Published by Empreso | Empowering Smart Property Decisions
As your mortgage deal nears its end, your lender will likely send you a letter offering a “simple” product transfer. It may seem convenient to stick with your current bank. But here’s the truth: convenience could cost you thousands.
Below, we debunk the most common remortgage myths and explain why working with an independent broker can be one of the smartest financial decisions you make this year.
💭 Myth #1: My bank will automatically give me the best deal
Reality: Banks often reserve their most competitive rates for new customers. As an existing borrower, you’re unlikely to be offered the best available product—especially if you’re not actively shopping around. A broker can compare hundreds of deals across the market, including exclusive offers not available directly to the public.
💭 Myth #2: Switching lenders is too much hassle
Reality: In many cases, switching is seamless. Most remortgage deals come with free legal work and free property valuations. The paperwork is handled by professionals, and a good broker will take care of the entire process from application to completion, minimising stress and disruption.
💭 Myth #3: Staying with my lender is the safer option
Reality: The real risk is financial—specifically, overpaying. If you do nothing, you could end up on your lender’s Standard Variable Rate (SVR), which is often 2–4% higher than a competitive fixed deal. That’s hundreds of pounds a month in unnecessary payments.
💭 Myth #4: I probably won’t qualify elsewhere
Reality: Every lender has different criteria. A rejection from your bank doesn’t mean you’re out of options. Brokers understand lender nuances—some are more flexible with self-employed income, others with credit history or loan-to-value ratios. A broker’s insight could open doors you didn’t know existed.
💭 Myth #5: Brokers charge hefty fees
Reality: Many brokers, including us at Empreso, offer fee-free advice for standard remortgage cases. Even when fees do apply, they are clearly disclosed and usually dwarfed by the long-term savings you’ll gain by securing a lower interest rate.
🎯 The Bottom Line
Don’t assume loyalty will be rewarded. In banking, it rarely is. Your mortgage is likely your biggest financial commitment—so reviewing your options should never be an afterthought.
Using a broker gives you access to whole-of-market research, expert insight, and tailored advice. Whether you switch lenders or stay put, you’ll be doing so from an informed position—not blind trust.
“The cost of inaction can be far greater than the cost of advice.” — Unknown
Take control of your mortgage. Let us help you navigate the market and secure the deal you deserve.
About Empreso: We are a network of property and finance professionals dedicated to helping you make smart, informed choices. Whether you’re buying, remortgaging, or investing, our team of licensed experts is here to support you with clarity and care.
📞 Book a free clarity review | 🌐 www.empreso.co.uk
About the Author
Alain Mbe is a property search consultant, entrepreneur, and founder of Empreso — a network dedicated to building prosperity through property, finance, and collaboration. With over 25 years of experience, Alain helps everyday people make smart property decisions and grow wealth the ethical way.
Author: Alain Mbe
Alain Mbe is the founder of Empreso, a purpose-led network helping individuals create, protect, and transfer wealth through property, finance, and legacy planning. With over two decades of experience in property investment and a background as a qualified mortgage adviser, Alain is passionate about empowering people to achieve prosperity with intention. He writes about property strategies, financial planning, and personal transformation—offering practical insights and actionable steps to thrive in today’s evolving economy.