Remortgaging
Remortgaging opens up new opportunities, with mortgage renewals typically occurring every 2 to 5 years throughout your mortgage term.
Remortgaging means replacing your current mortgage with a new one, often to secure a better rate or more favorable terms. The most common reason for remortgaging is when your existing deal is coming to an end, making it the perfect time to explore new options. Switching lenders can often result in significant savings, as many offer more competitive rates than your current provider. If you’ve been with the same lender for years, it’s worth speaking to our remortgage specialists to ensure you're not paying more than you need to.
FAQ
What are other reasons people may look to remortgage?
Aside from securing a better deal, homeowners remortgage for various reasons, including raising capital for home improvements, consolidating debts, purchasing additional property, or securing a more flexible repayment plan.
Why should I consider remortgaging?
Remortgaging can help you lower your monthly payments, release equity, switch to a more favorable interest rate, or adjust your mortgage term to better suit your financial goals. It’s a great opportunity to ensure your mortgage remains cost-effective.
Are there charges with my existing lender if I choose to remortgage?
Yes, some lenders may charge early repayment fees, exit fees, or administrative costs for switching mortgages before your current deal ends. However, our team can help assess whether the savings from a new deal outweigh these costs.
Contact our
experts today
- 07894 213439
- 07894 213439
- mehidi@magpienestfinance.com
