Put simply, remortgaging is swapping your current mortgage deal for a new mortgage.
There are many reasons why you might want to consider remortgaging such as:
- To get a better mortgage deal
- Because your current deal is coming to an end
- To consolidate other debts
- To raise capital for home improvements or other large purchases
- To buy another property
Staying with your current lender may be convenient but could also be a much more expensive option. If your mortgage deal expires you could end up paying the lender’s standard variable rate (SVR) which is typically more expensive than the initial product rate. You could switch to another product with your current lender, but this isn’t necessarily the best option for you.
The only way you can be sure you are getting the best deal is to compare mortgages from across the whole of the market to find the lowest cost product that meets your needs. This is where we can help.
Not only will we assess your needs and source the most suitable product for you, but we will also take control of the application to ensure your remortgage goes as smoothly as possible. We’ll take away much of the stress of remortgaging without charging you a fee for our service.