Remortgages
Securing a better mortgage deal for business owners, professionals and contractors.
Access better rates or release equity from your property.
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Unlock Better Mortgage Deals with Broadbench
Navigating the mortgage landscape can be challenging—especially for contractors, self-employed professionals, and limited company directors. Traditional lenders often rely on rigid income assessments that don't reflect your real earnings.
At Broadbench, we specialise in self-employed remortgage solutions that align with how you work, helping you avoid being penalised for non-traditional income.
Speak to an expertRemortgaging: Accessing Competitive Rates
Remortgaging allows you to switch from your current mortgage to a new one—typically with a better deal. Whether you're looking to lock in the best remortgage rates UK, switch to a 2 year fixed remortgage, or even remortgage to release equity from your home for renovations or investments, we can help.
We work closely with lenders who assess affordability based on your contract rate or company earnings, making it easier for those pursuing a contractor remortgage, director remortgage, or limited company remortgage to access competitive deals.
Even if you’re dealing with credit challenges, we can help you remortgage with bad credit by connecting you with specialist lenders who understand your situation.
Need help figuring out your borrowing power? Try our remortgage calculator to estimate your potential savings and affordability today.
Speak to an expertProduct Transfers: A Streamlined Alternative
Not ready to switch lenders? A product transfer mortgage allows you to change your mortgage deal with your current lender. It’s often quicker, comes with fewer fees, and avoids legal work—ideal if you’re happy with your lender but want to secure a better rate.
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Proactive Rate Monitoring
At Broadbench, we continuously monitor mortgage rates on your behalf. If a more favourable rate becomes available before your mortgage completion, we'll switch you onto that deal.
Please note that any changes are subject to lender policies and processing timescales.
Why Choose Us?
We collaborate with lenders who genuinely understand the nuances of self-employed income and flexible working arrangements. Our approach includes:
- Contractor-Friendly Lenders: Specialising in contractor remortgage and self-employed remortgage applications.
- Tailored Advice: Expert, personal guidance based on your financial situation.
- End-to-End Support: From initial consultation to mortgage completion.
Navigating IR35 and Umbrella Company Challenges
If you work via an umbrella company or are affected by IR35, securing a mortgage can be complicated. We help contractors access lending products—even when operating under umbrella structures—by working with lenders that understand this income model.
Speak to an expertEnhance Your Mortgage Knowledge
To support you further, we've developed a suite of resources to guide you through the mortgage process:
- A-Z of Mortgage Terms: Demystify mortgage jargon with our comprehensive glossary.
- Time To Remortgage?: Explore the benefits of reviewing your mortgage options.
- House Hunting Tips: Discover strategies to find your ideal home.
- Struggling To Find A Conveyancing Solicitor?: We recommend Hutchins & Co.
- Essential Questions to Ask When House Hunting: Ensure you're making informed decisions during viewings.
- Crack the Contractor Mortgage Code: Navigate the mortgage landscape as a contractor.
- Mortgages: Your Top 10 Questions Answered: Get clarity on common mortgage queries.
- Fixed vs. Variable Rates: Determine which mortgage rate suits your financial goals.
Ready to Explore Your Options?
Whether you're planning a remortgage as self-employed, considering a contractor remortgage, or simply looking to secure the best remortgage rates UK, Broadbench is here to help. We also support clients through product transfer mortgage options if you're staying with your current lender.
Let’s discuss the best way to improve your mortgage—and your financial future.
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What do I need to secure a better mortgage?
To get started, you’ll typically need:
- A current property valuation
- Your contractor or business contract showing your day rate
- 3 months’ bank statements
- Sufficient funds for solicitor’s and survey fees (we’ll guide you through the costs)
- Your latest CV (for contractor applications)
- Proof of ID and address
What we offer
- Access to day-rate-friendly home mover and remortgage lenders
- We’ll handle the paperwork and liaise with third parties
- We’ll help you secure
- the best deal—whether that’s through a full remortgage or a product transfer
Our Advice & Fees
Product Transfers
(Remaining with your existing lender): No fee
Remortgages
(Moving to a new lender): £250 arrangement fee (a reduced rate for existing clients
Your Rights
You may be able to claim compensation from the FSCS if we cannot meet our obligations. The amount of compensation available will depend on the type of business and the circumstances of the claim.
We can provide more specific information on request, but as a guide, eligible mortgage claims related to advising and arranging are covered for 100% of a claim up to a maximum limit of £85,000 per person per firm.
Ready to remortgage?
Fill out the form below to arrange a time to speak to a mortgage expert.
FAQs
What is remortgaging?
Remortgaging is the process of switching your existing mortgage product to a new mortgage product, either with your existing lender or a new lender.
What happens when my fixed-rate mortgage deal comes to an end?
If you’re currently on a fixed rate mortgage, it means for a period of time (typically between 2-5 years) the interest you pay and the monthly repayment will be fixed. Once your fixed mortgage deal comes to an end, you will be placed on the ‘Standard Variable Rate’ (SVR). Each lender sets their own SVR and it tends not to be as competitive as fixed-rate mortgages.
I was permanent when I took out my mortgage but now I am earning a day rate. Will I be accepted for a remortgage as a contractor?
You will still be able to get a mortgage however, your existing lender might not be able to understand your income now you’re contracting. It’s important to speak to a specialist contractor mortgage adviser who works with the whole of market and will find a lender that can understand your income and make sure you’re getting the best mortgage product available.
How much could I save by remortgaging?
It’s important to speak to a specialist mortgage adviser who works with the whole of market.
What documents do I need to remortgage?
If you’re switching to a new lender, the documents you need to provide will be similar to when you applied for the first mortgage. This will include details of your current and previous contract (if applicable), 3 months’ bank statements and if you have less than 3 months remaining on your contract, they will require a contract extension.
Are there any charges for remortgaging?
There are some fees to be aware of when remortgaging, for example, some lenders have upfront product fees that can be added to the loan, usually about £1000. Lenders do offer a free legal and valuation service to help you switch. If you’re not sure whether you’d want to pay a product fee, a mortgage specialist can help you look through the options.
Can I borrow more by remortgaging?
A great benefit of remortgaging is that it gives you an opportunity to borrow more money. This can be used to make home improvements such as building an extension or refurbishing the kitchen or bathroom. Make sure you speak to an expert mortgage adviser to help assess how much you can borrow based on your day rate.
Where can I find the best rate?
This is where we can help. Scouring the market for the best mortgage product can be a long and difficult process and, unless you have the right expertise, you may not end up with the best deal for you. Our specialist mortgage advisers do all the leg work, working with contractor-friendly lenders, so you don’t have to. Speak to your Broadbench adviser and see how much you could save on your remortgage.