Best remortgage deals, best interest rates arranged by mortgage brokers who know where to find the best remortgage deals and competitive interest rates
We work with Remortgage Brokers who are specialists in helping buyers get the information they need to find the best remortgage deals at the most competitive interest rates. Even
if you have been turned down by a high street mortgage lender one of these remortgage advisers may be able to help.
When did arrange your current mortgage?
If the response is "Years ago", then you could be wasting thousands of pounds on your mortgage payments and it would
be in your best interests to find out if you could get a better deal on your mortgage by remortgaging your property.
To talk to a mortgage broker about how to find the best mortgage deal for you, please
You can use our free mortgage calculators to calculate your borrowing limits for mortgages and remortgages, by
Click here for personal help, advice or quotes from a professional mortgage consultant,
or read on to learn more about what's involved in arranging a remortgage....
Remortgaging means changing to a new mortgage lender that provides a better interest rate or greater flexibility than your current mortgage lender. Normally, people remortgage with a different mortgage lender from their existing mortgage company. You have to go through some of the same procedures as you would if you were applying for a new mortgage, but it should be far less stressful. And if a remortgage means you are saving money every month, then surely it's worth while!
If your property has increased in value since you took out your last mortgage, then remortgaging can provide an opportunity to release some of the equity in your property for things like debt consolidation or home improvements. For example, if your house is now worth £200,000 compared to £150,000 when you bought it, and your current mortgage is for £100,000 you should easily be able to borrow an additional £50,000 to spend on home improvements, clearing credit card debts, a holiday, a new car, or whatever else you want.
Alternatively, if you have other debts, like personal loans, hire purchase agreements or mortgage arrears, you might want to use some of the money tied up in your house to clear these expensive debts. This is called a debt consolidation remortgage, and can be a useful way of reducing your monthly outgoings.
When looking for a remortgage, there are a number of different options to choose from, just as there were when you arranged your current mortgage.
If you like the idea of knowing what your remortgage repayments will be each month for a fixed period of time, then a fixed rate remortgage could be the solution for you.
If you want to know the maximum repayments you will pay each month, but still want to be able to take advantage of any decrease in mortgage interest rates, then you might want to choose a capped rate remortgage.
Or if you want a reduced repayment method in the short-term, you could consider a discounted rate remortgage.
Tracker remortgages, have their interest rates linked directly to the Bank of England Base Rate, so you are sure to get the immediate benefit of any reductions in interest rates. On the other hand, though, if the Bank of England raises rates, the increase will hit you straightaway. This is why you need an expert mortgage adviser to explain all your options.
Remortgaging your home to gain more financial flexibility is becoming increasingly popular, given the increase in the number of flexible type remortgage products that have become available in recent years. A flexible remortgage gives you the facility to make regular or lump-sum overpayments to your mortgage, temporarily reduce your mortgage payments, take a repayment holiday, or change your mortgage repayment term.
With so many choices and options available to you, it can be hard to decide which remortgage choice is best for you. Usually the most important consideration is the interest rate level you are paying. Anyone who is currently paying their mortgage lender's standard variable mortgage rate, is likely to save money with a special offer remortgage such as a fixed, capped or discounted remortgage.
There are also some costs associated with arranging a remortgage. Although you are not moving house, you will still have to pay for legal costs, although a number of mortgage companies offer to pay them as part of your new remortgage deal. The new mortgage company will want to carry out a mortgage valuation on your property to confirm its value. Normally you will have to pay for this although, again, some banks and building societies will cover the costs for you as part of their remortgage package. There is no stamp duty payable for a straight forward remortgage, as you are not purchasing a new property.
The first step towards seeing how much you could save by remortgaging is to fill in our online
remortgage quote form.
We will then pass your details to a specialist remortgage consultant who will search through a range of different remortgage options to find suited to you.