If your current mortgage rate is coming up for renewal, you could benefit from switching to a new lender. If there is a new deal that suits you better than the rest, we will make it our business to help you find it. Our advisors would love to have a conversation with you, why not get in touch to discuss the options available for your circumstances.

Helping you every step of the way

Search thousands of products to find the best deal for you
Help you understand the costs involved with purchasing your home
Prepare your application so lenders are more likely to consider you
Liaise with your lender, solicitor, and surveyor, so you don't have to
Take care of all the paperwork, leaving you to focus on your move
We communicate to always keep you in the picture

Answering your frequently asked questions

With so many options to consider, it can seem very confusing. So, to help you out we've answered some of your most common questions. For more specific advice about the options available for your circumstances, why not get in-touch with one of our friendly advisors.

Why should I consider remortgaging?

Some of the most common reasons for remortgaging are:

Reduce monthly repayments
Once your mortgage deal has come to an end, you will typically be placed on your lender’s standard variable rate (SVR), which could be higher than the previous mortgage deal you were on.
Switching to a new provider or deal could help reduce monthly repayments as well as gain extra flexibility on your mortgage term.

Borrow more money
You may wish to borrow more money, possibly for home improvements, pay off other debts or release equity from your home as the value of your home has increased substantially.

Personal and financial needs
You may want to ensure your mortgage meets your personal and financial needs or change to a different type of mortgage, for example, if you were on a variable-rate mortgage, you may want to look for a fixed-rate product that offers peace of mind so you know exactly how much your repayments are each month during the mortgage term.

Should I stay with my current mortgage provider?

You may think that by sticking with the same mortgage lender could be rewarding, but in fact, many mortgage providers have been penalising their customers with so-called loyalty penalties. The practice is so widespread that the Competition and Markets Authority (CMA) has been looking at the issue and has made recommendations to both the government and the Financial Conduct Authority (FCA).

Will my credit profile affect my mortgage?

Your credit profile will help mortgage lenders decide whether to lend to you as well as how much they will let you borrow. It’s also a way for lenders to establish whether you will be a risk to them or not. If you remortgage with your existing lender, providing you don’t borrow any more money, you’ll have already proved you can afford the monthly mortgage payments, meaning your existing lender may not insist on carrying out another credit check. Although be sure to double-check this, as some lenders are more cautious than others. Take a look at how you can improve your credit rating.

I want to remortgage, so what happens next?

Once you have made the decision to remortgage, below are some simple steps to help explain the process.

Speak to a mortgage advisor
Should you decide to remortgage with Oviso, our friendly advisors will be able to work out whether remortgaging will save you money. We provide a comprehensive view of the best options available to you, comparing a wide range of deals from major banks and building societies – to try to find the mortgage that’s right for your circumstances. We look at the whole package, not just the rate, to ensure that we recommend the deal that best suits your individual circumstances.

Consider affordability
Please remember that the cheapest deals don’t always mean the best deals, it’s worth considering which suits your circumstances better. For example, if you were unable to afford the repayments in the event of the mortgage interest rate rising, you may prefer to look for a fixed-rate product that offers a fixed payment.

Make the application
Once you’ve made a final decision and you are happy with our advice, you’ll need to apply. Our advisors will help manage the application process from start to finish, making the whole process as seamless as possible.


Mortgage calculator

Our simple mortgage calculator can help you to calculate your LTV (loan to value) and what your likely mortgage repayments will be. Remember, you will need to allow for other costs such as stamp duty, solicitor fees and moving expenses.

Cost of property
Enter the purchase cost of the property
Your deposit
Enter the deposit amount. The minimum for a house is usually 10% of the property's value.
Mortgage term
Enter the number of years you want to pay your mortgage over (between 1-35 years) If you already have a mortgage then enter the number of years you have remaining on your mortgage.
Mortgage interest rate
Enter the mortgage interest rate.
Mortgage amount
Monthly repayments
Loan to value (LTV)

There will be additional fees that you'll need to include within your house purchase budget

Examples may include: Solicitor fees, Broker fees, Conveyancing fees, Mortgage fees, Stamp duty.

If your mortgage is a fixed rate, your payments will remain the same for the deal period, but could increase at the end of the deal period.

For a more detailed summary of your house purchase costs, it's advisable to discuss the options available to you for your circumstances with a qualified mortgage advisor.

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