When you originally bought your home, you would likely have taken out a mortgage to do so. Remortgaging is the process of switching your existing mortgage to a new deal; be it with the same or a different lender.

At the time of remortgaging, you may consider borrowing more money to be secured against the property, which is known as a further advance, and in some circumstances you may also wish to add or remove someone from the mortgage and lease. This is known as a deed of transfer or transfer of equity. This will require legal advice as it involves a change to your lease.

There are a wide range of mortgage deals available on the market and as such we would recommend you use the services of a mortgage advisor to help assess the best deal for you.

Why Remortgage?

There are many reasons why you may be considering remortgaging.

  • To reduce your monthly payments by benefiting from a more competitive interest rate.
  • When your existing fixed rate deal comes to an end you may want to shop around for a new product.
  • To secure a further advance to enable you to purchase further shares in your property (staircasing).
  • To finance home improvements.

Our  Remortgaging Guide  details the process in full, including information on costs involved. If you have any queries, please do speak to a member of the Gateway Housing team by emailing

You might also find our General Tenant's Rights Guide  useful.