Looking for a new mortgage deal?
The process of remortgaging can be intimidating, particularly the first time. Knowing when to start the process, what you need to do and if you’re even eligible can be difficult. We’ll guide you through the process and make sure you’re informed every step of the way.
What does it mean to remortgage?
Remortgaging is simply changing to a new mortgage deal. You may choose to remortgage your property with a different lender or simply take a product transfer (remortgage onto another product with your current lender).
The majority of those looking to remortgage want to save money, but some also look for a new deal with greater flexibility, such as the ability to make mortgage overpayments, or offset their savings against mortgage interest.
Another common reason is to borrow more money against your home to fund home improvements or large one-off purchases.
What is remortgaging?
When your mortgage deal comes to an end, you have the option to switch to a new deal. This could offer better terms, lower repayments, or give you the option to borrow more money. Choosing to switch lenders or transfer to a new product from the same lender can have widespread implications for your finances, so it’s vital to get expert advice.
Whether you are looking to save money on your mortgage, find a more flexible deal, or borrow more money to pay for things like home improvements or debt consolidation, we can help. We’ll look at your current financial circumstances and explore all of the options available to you.
Why should you consider switching mortgage products?
he decision to stay put with your current mortgage and provider or switch to a new lender can be difficult to understand. There is a good chance your first mortgage was offered at an introductory rate, and you could see your monthly payments increase if you stay put.
If you have been told you will switch to your lender’s standard variable rate (SVR) when your mortgage term comes to an end, you might be financially better off by switching lenders.
We can help you to assess your options and look at the alternative options available to you. This could include choosing a new product from the same lender or switching to a new lender. We’ll help you to understand the financial implications of each option so you can make an informed choice.