Remortgage

Remortgaging is a process where you effectively replace your existing loan with a new one, with a view to improving your terms and overall circumstances.

If you’re approaching the end of a fixed rate for example and want to avoid falling on to the lender’s standard variable rate (and inevitably your monthly payment increasing) then you’ll want to review your options…

It doesn’t always work out best to remortgage though, sometimes you’ll be better off staying with your existing lender – but it’s important to make sure you review the options available to make sure you aren’t missing out on a much better deal. More often than not, it may work out best to switch to a new lender altogether – it’s not unusual for people to save several thousand pounds over a 2/3/5 year period with a new mortgage deal.

When remortgaging you could raise capital from your equity for a number of reasons, some of the most common reasons include (but not limited to);