What is a remortgage?
Remortgaging happens when you change the mortgage you currently have on your property, either by switching it to a new lender or by moving to a different deal with your existing lender. It can be a good way to find lower interest rates and better mortgage terms.
Why you might want to remortgage
Your current mortgage deal is about to end
When you take out a mortgage, you will usually be given a deal such as a set rate over a number of years. When your current mortgage deal ends, you’ll be put on the provider’s SVR, which is usually higher. Remortgaging can help you stay on a better interest rate.
You’re on a high-interest rate
If you’re currently on a variable-rate mortgage, a rise in the Bank of England base rate can increase your monthly payments. If you remortgage, you could find a more competitive fixed-rate deal instead.
Remortgaging allows you to realise equity in your home, allowing you to take out a cash lump sum to pay for home improvements or pay other debts.
Increased property value
If your property value has increased, your lower loan-to-value might help you qualify for better interest rates.
How we can help
Our network advisers can help find the most relevant deal for you, with access to over 90 different lenders we cover the whole of the market. Whatever your circumstances our advisers can help you find the best mortgage deal for you.
To get a quotation and find out if Remortgaging is right for you please get in touch and one of our network agents will be happy to help.