Re-mortgaging is a term that describes changing mortgage provider.

As we have a financial interest in your home, it is important that Ocean is aware of and agrees to any changes in your lender or an increase in how much you are borrowing.  Government money has been used to assist you to buy your home and Ocean has a duty to ensure that this is protected.

Shop Around

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We would recommend that you shop around to find the best mortgage deals available at the most competitive rates and in doing this; we promote the freedom of choice.

If you are applying to re-mortgage, we need the following.

  • A copy of your mortgage offer from your proposed new lender
  • Written confirmation of the current value of your home from your new lender (you can usually get this from the mortgage offer)
  • Written confirmation from your current lender confirming the outstanding balance (also known as a redemption statement)
  • A written explanation from you telling us why you want to change your lender

Important: If you are staying with the same lender and just changing interest rates, we do not normally need to approve this. If in doubt, please contact us to discuss.