Remortgages are in full swing as record low rates exist with any lender who wants to look your way. But the process is a lot more complex than just a few years ago. Home values are still sinking and necessary paperwork to complete the process is out of control. With everything required, it is easy to make a mistake along the way.

To stay alert and avoid complications here are 5 things to not do while you remortgage your home:

First, do not make the mistake of overestimating your home’s worth. The most common reason for a home remortgage refusal is that an appraisal comes in too low. No lenders are going to give you money in excess of the appraised value.

Next, do not hesitate after deciding to remortgage. If you are serious about taking advantage of a lower interest rate, don’t fool around and miss the chance to obtain a great rate. Always close two or three days ahead of when the locked in rate expires in case of a delay.

Third, understand the appraiser puts together an estimate of the home on the day of the inspection. Do not get ambitious and think a bathrooms remodel can be finished in an hour. If renovations are planned do them after the remortgage.

Furthermore, stay in contact with the lender. Always maintain an accessibility that makes it easy to work with you. There are many times a lender will ask for documents to be delivered to them between application time and closing. Being absent just slows everything down.

Finally, take a long look at the big picture. If you have been in a mortgage agreement for five to six years, don’t start back at square one by agreeing to a 30 year mortgage again. Go with a 20 or 25 year mortgage and save thousands on interest pounds.