We offer a comprehensive range of mortgage products from the market.

Free Mortgage Consultation

To answer any questions you may have with no obligation.

The most suitable Deal

We review the market and what your current provider would offer to get you the most suitable deal.

Offering you the very most suitable Rate

If the interest rates on the market were to be reduced before completion, we will review the rates for you.

Funding Extra’s - No Problem

If you want to borrow more for things such as home improvements, debt consolidation or a deposit on a buy-to-let property, we can look at this for you.

Property Valuation Check

We will check the valuation on Zoopla for you.

Why remortgage?

People want to remortgage for a variety of reasons, such as:

  • To secure better interest rates and lower their monthly payments.
  • To obtain a mortgage with more flexibility, such as payment holidays.
  • To release equity for an investment.
  • To pay more each month and pay off the mortgage sooner, for example if you’ve inherited money or your income has increased.

Whether you’re looking for a more competitive rate, borrowing money for a specific purpose, consolidating your debts, fixing your mortgage to protect against future interest rate rises, or remortgaging your home for an investment, we can search from across the market to find the most suitable mortgage deal for you.

Remortgaging your residential home

When you remortgage your home, you switch your mortgage product from your current lender to a new one. This is commonly done at the end of a fixed-rate term, as after this time you will move onto the lender’s Standard Variable Rate (SVR). These rates are often higher than the fixed rates and mean your monthly payments will increase. By remortgaging, you can get a better deal for yourself that will help you to save money in the short and long term.

You can ask your current lender to provide you with a new offer (called a product switch/transfer), which is faster and less complicated than switching to a new lender. However, the offer they give you may not be as competitive as other ones on the market with different lenders.

If your mortgage has been paid in full, or it has been paid to a large extent, you can remortgage your property to release equity for an investment, such as a second property. You could then rent out the property to acquire additional income. Speak to our team today for more information on your options.


You should consider carefully whether you are eligible for a remortgage, or whether it’s the right choice for you financially. Consider the following:

  • Penalties: Some lenders may have early repayment charges that make it costly to leave the deal. Some lenders also have exit fees that range from £50 to £200.
  • If your current deal is already one of the best on the market.
  • If you own less than 10% of your property – it is unlikely you will get a better deal at this rate.
  • If the value of your property has decreased since you bought it. At this stage, you may be in negative equity. It is recommended in this situation to make overpayments where possible and wait for the value of the property to increase again.
  • Credit scores: If you have a poor credit score, the likelihood is that you will not get good deals elsewhere as lenders will view you as high risk. High risk borrowers are often subjected to higher interest rates.
  • If your circumstances have changed: If, for example, your income has reduced since you took out your first mortgage, you may not get a more favourable deal with a new lender.

To improve your chances of a good deal, you should work on improving your credit score and making sure your finances are in order. A mortgage broker can give you the right advice on which options are most suitable for you.

At Your Space Mortgages Bristol, we are experts in remortgaging and can search the entire market to tell you what deals are out there, and which deals are best suited to you and your current circumstances.

Remortgaging for buy to let

You can remortgage your current home to release equity to buy a second home. You could then rent out the second home.

Alternatively, you can remortgage your current residential mortgage into a buy to let mortgage, and take out a new, residential mortgage on a new home. This way, you can rent out the home you currently live in and move into a new home. Speak to our team for more information on these options if you’re interested in remortgaging as an investment opportunity. We can guide you on the right way forward.

The Financial Conduct Authority does not regulate some forms of Buy to Lets. Your property may be repossessed if you do not keep up repayments on your mortgage.

What is a mortgage buyout?

When you take out a mortgage product with another person, you are both equally responsible for making the monthly repayments. However, you are both liable for the repayments, even if only one of you does not pay. This means that if your partner stops paying their share of the mortgage, the mortgage lender will approach you for repayment of their share as well as your own.

When you buy somebody out of a mortgage, you are taking over their share of the mortgage and of the property. The second person will no longer be named on the mortgage or on the title deeds for the property. This is applicable to both joint tenants and tenants in common.

When you take over someone’s share, this is called a transfer of equity. As you often need to borrow more money to achieve this, remortgaging is often to facilitate a mortgage buyout.

There are many reasons why people find themselves in this situation. Such situations include:

  • A couple who purchased a home together, but the relationship has since broken down
  • Friends who purchased a home together but now one would like to move in a partner and start a family
  • Family members purchasing a home together due to affordability, but now are financially stable enough to buy a home on their own

Whatever the reason for needing a buyout, there are options available to you and the person you share a mortgage with.

Working out the cost of a buyout

To successfully buy somebody out of your property and mortgage, you will need to pay them their share of the equity that is in the home.

To do this, you firstly need to look at how much the property is worth. Many estate agents offer free valuations and can easily be booked in to visit your home. Often, they will give you their valuation on the same day, or even during the home visit.

You then need to look at the outstanding balance on your mortgage. Once you have the outstanding balance and the valuation, you can calculate how much equity is in the property.

You’ll have to pay the person you want to buy out their share of the equity. This can be more complicated to work out if you did not pay equal amounts each month towards the mortgage. To remove the other person from the mortgage, you must pay them their share before you can have their name removed from the mortgage and the title deeds of the property.

Remortgaging to gain equity for the buyout

To acquire the equity to conduct the buyout, you can ask your lender if you can remortgage. They will assess your income and your outgoings to determine whether you can afford the monthly repayments on your own. You should assess your affordability first before applying to make sure this is a viable option for you financially.

If you need to borrow a substantial amount, you should seek advice from a mortgage broker who can look at deals available across the whole of the market rather than only looking at the deals with your current lender.

3 easy steps to your new mortgage

  1. Fill out our online form, request a call back or call us
  2. One of our advisers contacts you to learn more about your situation
  3. Relax while we find you the right mortgage

no stress!