What does remortgaging mean?
A remortgage is a change of the mortgage deal on your property, either by switching it to a new lender, or by moving to a different rate with your existing lender. It can be a good way to find lower interest rates and better mortgage terms.
Why might i want to remortgage my home?
There are a number of reasons you might want to remortgage your home, including:
Your current deal is about to expire
You're on a high interest rate
Increased property value
How can I get the best remortgage deal?
The best remortgage deal will depend on a number of factors including your individual financial circumstances. These are some of the things to consider:
Having a good credit score will allow you to get the best advertised rates from mortgage lenders
Compare deals by the lowest rate. Consider fixed and tracker deals to see which might suit your attitude to risk
If you can borrow a lower percentage of the property’s value, you can often find cheaper remortgage deals
Administration, legal and valuation fees on a remortgage can offset a low interest rate – so a deal is not as good as it first appears
Comprehensive steps to simplify remortgage process
Are you intimidated by the complexity of the remortgage process, do not worry we have simplified the process for you.
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