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Remortgaging
If this is the first time you've remortgaged rest assured the process isn't quite as complicated as buying a house (if you can remember what that was like). However, it's still as important and you need to be mindful of what you can afford as well as any other costs involved.
Chances are, you won't remember a lot of what's involved in getting a mortgage - it's not something you do on a regular basis so we thought we'd help you out with a few pointers. We'll explain the process you'll go through to remortgage your property, including any considerations you will need to be aware of. Don't worry we've kept it simple, you don't even have to leave this page (but you will need to scroll down).
Your home may be repossessed if you do not keep up repayments on your mortgage.
Understanding remortgaging
This section will help you understand what remortgaging is all about.
Let's start from the beginning - you'll probably want to understand what remortgaging means and why you're doing it. There are a number of different reasons why people remortgage and our guide should help explain these, as well as the benefits in doing so.
Remember you can talk to us at any time, just give us a call on 0800 0285 277*
Work out your finances
This section will help you work out all the sums.
Once you're clear about why you're remortgaging you need to think about how much it will cost you. Whether you've come to the end of your current deal, looking for additional borrowing or just looking for a better rate, it's really important to get on top of your finances so you know what you can afford.
Once you've worked that out, you'll be ready to take a look at the deals we currently have on offer at Northern Rock, and see what you like the sound of.
Find and compare mortgages
Sums done, time to see what's on offer
Once you've mastered the numbers side of it, you'll probably want to see what Northern Rock mortgage deals we currently have available. Use our mortgage finder to see what takes your fancy – if you want to go away and have a think about your options, you can save the mortgages you like and return to them later (but remember, these are the deals you can get today and they could change at a later date).We've tried to ease the pain a little bit by paying for your legal fees as well as your valuation fee.
Reminder: You'll need to find out what you owe your current lender, so you should contact them directly for a redemption statement. Remember to find out if there are any additional charges you will incur.
Repayment calculator
Get a quote and apply
The final stage is to choose the mortgage you like best and go for it:
The first step is to get a Decision in Principle (DIP), also referred to as a mortgage certificate. A DIP? will involve running a credit check? on you to ensure you fit our lending requirements. It'll be easier if you've got everything you need to hand, so we've provided a list of things you'll need.
Final step is to decide how you'd prefer to apply. You can give us a call and do it over the phone as soon as you're ready, or you can pop into your nearest branch if you'd prefer to talk face to face.
Things you'll need to applyReady to get your quote or apply?
Just call one of our mortgage specialists on:
0800 0285 277*
OR
Protect your home
By the time you get to this stage everything should be well on its way, with only one final piece to complete – arranging your insurance. It goes without saying that it's vital to have all the relevant insurances in place to protect your home; it's probably going to be your biggest asset after all.
Working with our trusted partners we offer a range of insurance deals including buildings and contents, home emergency cover and life insurance. Take a look at our insurance section for further details.
If your home insurance isn't up for renewal just yet, tell us when it is and we'll get in touch with you nearer the time.
Your home may be repossessed if you do not keep up repayments on your mortgage.
* We're all based in the UK and happy to help when you're ready (providing you call us between 8am - 8pm Monday to Friday, 10am – 3pm Saturday or 10am – 2pm Sunday, otherwise we're closed). Calls may be monitored and recorded.