What is a Remortgage?
Remortgage is the process when your current mortgage deal is coming to end, and you may need to negotiate a new one. You can stay with your current provider which is called a product transfer or you might want a new mortgage because you can get a deal that’s better suited to your current circumstances with a different lender.
Remortgaging may sound complicated, but with our expert advice and insight on your side, it’s easier than you might think. Unlike comparison sites or going direct to the lender to remortgage, we do the hard work for you. Our whole of market sourcing ensures you’re getting the best option for your specific needs, rather than a generic solution that doesn’t tick all the boxes.
Is it time for you to Remortgage?
People remortgage for various reasons such as:
- Your current mortgage deal is coming to an end.
- You want to borrow additional money for things like home improvements.
- You’re looking for a better interest rate or mortgage deal.
- To consolidate outstanding debts.
With 6 months or less on your current mortgage deal, it’s time to get in touch, to allow us time to find you the best mortgage for your specific needs and circumstances.
Many borrowers choose to review their mortgage every few years in order to take advantage of the new rates on offer and avoid staying on a standard variable rate. Those that remain on the same deal for the full term of their loan could lose out by paying more money than they need to. They could also miss out on the chance to finish their mortgage term earlier than originally planned.
Although debt consolidation can lower your monthly payments and make them more manageable, it typically involves extending the repayment period, leading to higher total costs in the long run. It is important to understand that consolidating loans by adding them to your mortgage transfers unsecured debt to secured debt, putting your home at risk. Therefore, it is advisable to seek guidance before making this decision.
