| Property | Victorian terraced house |
|---|---|
| Location | Wandsworth, London |
| Client | Married couple, both employed in finance |
| Product | Remortgage |
The challenge
The couple's five-year fixed rate was due to end in five months, and their existing deal carried a significant early repayment charge until then. They wanted certainty early but did not want to pay a penalty or fall onto the lender's standard variable rate.
What we did
We secured a new mortgage offer around four months ahead, as many lenders allow offers to be held for six months. We set the completion date for the day after the early repayment charge period ended. We also compared the new deal against a product transfer with the existing lender before recommending the switch.
The outcome
The remortgage completed the day the old deal expired, with no early repayment charge and no time spent on the standard variable rate.
Remortgage adviceSwitch to a new deal, release equity or change terms when your current mortgage deal ends.
Learn moreImportant: Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice: up to 1% of the loan, typically £500.