Do lenders check when remortgaging

Treetops88

What checks do lenders do when you remortgage with them 
My fixed deal is up at then end of the year but I need to take a car loan out (all fine on affordability even with new expected rates) just not clear if this will affect me when I remortgage with my existing lender ie taking out new credit
tia 

MFWannabe

If you stay with current lender it’s just a product transfer and no checks are done if you’re not changing term or amount 
If you move to another lender then it’s a remortgage with all relevant checks 

born_again

Treetops88 said:

What checks do lenders do when you remortgage with them 
My fixed deal is up at then end of the year but I need to take a car loan out (all fine on affordability even with new expected rates) just not clear if this will affect me when I remortgage with my existing lender ie taking out new credit
tia 

If you are doing a simple rate change to a new fixed term they may do a soft CRA check, or just rely on their data. But if you are wanting to increase loan amount/term. Then they will go though affordability checks.

Having done a simple rate change. It was just fill in one form (sign & date) & that was it. As simple as it gets.

Treetops88

Ok thanks. I didn’t realise if you extended term (unlikely to do) it would be an affordability check so good to know 

NorthernExpat

@MFWannabe does that also apply if you want to reduce your loan amount at the point of remortgage? We are saving into a bank account rather than overpaying at the moment and might be over the overpayment limit for the final year, so interested to know.