Remortgages and Second Charges in Brentwood
Remortgage and second charge guidance for homeowners in Brentwood, Shenfield, Ingatestone and Hutton.
Deal review
We look at your current mortgage and when it ends
Costs and risks explained
Early repayment charges, fees and the risks to your home
Routes compared
Remortgage, second charge or staying put, set out side by side
Homes in Brentwood and Shenfield are often valuable, so even a small change in your mortgage rate can matter. Reviewing your mortgage before your deal ends gives you time to compare your options.
We explain whether staying with your lender, switching or borrowing more may suit you, and what each would cost.
Remortgaging in Brentwood
With larger loans, the costs of remortgaging, such as arrangement fees, valuation fees and legal fees, can be significant, so we look at the total cost over the length of the deal and not only the headline rate. If you pay a fee, you can often add it to the loan, but that means paying interest on it, and we explain the trade-off.
Many Brentwood homeowners remortgage to fund improvements, help children with a deposit or consolidate debts. If you are thinking of using your home to repay other debts, take care: spreading debts over a longer term may reduce your monthly payments but can increase the total you repay, and your home is at risk if you do not keep up payments. We discuss your options honestly, including leaving things as they are.
How it works
Initial conversation
We look at your current mortgage, what you want to achieve and how much you want to borrow.
Costs and options compared
We set out the costs of staying, of remortgaging and of a second charge, and the alternatives.
Recommendation
We explain what we would recommend, and why.
Application
We help you complete the application and provide the documents the lender needs.
Valuation and legal work
The lender values your home, and legal work is completed where needed.
Completion
Your new mortgage or loan starts and, for a remortgage, your old mortgage is repaid.
For the full guide, see our Remortgages & Second Charges page.
Frequently asked questions
Is it worth paying a fee to remortgage a higher-value Brentwood home?
It depends on the loan, the rate and the fee. We look at the total cost over the deal period, including fees, so you can compare options on a like-for-like basis.
Can I help my child with a deposit by remortgaging?
Some people do, by borrowing more against their home. Doing so increases your debt secured on your home, so think carefully, and take advice on the effect on your own finances.
Is a second charge the same as a remortgage?
No. A remortgage replaces your existing mortgage. A second charge is an additional loan secured on your home, and your existing mortgage stays in place.
When should I start looking at a new deal?
It is sensible to start a few months before your current deal ends. Many lenders allow you to arrange a new deal in advance. We will check the timing for your mortgage.
Important information
- Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
- You may have to pay an early repayment charge to your existing lender if you repay your mortgage early, and a fee may be payable to a new lender.
- Think carefully before securing other debts against your home. Making debts longer term may increase the total amount you repay.
The information on this page is general and is not advice. Advice depends on your personal circumstances.
Remortgages & Second Charges in other areas
Speak to an Adviser
Interested in Remortgages & Second Charges (Brentwood)? Tell us a little about you and we'll be in touch