However, brokers will be aware and fully informed of these changes before the public will be.
  • You have more rights: If, later down the line, you find that the remortgage recommended to you isn’t suitable, you have more options when it comes to getting compensation. However, the brokers we work with are regulated by the Financial Conduct Authority (FCA) for your peace of mind.
  • Less chance of getting rejected: Because a mortgage broker fully understands the restrictions and criteria of each lender, they can put forward your application with a greater chance of being accepted.
  • Fee management: Some brokers may be able to waive some lender fees, which will save you more money.

They can also help applicants who have previously been declined for a remortgage.

For more information and to get a quote, get in touch. The brokers we work with are experienced in arranging remortgages for many and can be especially helpful if you have bad credit, are self-employed, if you’re a first-time buyer or expat, or any other applicants with niche requirements.

It’s free to get in touch, there’s no obligation to take things further, and your credit score won’t be affected.

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About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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