Tuesday, 9 August 2016

Why Remortgage?

Remortgaging means moving your mortgage from one lender to another to get yourself a better deal. And you don't even have to move house to do it.

There are many reasons why remortgaging could make sense for you:
•            You just want a better deal with a lower interest rate.
•            You need a more flexible deal with additional payment options.
•            You've come to the end of your initial Fixed Term deal.
•            You want to consolidate or rearrange all your finances.
•            You want to save money on your monthly repayments.
•            You want to borrow more to use the money for a project or home improvements.
•            You want to use some of the equity in your home rather than take out an additional loan.
•            Your current mortgage no longer suits your needs.
•            You have inherited some money and wish to reduce the amount you have borrowed.
•            Your credit rating has improved so you may get a better deal.
Think carefully before securing other debts against your home.

You may have to pay an early repayment charge to your existing lender if you remortgage.

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