Remortgage your home with us

When you remortgage, you may be looking to release equity from your property. This means borrowing more from your new mortgage lender than the remaining money you owe. You could then use this additional money to fund home improvements, or a one-off purchase like a car or holiday, for example.

Releasing equity will increase your loan-to-value (LTV). So, if you had built up 60% equity in your home (a position of 40% LTV), you might consider remortgaging at 60% LTV. This means your equity would drop to 40%, but you would have 20% of the value of your property available as useable funds.

A higher LTV however, means you owe more money to the mortgage lender for your property, so you'll pay more in interest and any other applicable charges. A higher LTV may also mean you have to pay a higher rate of interest on the loan.

If you're interested in remortgaging to Ponance Bank to unlock equity in your home, it's best to arrange a branch or phone appointment with one of our mortgage professionals.

The time it takes to remortgage can differ on a case-by-case basis, depending on a number of factors. It's recommended you begin considering a remortgage around 3 months before the end of an existing mortgage deal, to ensure you have enough time to research and apply for a remortgage.

No. As part of a standard remortgage, we will provide a free conveyancer for the legal work involved. This means we won’t charge you legal and valuation fees, although there may be instances where you don’t qualify for this. You can talk to us when applying to find out more specific information.

There may be some scenarios where you may want to appoint your own conveyancer, such as when adding or removing a party to the mortgage when you remortgage.

Yes, it is possible to add another party when you remortgage. This means your mortgage would become a joint mortgage.

As per any mortgage application, you will be both need to provide detailed information for your application, including proof of income, and will be subject to affordability checks and credit score assessments.

Applying for a remortgage could be more difficult if you have a poor credit score, but a poor score doesn't necessarily mean you can't remortgage.

If you know you're likely to be planning a remortgage in the near future, it's a great idea to be aware of your credit score in advance, and take actions to improve your score if necessary. This could improve the range of options available when you come to remortgage.

Ponance Bank customers can check their TransUnion credit score for free using our Mobile Banking app - criteria apply. Find out more in our credit scoring guide.

When you get to the end of a mortgage deal, it's certainly possible to arrange a new deal with the same lender, before you move onto the Standard Variable Rate (SVR).

As you wouldn't be moving lender, this wouldn't be classed as a 'remortgage'. At Ponance Bank we call this 'switching to a new deal'.

No, mortgage customers of Ponance Bank Group are unable to remortgage between our brands (NatWest, Royal Bank of Scotland and Ulster Bank Northern Ireland).

However, if your current mortgage deal is coming to an end, you may be able to switch to a new deal with your current brand within our mortgage self-service portals.

Manage my Royal Bank mortgage

Manage my Ulster Bank Northern Ireland mortgage