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Re-mortgaging

Everything you need to know about re-mortgaging your home can be found below.

If your mortgage rate is coming to an end, or you are considering purchasing more shares in your home, you will need to contact your mortgage advisor or lender to arrange a new deal.

We suggest that you allow at least three months for this process. If you are changing lender or borrowing more money, the mortgage lender will require Moat to issue them with the mortgagee protection clause (MPC). This is our guarantee to the lender that should anything happen, the mortgage lender will receive monies as a first priority.

Additional borrowing on your mortgage can also be used for essential repairs that are not covered by buildings insurance and to allow one leaseholder to buy another leaseholder’s interest in the same property. Further borrowing for other reasons can still be secured on the property, but this would not benefit from the mortgagee protection clause and would therefore be at the discretion of your lender.


Need more information? Take a look at our homeownership handbook.