product transfer Archives - Mortgage Light

Can You Remortgage With The Same Lender?

June 23, 2020 By Mortgage Light Leave a Comment

Remortgaging allows you to make sure you always have the best mortgage product available for your current personal circumstances. Although you don’t have to remortgage, it’s always worth exploring your options when the opportunity arises to see what deals are out there. You might find a more suitable mortgage product with an alternative lender, or you may be able to simply switch to a better deal with your current lender. [Read more…]

All of our brokers deal with the whole of the mortgage market. It doesn’t matter what the question or when you want to speak to us, we have brokers available on the phone or face to face seven days a week. Whether you are just thinking of buying a home and have no idea where to start, a seasoned investor or someone looking to better your current mortgage product, we are happy to help andchat over ideas free of charge.

So we can give you plain and simple advice we will run through some basic questions to help us tailor products to suit your needs. Upon us taking your application forward we will write to inform you that we have given you advice and give you a Key Facts Illustration breaking down the important elements of the product and the fees involved.

For us to take your application forward to a lender we charge an upfront administration fee of £495. For our returning customers looking to renew their mortgage product this fee reduces to £250. We also receive commission from the lender.

Our fee is payable upon mortgage application. The typical fee for a regulated mortgage is £495. However, for applications involving a poor credit history or loan amounts under £50,000, an additional fee of £150 will apply.

For existing customers, we offer a reduced fee of £250 for remortgages and £395 for purchases, with no charge for product transfers.

For buy-to-let mortgages, the fee is £595, and for limited company buy-to-lets, it is £695. Fees for commercial mortgages are determined by the nature of the finance and the loan structure, with a minimum charge of £1,000. Additional fees may apply.

We will receive commission from the lender in addition to the fees you pay. As with all insurance policies, conditions and exclusions will apply.

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.

Covering Milton Keynes.

Registered Office: Mortgage Light Ltd, 15 High Street, Brackley, England, NN13 7DH. Registered Company Number: 8184773. Registered in England & Wales.

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