YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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Remortgage

Expert advice for remortgaging your property

RemortgageWhen you remortgage, you are switching your mortgage to another deal and frequently, another lender.



Remortgages can be used for various reasons. However, most people simply switch mortgages because it will work out more cost-effective for them. For example, the introductory discounted interest rate may have finished with your current lender; therefore you could potentially get a new discount rate, or a lower APR, with another lender.


Remortgaging is not the best option in all cases. Even if the lender you are considering switching to is offering a lower APR, you must take into consideration: 

  • The new lender may charge you for valuation and solicitors fees, even if you have already paid these for your mortgage with your current lender.
  • If you switch mortgage remember to look at the overall repayment period. You may be able to pay less monthly, but check the final repayment date of the mortgage as well.
  • You may be able to switch your mortgage deal with your current lender, avoiding any unnecessary costs. We can assist you with a product switch with your existing lender.
  • You may also have to pay an early repayment charge to your existing lender if you re-mortgage. Please check any charges with your existing lender before beginning a new mortgage application. We are happy to advise you on this.

If you are looking to remortgage contact us now to make an initial telephone or face to face appointment.