Redundancy - remortgage

JoshuaFennell

Unfortunately being made redundant, mortgage deal expires this year. Just looking to remortgage the same amount not moving or borrowing more.

Plan is of course to land another job, but could take a while for the right thing possibly.

Obviously remortgage with another provider isn’t going to be an option, I’ve heard that moving to a new deal with the same bank is a much more straightforward process - preferable to dropping to the default rate which is basically double the monthly payment 

anyone been in a similar situation and can advise?

Yorkie1

If you do a product switch with your current provider, you won't be applying for a new mortgage and therefore won't have to go through the affordability issues.

You will probably find that you can do the switch online without any questions being asked.

Who is your mortgage provider?

ACG

Switching products with your current lender is pretty straightforward to do. Its just a case of logging on, choosing one of the options available and job done. 

Admittedly some lenders are better at it than others, most can be done in less than 10 minutes. I think we had one that took about 7 weeks with one lenders which was fun, but that was very much the exception.