REMORTGAGING

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Your current mortgage deal is due to expire and there are so many options out there. What suited you last time may not suit your circumstances today. Home improvements, debt consolidation or simply looking for a better rate, with access to the Whole of the Market, we’ll find the best product for you.

Top Tips when Remortgaging

  1. Be prepared – Find out when your current deal is due to end. Start looking for a new mortgage three to six months before your mortgages product ends.

  2. Shop around – Don’t feel that you have to stick with your current lender, you may be able to find a much more competitive rate than what your current lender is offering.

  3. Look at the overall cost – If you simply want a better deal, compare what your new repayments would be, plus your existing monthly costs, to decide if you will be better off. If you’re looking to borrow more, again make sure you look at the overall costs of the loan. Include the cost of any arrangement fees on the new mortgage deal as well as exit penalties from your current mortgage.

  4. Consider the other features – some mortgage products come with features such as over-payments, the option to take payments holidays, etc. Consider how many features of the mortgage will meet your needs.

You should use remortgaging as an opportunity to review your insurance needs.

 
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