Remortgaging
Remortgaging means switching your mortgage to another deal sometimes with another lender, without moving property.
When you remortgage, you take out a new mortgage on a property you already own, either to replace your existing mortgage, or to borrow money against your property. Many borrowers choose to remortgage in order to take advantage of the wide range of interest rates on offer.
We will always consider whether moving to a new lender or staying with your current lender is the best option for you. We can help you with switching your existing mortgage to a new rate.
As a current homeowner, you may make the decision to remortgage for a number of reasons.
- To switch to a competitive deal, in line with your needs, circumstances and preferences.
- In order to consolidate debt or raise funds
- To carry out home improvements
If you are looking at switching your mortgage deal, you should look at the overall repayment period too. Your monthly cost may be less, but don't forget to check the final repayment date of your mortgage as it may be longer than your current deal.
Why not contact us with the date your current mortgage ends?
We can contact you nearer the time to discuss your requirements and advise on a suitable mortgage.
We promise to recommend the right mortgage for you.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Consolidating debt may reduce your outgoings now, however you may pay more interest over your mortgage term.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Think carefully before securing other debts against your home.