Remortgages in Abbey Wood

With the arrival of the Elizabeth Line and ongoing regeneration, many Abbey Wood and Thamesmead homeowners are reviewing their mortgage to secure better rates or release equity. We help you navigate your options and line up a new deal before your current rate ends.

Why Remortgage?

• Secure a new rate: Avoid reverting to a higher SVR.
• Reduce payments: Improve rate or adjust term for affordability.
• Release equity: Fund upgrades, extensions or other plans.
• Change product type: Switch between fixed and variable products.
• Change borrowers: Add/remove a borrower as circumstances change.

When to Start

Most Abbey Wood clients start looking at new deals around 6 months before their existing one ends so they can transition smoothly.

Your Options in Abbey Wood

• Product Transfer: Simple switch with your current lender.
• Full Remortgage: Move to a new lender offering more competitive terms.
• Further Advance: Borrow more for home improvements or other uses.
• Later Life Options: Equity release and later life lending via FCA-authorised advisers.

How Lenders Assess a Remortgage

• Property Value & LTV: Current value for SE2/SE28 vs mortgage balance.
• Income & Outgoings: Salaries, benefits, self-employed income and regular commitments.
• Credit History: Records of repayments and existing borrowing.
• Property Type: Houses, ex-local authority flats and new builds may be viewed differently by each lender.

Costs to Factor In

• ERCs: Check early repayment charges on your current deal.
• Valuation & Legal: Often included in remortgage products at no extra cost.
• Arrangement Fees: We’ll compare fee and fee-free options.

Step-by-Step: The Remortgage Process

1. Review: Understand your current deal, balance and goals.
2. Compare: Look at new deals with your lender and alternatives.
3. DIP: Obtain a Decision in Principle for a new lender if needed.
4. Application: Submit documents and arrange valuation.
5. Offer: Receive mortgage offer; legal work completed.
6. Completion: New mortgage replaces your old one.

Raising Funds: Common Uses in SE2

• Extensions and internal refits.
• Improving energy efficiency (windows, insulation, heating).
• Consolidating other borrowing, where appropriate.

Self-Employed & Variable Income

We’ll help present accounts, tax returns and any additional income clearly so lenders can understand your full financial picture.

Tips to Strengthen Your Case

• Check your credit report for errors.
• Try to reduce card balances where possible.
• Ensure your bank statements show stable conduct.

How We Work

We provide clear information and introductions. Where personalised advice is required, we introduce you to an FCA-authorised adviser to recommend a suitable remortgage product.

Useful Links

Mortgage Calculator ·
First-Time Buyers ·
Buy-to-Let ·
Contact Us

Remortgage FAQs — Abbey Wood

Can I remortgage an ex-local authority flat?

Yes, some lenders are comfortable; others are more cautious. Criteria vary, so the right lender choice is key.

Will an Elizabeth Line location help my valuation?

Transport links can support local values, but the impact is ultimately determined by surveyors and comparables.

Ready to Review Your Rate?

Talk to our Abbey Wood team about your remortgage options and next steps. Send an enquiry today.