Why compare remortgage deals?
Going to your bank is no longer the best thing to do when it comes to mortgages. There are often better deals available from other lenders.
Using us and comparing over 100 lenders could save you £1000's over the term of your mortgage.
Using us and comparing over 100 lenders could save you £1000's over the term of your mortgage.
What is a remortgage?
In times gone by the word remortgage was associated with bad money management but not anymore, now it is regarded as potentially a smart move.
A remortgage, also known as refinancing, involves switching your existing mortgage to a new deal, either with your current lender or a different one. This can be done for several reasons, such as securing a better interest rate, consolidating debt, or changing the mortgage type or term.
A remortgage, also known as refinancing, involves switching your existing mortgage to a new deal, either with your current lender or a different one. This can be done for several reasons, such as securing a better interest rate, consolidating debt, or changing the mortgage type or term.
How long does the process take?
Generally the process takes between 4 and 6 weeks but this varies from person to person. For helpful advice on how you can potentially speed up the process by organising your information beforehand, visit our helpful advice page.
Additionally if you wish to establish how much you might be able to borrow please visit our mortgage calculators page.
Additionally if you wish to establish how much you might be able to borrow please visit our mortgage calculators page.
Do you feel we may be able to help you?
Why remortgage?
Better Rate
Staying with your existing lender is unlikely to put you on the best rate. Remortgaging to a different lender can help by allowing you to switch to a lower rate.
Fix In
If you are currently on a tracker or the lenders standard variable rate (SVR) and want to security of fixed payment, remortgaging can allow for this by switching deals.
Debt Consolidation
In many cases remortgaging offers lower interest rate borrowing* which in turn allows you to pay off high interest debts such as store cards or credit cards at a lower rate.
Release Equity
In many cases remortgaging offers lower interest rate borrowing which in turn allows you to pay off high interest debts such as store cards or credit cards at a lower rate*.
Change Term
Remortgaging will often allow you to alter the term of the new loan, this means if you wish to borrow over a longer term or alternatively decreasing the term, you may do so.
Job Change
Changes in your financial circumstances such as a pay rise will often allow you more spare cash, it can be beneficial to remortgage to a different rate to pay down the capital quicker.
Get in touch
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