Remortgage procedure

thenewbee

I'm coming up to my first remortgage after buying in Feb 2013 with a two year fix with First Direct. Shortly after completion I left my job and set up my own business which is going really well, but means I don't have enough accounts to meet affordability so we're going to have to stick with FD.

Looking at the moment we can get a 3.6% rate on a 5 yr fix, as opposed to 4.2% we're paying at the moment. I know we can remortgage 3 months before our renewal date - but what's the procedure? I think I need to do it online so I can avoid affordability altogether - but as I've never done this before I'm not sure exactly how it works? Will they use the same value as when we bought? (We bought our house for 183k but done some improvements and overpaid over the past 18 months).

Thanks in advance!

Thrugelmir

Not a remortgage. As that's when you move lender. All you all doing is switching product. Give FD a call and the process should be seamless.

ispookie666

While switching to a new deal how is LTV calculated? If they take the original house price our LTV comes to around 92% but if they revise house price the LTV comes to 80% on a conservative estimate.