Remortgaging means switching your existing mortgage to a new deal — either with your current lender or a new one. It's one of the most effective ways to save money.
Your current deal may have ended and you could be sitting on your lender's standard variable rate (SVR), which is often much higher. Remortgaging can significantly reduce your monthly payments.
If your home has increased in value, you may be able to release some of that equity to fund home improvements, pay off debts, or other large expenses.
You may want to move from a variable rate to a fixed rate for payment certainty, or vice versa depending on your circumstances.
Remortgaging gives you the opportunity to shorten or extend your mortgage term to better suit your current financial situation.
The best time to start looking at remortgage options is 3–6 months before your current deal expires. This gives you time to compare deals, complete an application, and avoid falling onto the SVR.
Even if you're mid-deal, it's worth reviewing your options — sometimes the savings outweigh any early repayment charge.
Check when your current deal ends and if there are any early repayment charges (ERCs).
A whole-of-market broker like Andreas Mortgages will compare hundreds of deals to find the right one for you.
Once you choose a deal, we submit your application. The new lender will carry out a valuation of your property.
Your new lender pays off your old mortgage and your new deal begins — often with lower monthly repayments.
Book a free, no-obligation consultation and I'll find the best remortgage deal for you.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.
THERE MAY BE A FEE FOR MORTGAGE ADVICE. THE ACTUAL AMOUNT YOU PAY WILL DEPEND ON YOUR CIRCUMSTANCES. Andreas Mortgages is an Appointed Representative of Marklay Mortgages Ltd, authorised and regulated by the FCA (Ref: 1051012).