Everything You Need to Know About Remortgaging Your Home

If you already have a mortgage, but you're looking for a better deal, you could look into changing your mortgage provider without actually moving home. There are many reasons why you may wish to remortgage, and if you're looking to switch to Newcastle Building Society, read our guide to remortgaging below to find all the information you need to make an informed decision about whether it is the right choice for you.

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How does remortgaging work?

As mentioned above, a 'remortgage' is the term given to the process of switching your existing mortgage on your home to a different lender. In simple terms, the new mortgage is used to pay off the existing mortgage, using the same property as security against the loan.

Why remortgage to another lender?

You may be considering a remortgage for any number of reasons, but the most common reason for remortgaging is to take advantage of a better mortgage deal that is available. On our 'Why Remortgage to Newcastle Building Society?' page, we take a look at the main reasons why you may want to remortgage your home, and why you should consider remortgaging to us.

There may be benefits of remortgaging if you can find a deal with a suitable rate and features for you, but it's important that you understand exactly what the remortgage process involves, as well as any reasons why it might not be suitable for you. Take a look at our guide to things to consider when remortgaging, as well as our most frequently asked questions about remortgaging, to get more information on factors such as the cost of remortgaging, how long it will take, and how to apply.

You can also use our mortgage affordability calculator for a rough idea of how much we could be willing to lend you before you speak to one of our qualified mortgage advisers.

Thinking about remortgaging?

You can speak to one of our friendly mortgage advisers by calling

0345 606 4488

8am - 8pm Monday to Friday 9am - 3pm Saturday (Calls to 0345 numbers, cost the same as a call to a standard ‘01’ or ‘02’ landline number, even when calling from a mobile.)

Could switching your mortgage be a more suitable option for you?

If you are an existing Newcastle Building Society customer and your current mortgage deal is coming to an end, or if you have already switched to our Standard Variable Rate, then you may be interested to find out whether you can switch to a better or more suitable mortgage deal with us.

Our switching mortgages page has all the information you need to determine whether switching your existing mortgage with Newcastle Building Society could be the most suitable option for you, as well as how to switch your mortgage if you decide that you'd like to make the change.

Explore your other options for borrowing money

Should you be considering a remortgage in order to borrow more money, such as for home improvements or to make a large purchase, then you may wish to consider additional borrowing on your current mortgage instead of changing mortgage provider. This is called a 'further advance', and is another way of borrowing more money against your home.

To find out more about taking out a further advance on your mortgage with Newcastle Building Society, take a look at our information on borrowing more on your home.

Whether you'd like to discuss remortgaging with Newcastle Building Society, or you are an existing customer and would like to talk about switching your mortgage or borrowing more against your home, one of our qualified mortgage advisers will be happy to speak to you. Call us now on on 0345 606 4488, or book an appointment at your local branch.

Your mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.