Can you remortgage with the same lender?

Thinking about whether to stick with your current lender or try out some new options for your remortgaging?

It's a big decision with a lot riding on it for your wallet. Let's break down the pros of both routes and help you figure out what's best.

Sticking with your current lender has its perks. First off, you could save some cash straight away. By sticking around, you might dodge fees like valuations and solicitors, which could save you a pretty penny. Plus, if you're still in the lock-in period, your lender might let you off the hook for early repayment charges, which is a nice bonus. And since your lender already has all your details, the whole process tends to be quicker and less hassle. Bonus: no need for a new affordability check with them, so that's one less headache.

But switching to a new provider could pay off in the long run. You might snag a better mortgage rate elsewhere, especially if you've got a broker hunting down the best deal. New providers often throw in perks like free legal fees and cashback, which sweetens the deal even more. Plus, you might get better terms and a fresh property valuation, potentially scoring you better mortgage rates.

Navigating the whole remortgaging thing can be tricky, which is why getting some pro advice is a smart move. A mortgage broker can size up your situation and steer you in the right direction.

At ChangeMyMortgage, the UK's first automated mortgage platform for existing mortgage holders, we've made the process a breeze. In just 15 minutes, you can automatically recieve a unique mortgage offer from both your current lender and the next best one. We are at hand to provide free mortgage advice and also up to £500 in cashback, making the decision even sweeter.

Whether you're sticking with what you've got or exploring new possibilities, ChangeMyMortgage is here to help. Drop us a line today and take charge of your financial future!

*15 minutes is based on average completion time. Cashback is subject to completion of a mortgage through Changemymortgage.