Choosing the best buy-to-let remortgage deal
The best Buy-to-Let remortgages are exclusive to independent mortgage brokers like John Charcol. When you’ve found the best buy-to-let remortgage deal for you, it’s time to get in touch with one of our mortgage experts.
We will help you by thoroughly researching the market, and we will even manage your application from start to finish. To find out if you qualify or if there are better options available, get in touch with our mortgage experts for a detailed, personalised search.
WANT A BETTER
Use our buy-to-let remortgage comparison tool
If you’re remortgaging an existing buy-to-let property, our comparison tool will help you find the best buy-to-let remortgage deals on the market.
1. First Call
When you contact us, we’ll arrange an appointment between you and one of our advisers – this can be over the phone or face to face. Your adviser will ask you some questions and, once they have all the right information, they’ll go away and find you the best remortgage for your current and future needs. They’ll then organise a follow up appointment to tell you about their recommendation.
2. Decision in Principle
After your adviser has presented you with their recommendation and you’re happy to proceed, they’ll work on securing your DIP (Decision in Principle). Your DIP is a promise from the lender that they’ll loan you the money on the condition that the information you’ve provided is correct and subject to a valuation on the property.
3. Pre-Application and Submission
Once the lender secures your DIP, we’ll start to prepare your mortgage application. We’ll send you a pack that explains all the different documents the lender needs. You’ll be assigned a client relationship manager who’ll go through your documents and get everything ready for submission. Your adviser will then submit your full mortgage application.
4. Lender Underwriting and Valuation
The lender carries out a process called “underwriting” where they check all the information and documents you’ve provided in your application. They’ll also instruct a mortgage valuation on the property to make sure there are no significant problems with it. Sometimes a lender will only instruct a desktop valuation for a remortgage – rather than a physical valuation – as your property would have likely had a valuation and internal inspection when you took out your first mortgage.
5. Mortgage Offer
Following a successful underwriting process and valuation, the lender will accept your application and send you a mortgage offer. They’ll also send a copy to us.
After you accept the mortgage offer, you’ll go through conveyancing which is where a solicitor arranges all the legal paperwork so you can transfer from one lender to another.
Finally, after you’ve signed all the paperwork, your solicitor will set a date to draw down the new money to clear the outstanding balance with your current lender. Any excess funds will be returned to you. This is called completion.
Not only do we organise your mortgage, we can refer you to a trusted solicitor for the conveyancing part of the process. We have access to a select panel of trusted conveyancers and solicitors, which means we can find you legal advice specific to your needs.
We’re partners with Legal and General, so we can find you buildings and contents insurance for your new property. Our in-house team can also organise mortgage protection to suit your unique needs.
It’s easy to overlook your property as part of your finances, but your home is probably the biggest asset you have. Release money from your home with John Charcol's partnership with Key Retirement. Find out more and start the process today.
We can help you prepare your property for tenants with our exclusive concierge service - available through our partners Just Move In. They’ll organise for your property to be cleaned and, if you’re furnishing your property, they’ll arrange all the removals.