Remortgaging Guide
What is Remortgaging?
Remortgaging is when you switch your existing mortgage to another mortgage provider or different type of mortgage repayment plan , this can be with your current lender or another mortgage provider.
Some people may consider remortgaging to get a lower interest rate or to release some of the property’s equity or maybe to increase their borrowing needs to consolidate debt or pay for home improvements or other big purchases.
Why Remortgage?
Whatever mortgage you have whether it’s a tracker mortgage or a fixed rate mortgage, you can shop around for a better mortgage deal to make sure you’re not paying too much interest, so perhaps leaving you with a little extra money in your pocket each month to spend.
How can comparethemarket.com help?
We here at comparethemarket.com are committed to helping you save money, you can compare mortgages online with us. It's simple! All you need to do is select "get a quote", enter details about your property like the amount you wish to borrow and your property’s value and then choose “remortgage” or “remortgage capital raise” from the drop down menu. Capital raise is when you wish to borrow additional funds against the value of your property so you have some cash available, whether you need to consolidate debt or want to make a big purchase.
You can then decide what type of mortgage you would like to apply for and scheme you would prefer. You will then be presented with competitive deals available on the market today for you to compare.
If you would prefer to talk to someone about your borrowing needs, the comparethemarket.com page links you to London and Country mortgages who can help you find a competitive rate on your mortgage that could save you money. The number to call is 0800 953 0603 to speak to an advisor.
Remember!
When remortgaging you may be subject to fees and charges like solicitor’s fees, redemption penalties and administration charges. It is important to weigh up all these costs first before applying to remortgage.
Compare today with comparethemarket.com to see how much you could save by switching mortgages today!