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EXPERT ADVICE

Top five tips for remortgaging in 2025 Speak to an independent mortgage adviser with
access to the whole market, who can guide you
ESPC Mortgages’ Lisa Bell shares top tips for those whose
fixed term deal is coming to an end. on the available options.

01 Do your research 04 Choose the right mortgage term
Find out when your fixed term deal is It may be tempting for your budget to
coming to an end, to avoid incurring any pick the longest available term, but you
early repayment charges, and the earliest need to think carefully. Speaking with an
date that your current provider will offer new independent mortgage adviser can help you
options. Also, find out your loan-to-value. If to gauge what the most appropriate option
it’s close to a rate threshold, speak with is for your personal circumstances.
your lender to see if this can reduce your
mortgage rate.
05 Remember to factor in fees
02 Get independent advice Keep an eye out for upfront fees and other
costs that may affect the overall value of
Speak to an independent mortgage adviser your mortgage deal, such as title deed
with access to the whole market, who release fees to leave your existing provider,
can guide you on the available options. or any CHAPS payments to transfer the
Work out a true costing of the best overall mortgage across. Most remortgage options
option, factoring in any arrangement fees. should provide free standard legal work
Be mindful that staying with your current to transfer across, plus a free standard
provider can be quicker, meaning more valuation, but anything non-standard may
chance of securing a deal at the current rate incur additional costs.
– plus, they won’t proceed with affordability
assessments if you’re not changing the
mortgage amount or term.

03 Forward plan ESPC Mortgages can help with all aspects of understanding your
budget, applying for a mortgage and dealing with the relevant
Think about your intentions before securing insurance requirements. You can contact the ESPC Mortgages team
your next mortgage. How long do you plan on 0131 253 2920.
to live in your current home? What about
family plans or career changes? Try to avoid
The information contained in this article is provided in good faith. Whilst every care
securing a preferential rate which would has been taken in the preparation of the information, no responsibility is accepted
tie you in beyond your expectations, which for any errors which, despite our precautions, it may contain.
may impact your mortgage choices for any The initial consultation with an ESPC Mortgages adviser is free and without
onward purchase. obligation. Thereafter, ESPC Mortgages’ charges for mortgage advice are usually
£395 (£345 for first-time buyers). YOUR HOME MAY BE REPOSSESSED IF YOU DO
NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED
AGAINST IT.
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