Already comfy in your own home but want to remortgage for:
– Better rates and to save yourself money.
– Your current deal is about to end.
– Home’s value has gone up.
– Think interest rates might change.
– Would like to borrow more.
– Switch from interest only to repayment.
We will research over 120 lenders and tailor a comprehensive solution, that includes finding a mortgage product for your circumstances.
When looking to remortgage you should consider all the costs involved, you may not be moving but there could be lenders fees, valuers and solicitors costs to take into account.
Although even with those costs switching mortgage product can end up cheaper than staying with your current mortgage. Using a broker can help you see which product will save you the most overall by taking into account all the costs and doing the maths with you.
Reasons for remortgaging.
See our jargon page for an explanation of mortgage phrases.
– Better rate and save yourself money: interest rates are always moving and we could help find you a better rate than your current deal. We will also advise whether or not your current product has an ERC.
– Deal is about to end: Many of the best rates only last a short time before reverting to a SVR, we suggest looking to remortgage to a better deal around 12 weeks before your current deal ends.
– Home value has gone up: you could be eligible for a better LTV interest rate. If you have paid off some of your mortgage or home prices have risen your LTV could be lower, giving access to better rates.
– Think interest rates might go up: If you are worried interest rates are about to rise it might be worth fixing your deal, we recommend seeking advise before remortgaging on this basis.
– Would like to borrow more: you could be looking to do home improvements or a purchase a new car, whilst taking advantage of low rates, we can help calculate the true cost.
– Switch from interest only to repayment: Been thinking a endowment might have a shortfall or you would like to start paying down on the debt.
Things to consider when remortgaging:
– Do I have an ERC to pay? We can help you compare your current mortgage to a new product and see the true cost of switching.
– When can I remortgage? The short answer is when the benefits outweigh the costs. We suggest looking into remortgaging 12 weeks before your current deal ends.
– Should I consolidate debts? Depends on your circumstance. It may seem like a win-win but there is more to consider than just the headline mortgage rate.
See our FAQ page for other questions answered.