What is Remortgaging?
Remortgaging is the process of switching your existing mortgage to a new lender or negotiating a new deal with your current lender without moving home.
This can be done to secure a better interest rate, reduce monthly payments, release equity, or switch to a different type of mortgage.
By remortgaging, homeowners can potentially save money, manage their finances more effectively, or achieve specific financial goals. It typically involves paying off the current mortgage with a new one, often with more favorable terms.
Remortgage Advice
We are specialists in remortgages and product transfers, and we believe that receiving the right advice throughout your mortgage lifetime is invaluable.
Reviewing your remortgage options is crucial, especially when your current mortgage scheme is nearing its end. By doing so, you may secure a better interest rate or obtain additional funds for home improvements or capital raising.
Lenders now often offer product transfers to retain existing borrowers. However, it is essential to compare these offers with those available on the open market, as you may find better terms and lower interest rates. We help people evaluate both options to make informed decisions.
A remortgage involves taking out a new loan on a property you already own to replace your existing mortgage. There are several reasons you might choose to remortgage, including:
- Securing a better interest rate and lowering your monthly mortgage payments
- Preparing for the end of your current mortgage deal
- Borrowing additional funds for home improvements
- Consolidating debts to reduce your monthly outgoings
- Concerns about potential interest rate increases
- Seeking a more flexible mortgage
- Switching from an interest-only to a repayment mortgage
Remortgage Deals
Remortgaging isn’t always the best option. There are alternative solutions available, such as further advances, second charge mortgages, or personal loans.
We provide tailored advice to help you find the most suitable loan for your circumstances. Additionally you will benefit from automated mortgage reviews scheduled at the appropriate times.
Our goal is to assist you by conducting open market research on products offered by your existing lender and comparing them with the broader market. This approach ensures that you can make informed decisions and potentially save as much as possible on mortgage interest payments over the term of your loan.