To remortgage is to move your existing mortgage on your current property from one lender to another. Your new mortgage will then replace your old one.

It might be worth remortgaging when you come to the end of a fixed rate, as a new lender will likely offer a better deal. 



There are several considerations here. Are you coming to the end of a fixed term? Do you think the interest rates are likely to increase any time soon? Has your home value increased and do you have equity in it? Do you need to borrow some more money to consolidate debts or perhaps undertake some home improvements?

It could be that your loan size has reduced significantly since your last mortgage application and therefore now you may be able to access a lower interest rate, but make sure you look out for exit fees and the like. 

Consider everything thoroughly; give us a call and we can discuss your options to aim to find the best new deal for you and your personal circumstances. 

There are times when remortgaging can be the best decision, but equally, there are times when it’s not the most sensible option. Such as if your current mortgage deal has high exit fees or early exit fees if you are currently fixed in. Or, you’re already on a great deal and one which can’t be beaten. 

Other areas to consider when remortgaging would be how far you are from paying off your current mortgage. Plus, keep an eye on the value of your property, as depending on the housing market and the area in which you live in, it might well mean that your house has declined in value. 

We are experienced in all kinds of mortgages, so do not hesitate to contact us and we can go through your options. We will be aware of deals not available on the high street and will only approach lenders who we think are likely to accept your application. 

We’re here to help and will always be honest with our advice. If we think you’re on the best deal, we will tell you. 

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