Advice on remortgaging with same lender when circumstances have changed

kat44

Hi there I'm new to this forum and hoping someone may be able to give some advice. We are currently on the SVR and I would like to remortgage to save some money. However our circumstances have changed since we took the mortgage on. I have taken an early departure package with work and we were planning to use the money to cover the mortgage repayments while I take time off work to look after our children. If we look at remortgaging with the same lender we can do this online and wouldn't have to go through the process that we would if we went to a new lender. As our loan to value ratio is different 90% mortgage 2.5 years ago and would be around 75-80% now we could save around £100 per month. I wanted to see if anyone knows whether the lender would need to know of this change of circumstances or whether, given we have a sum of money that could potentially cover a couple of years of mortgage repayments, we wouldn't need to and could just do the change online. I'm not sure what paperwork I would have to sign if we went through the process as have no intention of signing anything that wasn't right. Thanks in the hope that someone may be able to advise me.

kingstreet

You aren't remortgaging, you are asking your current lender for a customer retention product.

There are usually no further status requirements for this.

kat44

Thank you for your reply