categorySprive Academy

Six steps to finding a mortgage

How easy is it to remortgage? Sprive offers you six simple steps to get you there quickly and hassle-free.

1. Think about your priorities

First of all, consider what is most important to you when you remortgage. While the lowest interest rate and fees are attractive, there are other aspects to consider. For example, the certainty of a fixed-rate mortgage may be preferable to a variable-rate mortgage. Another aspect may be the flexibility of the mortgage.

2. Head to the Sprive app

Once you’ve defined your priorities, the next step is to go to the Sprive app. You can head to 'live deals' and book an appointment with an expert at a time that suits you. Remember, looking outside of your existing lender could save you hundreds of pounds.

3. Identify and review your chosen mortgage

Once you’ve found the best deal on your mortgage, review the terms of repayment to ensure you can afford the mortgage. For example, if you have chosen a variable-rate mortgage, work out if you can afford a jump in repayments if the interest rate increases unexpectedly.

4. Review deals with your existing lender

Within the app, you can easily see deals within your existing lender. If you book an appointment using the Sprive app, an expert will help you evaluate whether staying with your existing lender is the right option for you. If it is, we can help you secure the deal, hassle-free. By doing this through Sprive, you'll also get FSCS protection which you wouldn't get if you went direct.

5. Make the application

Once you have decided on your chosen mortgage, make the application. We'll manage this process for you with guidance on what you need to submit at each stage. You’ll normally need to complete a credit check as well as show financial proof of your earnings. Some lenders may also ask to survey your property. If the lender is satisfied, they will issue a formal mortgage offer with terms and conditions, which is worthwhile reviewing.

Finding the best deal on your mortgage is a tricky challenge in the market today. With Sprive, we help make sure you get it right.