Request A Call Back
Jamie Hollingsworth - Mortgage & Protection Advisor
jamie@woodhallmortgages.co.uk
I'm a CeMAP qualified mortgage adviser based in Stockport. When your fixed rate ends, your lender will send you a retention offer. I check what else is available before you decide whether to stay or switch.
No fee for the initial consultation · £299 broker fee only on formal mortgage offer · FCA authorised FRN 762513
A remortgage is when you switch to a new mortgage deal, either with your existing lender or a different one, without moving home. Most homeowners remortgage because their fixed rate is ending and they want to avoid moving onto the standard variable rate, which is typically much higher.
Property values across Stockport have changed significantly over recent years. Some homeowners who bought five years ago in areas like Edgeley or Brinnington now have considerably more equity than they expected. That means their LTV has improved, and they may be eligible for better rates than when they first borrowed. Others are remortgaging to pull some of that equity out for home improvements or other costs.
I've been advising homeowners in Stockport and across Greater Manchester since 2018. Most people I speak to have already had a letter from their lender with a retention offer. That offer is rarely the best available. I check the whole market before telling you whether to stay or go.
Remortgage availability and rates depend on your circumstances, credit profile, loan-to-value ratio and lender criteria. Not all lenders or products are included. Your home may be repossessed if you do not keep up repayments.
Most remortgages are straightforward rate switches. Some involve borrowing more. These are the ones I deal with most often in Stockport.
The most common reason to remortgage. Your fixed rate ends, your lender moves you to its standard variable rate (SVR) unless you act. SVRs are almost always higher than new fixed deals. Starting the search three to six months before the end date gives you time to get a new deal in place without a gap. I deal with a lot of homeowners in Edgeley and across Stockport who've simply never switched and are paying significantly more than they need to.
Borrowing more on the mortgage to fund an extension, loft conversion or kitchen renovation. Common in Stockport where properties in Bramhall or Cheadle Hulme have the value to support the extra. Needs enough equity and the affordability checks to pass.
If your property's gone up in value since you bought, you may be able to borrow against that increase. People use it to help family with deposits, pay for large costs or consolidate other debts. It increases your mortgage balance, so you end up owing more overall.
Folding credit cards, loans or other debts into the mortgage can reduce monthly outgoings, but it means paying them off over a much longer period and securing them against your home. I explain the full picture before recommending it, not just the monthly payment reduction.
Releasing equity to gift or lend a deposit to a child or grandchild buying their first home. Increasingly common in Greater Manchester as house prices have made the first step harder. Homeowners in areas like Brinnington who bought at lower prices years ago often have more equity available than they realise. Lenders will want to understand the purpose of the additional borrowing.
Self-employment, a change in income, a relationship change or a previous credit issue that's since been resolved. Remortgaging when your circumstances have changed means the lender pool may be different from last time. I find out which lenders suit your current situation, not the one from five years ago.
When your fixed rate ends, your lender contacts you with a product transfer offer. Most people assume it's the best they can get. It usually isn't.
Getting the timing right is one of the most practical things you can do. Leave it too late and you end up paying more than you need to every month.
The headline rate is only part of the picture. I factor all the costs into the comparison so you know what you're actually paying, not just what looks good on paper.
Tell me when your deal ends and what you're currently paying. I'll compare your lender's retention offer against the market and tell you the best route.
No fee for the initial consultation. A non-refundable £299 broker fee is payable on receipt of a formal mortgage offer (only if you choose to proceed).
Four stages. The goal is to have the new deal in place before your current one ends, so there's no gap and no month on the SVR.
We look at your current deal, when it ends and what you want from the remortgage. No fee, no commitment.
I compare your lender's retention offer against the wider market. You get a clear picture of the best option before deciding anything.
I prepare the application and deal with the new lender directly. You don't have to chase anyone or explain yourself twice.
The remortgage completes. The £299 fee is due at this point, only if you proceed. Timed so there's no gap between deals.
Switching to a new lender needs most of the same paperwork as your original mortgage. I'll tell you exactly what's needed for the specific lender before you start digging anything out.
A product transfer with your existing lender requires much less documentation. If that's the route we take, the process is simpler and I'll confirm what's needed at the time.
Buying your first home in Stockport. I work out what's realistic and handle everything from there.
Upsizing, downsizing or moving across Stockport. Port or switch, I compare both before advising.
First rental property or growing a portfolio. I know which lenders suit which setup.
Tell me when your current deal ends and what you're paying. I'll check your lender's retention offer against the market and give you a clear picture of the best route.
No fee for the initial consultation. A non-refundable £299 broker fee is payable on receipt of a formal mortgage offer (only if you choose to proceed). We may also receive commission from lenders. Your home may be repossessed if you do not keep up repayments on your mortgage.
Get Your Free Remortgage ConsultationWoodhall Mortgages is authorised and regulated by the Financial Conduct Authority. Firm reference number 762513. Woodhall Mortgages is a whole-of-market mortgage broker. We consider a broad range of mortgages from across the market, but not all lenders or products may be included.
No fee for the initial consultation. A non-refundable broker fee of £299 is payable on receipt of a formal mortgage offer (only if you choose to proceed). We may also receive commission from lenders; this does not affect the advice you receive. Your home may be repossessed if you do not keep up repayments on your mortgage.
Remortgaging may increase the total amount you owe and the total interest you pay. Debt consolidation will extend the repayment period. This page is for information only and does not constitute financial advice. Product fees, valuations and legal costs vary by lender and product; confirm full costs before proceeding.
jamie@woodhallmortgages.co.uk