Remortgage

Coming to the end of your current rate? Wanting to fund those all-important home improvements?

Maybe you are looking to consolidate debt. We can help you on your re-mortgage journey, from comparing remortgage rates to making the big switch, we can make the process fuss-free.

Small toy house held in hands

What is remortgaging?

Remortgaging is the process of switching to a new mortgage repayment deal, or renewing your existing mortgage under new terms. As personal circumstances often change, it is important to re-evaluate whether the mortgage you initially took out is still the best deal for you. The process of remortgaging is simply shopping around to see if there is a chance for you to save money on your repayments.

Is remortgaging right for me?

Remortgaging is a big life decision.  Before you decide to go ahead, you should consider early repayment charges which can often outweigh the benefits of switching deals and also ensure that you’re in a financially viable position to remortgage, as your house can be repossessed if you are unable to keep up with the payments. As a rule of thumb, if you own less than 25% of your home it is unlikely that you’ll find a better deal.

Many people choose to remortgage in order to take advantage of low interest rates or to move from interest-only to a repayment mortgage. Remortgaging can also offer you the flexibility to consolidate your debts into an affordable monthly payment.

If your fixed-rate deal has come to an end, you’re on your lender’s standard variable rate or your property’s value has increased, it is probably a good idea to investigate remortgaging.

We work with hundreds of lenders in the North East and North West of England and have access to competitive rates. We will work closely with you, taking the time to understand your life goals and long-term plans to ensure that you find the most suitable solution for you and your family. Call us today for a free, no-obligation chat.