If you’re at the end of your current mortgage deal, then it might be time to swap to a better one with a remortgage.
Remortgaging is where you take out a new mortgage, with a new introductory rate. You can remortgage with the same lender, or a new lender altogether.
It’s a good idea to remortgage regularly, whenever you come to the end of your fixed rate or discounted deal, and before you move onto your lender’s standard variable rate – which can sometimes be more expensive than other available deals.
But that’s not the only reason to look at a remortgage – if your property has increased in value, a remortgage can get you onto a better rate, or you can use it to release some equity.
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Why should I remortgage my home?
You should consider remortgaging if:
- You’re on a standard variable tariff
- Your current agreement is coming to an end
- You want to release equity from your property
- You’re on a high interest rate
- You want to offset your savings
- Your property value has increased
- You want more flexible terms
Remortgaging at the wrong time, may come with an early repayment charge. However, sometimes the cost may be subsidised by the reduced costs of the remortgage.
We have qualified mortgage advisors available to help and guide you through your remortgage, and ensure you’re taking the best option for you and your situation.
When’s the best time to remortgage?
The best time to start looking for a remortgage is between 3 – 4 months before the end of your current deal. This will give you enough time to find the right mortgage and get everything in place to coincide with the end of your current deal. It’s also important to time things right, so you don’t pay any early repayment charges. With our whole of market panel, our advisers will be able to compare the products and find you the best rates available – quickly and stress free.
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A&A Independent Financial Services Ltd (FCA number 950425) registered Office: 2 Acorn Grove, Kingswood, Tadworth, Surrey, KT20 6QT
The actual APRC you are eligible for depends on individual circumstances. If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the amount you repay.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
The Financial Ombudsman Service (FOS) is an agency for arbitrating of unresolved complaints between regulated firms and their clients. Further details of the FOS can be found on its website: www.financial-ombudsman.org.uk