Remortgages and Second Charges in Hertfordshire
Remortgage and second charge help for homeowners across Hertfordshire, from St Albans to Stevenage.
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
Many Hertfordshire homeowners hold significant equity in their homes. A remortgage can let you review your rate, change your term or borrow more, but each choice has costs and risks.
We compare your options and explain what each would mean for you before you decide.
Remortgaging in Hertfordshire
Larger loans and higher-value homes can mean more lender choice, and also more questions about income, especially if you have bonuses, dividends or a company. We explain what lenders usually ask for and what to prepare, so there are few delays once you apply.
If you are thinking of borrowing more for improvements, check any planning or Green Belt restrictions that may affect your property before you commit, as many Hertfordshire locations have limits on extensions. A second charge can be an alternative where your current mortgage rate suits you, but it usually has its own rate and may be more expensive overall. We compare both on the figures, including any early repayment charge.
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
Can I use a second charge in Hertfordshire to keep my current mortgage rate?
Yes, in some cases. A second charge sits behind your first mortgage, so your existing deal stays in place, but the second loan has its own rate and costs and may be more expensive overall.
How do lenders treat company director income at a remortgage?
Lenders use salary, dividends or share of profit in different ways and usually ask for several years of figures. We explain how each is likely to be treated.
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.
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