Remortgaging online

Buyingahouse2015

My current rate is about to end and I want to remortgage.

My existing lender allows existing customers to remortgage online without any advice, fees, affordability assessments as longs as they don't change the amount borrowed, terms etc.

I'm pretty confident to remortgage online except it says I wouldn't be covered by the FCA if I remortgage without seeking advice from the lender.

Is that something to be wary of? Their website doesn't give more info on this and I wondered if remortgaging online is a risky thing to do?

kingstreet

You are not remortgaing, you are asking your current lender for a customer retention product. A remortgage is a new mortgage with a new lender to repay the old one.

Doing something online without advice is "execution-only" so if you end up picking the wrong product, it's you in the frame and you have no route for complaint if you did not seek advice.

ThePants999

Nothing to worry about, unless you're the kind of person who wants to be able to complain because they didn't realise interest rates could go up on trackers etc etc.