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Remortgage Guide

As a Remortgage customer, you’ll already know the drill when it comes to mortgages. So, should you wish to re-negotiate your mortgage without moving home, then you’ve come to right place.

Make your Happy Place even happier

At Progressive, we know exactly what you need from a mortgage. We can offer you up to 85% of the value of your home along with the option of free standard legal fees or £500 cash back to help with costs.

We also offer a free valuation and the option of applying for additional funds for home improvements*.

*Subject to criteria

Feel right at home with Progressive

For over 100 years, we’ve been helping people in Northern Ireland find and fund their happy place. We’re a building society, made up of local Members helping local people buy homes in our local community.

We only lend on properties within Northern Ireland.

We have 11 branches throughout Northern Ireland, each with qualified Mortgage Advisors who have vast knowledge of their local area and market, so you’ll always be speaking to someone with great expertise.

Reasons to Remortgage

There are various reasons why remortgaging is a good idea. We’ve outlined some of the main ones below:

  • You want to switch to us from a different lender because you’re at the end of a deal
  • You want to look for a more competitive interest rate, so monthly payments will be lower
  • You wish to increase or decrease the mortgage term due to your personal circumstances
  • You want to release some extra cash for home improvements

If you have another reason for remortgaging, we’re all ears! Talk to us today.

Getting the Remortgaging process up and running

Whether you’re searching for a better rate or wanting to release some capital, let us guide you through your remortgaging journey.

Simply book an appointment with your local branch to find out the full range of options available to you.  

Remember to bring the following along with you:

  • Proof of identity; a current passport or driving license
  • Proof of address; a utility bill or bank statement from within the last 3 months
  • Proof of income; if employed, latest P60 and last 3 months payslips, if self-employed, last 3 years business accounts (most recent accounts must not be older than 18 months) or last 3 years SA302’s and corresponding tax year overviews;
  • Bank details; last 3 months’ bank statements showing income and spending

Details of any existing financial commitments; up to date balance of credit or store cards, personal loans and hire purchases

Our Remortgaging options on offer

We offer two main types of mortgage: Fixed Rate and Variable Discount Rate.

We know that everyone’s circumstances are different, so we have a range of products to suit your particular needs.

  • A Fixed Rate means your monthly payments remain the same, so you’ll know exactly how much you’re paying each month
  • A Variable Discount Rate means that your monthly payments could fluctuate, depending on the external market interest rates.

Each mortgage product covers a term of 2, 3 or 5 years.

After this period, your mortgage will automatically switch to Progressive’s Standard Variable Rate, which may mean that your monthly repayments increase. We’ll write to you before this happens, inviting you to talk to us about switching to a better deal.

When you remortgage with Progressive we want to make sure you’re always getting the most suitable mortgage for your needs. Use our remortgage calculator to see what products we could offer you. 

Take Notes

Isn’t it funny how you always remember questions AFTER you’ve left the appointment? Why not have a think now and jot down the information that’s important to you such as: branch manager or mortgage advisor’s details, appointment times and any queries you may have.

Jot down the information that’s important to you as well as your local branch manager’s details, appointment times, etc.

Speak to our team today

We’d love to talk you through the mortgage process and help you find a suitable product. For more information or to apply for an account, you can call us, email us, pop into one of our 11 branches. We look forward to hearing from you.

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We have 11 branches across Northern Ireland.

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