What is remortgaging?
Remortgaging simply means replacing your existing mortgage.
When should I remortgage?
When your current mortgage offer comes to end, it is likely your mortgage will revert to your lender's standard variable rate (SVR), causing your mortgage payments to jump up significantly. To avoid this, many homeowners choose to remortgage to a new fixed rate deal before their current offer ends.
As well as getting a better rate, remortgaging can also give you the option to borrow more against your home. This could give you the opportunity to make home improvements, such as upgrade your kitchen or convert your loft.
Popular reasons to remortgage include:
- Your current mortgage deal is coming to an end
- You want to get a better rate than you're currently paying
- Your home's value has shot up
- You want to switch your type of mortgage
- You want to borrow more
Remortgaging with Freedom Mortgages
If you remortgage with us, we'll search hundreds of remortgage deals from over 90 lenders to try to find you better rates and reduce your monthly repayments. Our team of friendly advisers are here to guide you through the whole process and will be happy to answer any questions you may have.
If you do remortgage, just be aware you may have to pay an early repayment charge to your existing lender.
Ready to remortgage? Call one of our friendly mortgage experts on 0330 335 9903, or simply ask us for a quote.