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Remortgaging with your current lender

If you鈥檇 like to stay with your current lender and remortgage without borrowing more, you don鈥檛 have to contact us or apply to remortgage, but check with your current lender if you need a Deed of Postponement.

A Deed of Postponement is a legal agreement between the first charge mortgage lender (your repayment mortgage lender) and the second charge mortgage lender (us).

There is a different application if you want to聽apply to remortgage and borrow more money.

If you鈥檙e changing lender, you need to apply to us first

If you want to remortgage with a new lender (without borrowing more), you need to apply for our permission. This is because we will need to complete a Deed of Postponement.

You鈥檒l need to pay an admin fee of 拢115 to apply to remortgage with a new lender. If you get our permission, it鈥檚 valid for 6 months.

There is a different application if you want to apply to remortgage and borrow more money.

Negative equity

You are in negative equity when your home鈥檚 current value is less than the total of what you owe on your repayment mortgage and equity loan (and any other secured charges).

If you鈥檙e in negative equity, please contact us to discuss your options.

How to apply for permission to change lender

Follow these steps to get your application ready.

1. Get a repayment mortgage redemption statement

Contact your current mortgage lender to get a redemption (or repayment) statement. This confirms the total amount you need to repay.

We need to check this to make sure you鈥檙e not borrowing more when you remortgage.

The statement must be less than 12 working days old when you send it to us. If it鈥檚 older than this, you鈥檒l have to get a new one.

2. Get your mortgage offers

We鈥檒l need to check your new mortgage offer.

Contact your new lender for a copy of your new mortgage offer.

3. Get a breakdown of your lender鈥檚 charges

Your current or new mortgage lender may charge you fees to remortgage and move to a different product or rate.

Ask for a breakdown of their fees, and check that they鈥檙e not more than 拢2000.

If they are, you may not be able to remortgage with this lender. Contact our Customer Service team to check.

4. Find a conveyancer

We鈥檒l need your conveyancer鈥檚 contact details on the application form.

You can either:

• find a conveyancer聽on the聽聽or the聽.
• ask your lender if they can instruct their own solicitor to act for both of you

5. Pay any arrears

If you鈥檙e behind with your equity loan payments, you cannot remortgage.

Make sure you pay everything you owe on your equity loan, or contact us on the details below to set up a payment plan.

After you apply, you鈥檒l also need to pay an administration fee of 拢115 to remortgage with a new lender.

6. Complete the application form and send us your paperwork

Complete the application form, and send your documents to us by email or post.

You can find our contact details at the end of this guide.

7. Pay the administration fee

After you鈥檝e sent your application form and documents, you鈥檒l need to pay us a 拢115 admin fee.

You can pay this by:

• bank transfer
• online at the link we send you
• debit card by calling 0300 123 4123
• cheque

If you pay by bank transfer, you must tell us by email or phone so we can confirm it on your customer file.

If we have your mobile number, we鈥檒l send you an SMS text message from 鈥楬elptoBuy鈥� with a unique link to HelptoBuy.paythru.com. The link works for 4 days from when we send it. We only use this payment method for your admin fee.

We cannot progress your application until we鈥檝e received this payment.

Payment details

8: Getting a decision

When we have received all your documents, we鈥檒l contact you with a decision by email or post.

If your application is accepted, we鈥檒l issue an Authority to Proceed (ATP). This is valid for 6 months from the date we issue it. If you do not complete your remortgage within 6 months, you may have to repeat the application process.

If your application is declined, we鈥檒l contact you by phone or email explaining the decision.

Complete the remortgaging process

Your conveyancer completes the remortgage process

1. If your application is accepted, we send your conveyancer an 鈥楢uthority to Proceed鈥� document, along with other documents they need to complete to progress your remortgage.

2. Your conveyancer prepares a Deed of Postponement, which we need to agree to, along with your mortgage lender. This is a legal document that ensures your new repayment mortgage is the first charge on your home. Your equity loan is the second charge on your home.

3. We鈥檒l check the Deed of Postponement, send it back to your conveyancer so that they can complete the remortgage.

4. Within 5 working days of completing, your conveyancer sends us written notification that the remortgage has completed, and a certified copy of the Deed of Postponement. We鈥檒l record the new mortgage details on your Help to Buy account.

Customer Service team

When emailing our Customer Service team, please include your account number and a brief summary of your query in your email subject line, for example, 鈥楻emortgage鈥�.

Our Customer Service team is available Monday to Friday, 8am-8pm and Saturday, 9am-1pm (excluding UK public holidays).