Looking to Remortgage?

A remortgage is the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security. Often the purpose of switching is to secure a more favorable interest rate from a different lender.

The process of remortgaging does not normally involve moving home or taking out a second mortgage on the property; it is in effect the transfer of a mortgage from one lender to another. Homeowners may choose to remortgage for various reasons, including to reduce the size of repayments, to pay off a mortgage earlier, to raise extra capital, or to consolidate other debts.

Homeowners often mis-use the expression remortgage when they are simply switching from one product to another with the same lender; this is not a remortgage which involves the removal of one legal charge over a property and its substitution with another in favour of a new lender.

Are you looking to Remortgage your home?

If you need to remortgage your home, for any reason, you should consider speaking to an independent mortgage adviser who can search the entire UK remortgage market and find the right product to suit your personal situation.

Why are remortgages so popular?

People rarely keep the same mortgage product for the entire term of the loan – which can be up to 40 years. Instead, people utilise remortgages every few years to take advantage of special offers from remortgage lenders.

Existing home owners can often save money by remortgaging to products with lower interest rates and more competitive fees.

What else are Remortgages used for?

Remortgages can also be used to release equity in your home. If you choose to remortgage to a higher balance than your existing mortgage, you can use the extra funds for almost any reason, such as debt consolidation and home improvements.

I have bad credit. Can I still Remortgage my home?

There are many UK lenders who specialise in bad credit remortgages. No matter what problems you are facing, simply complete the online form provided to contact an adviser who specialises in adverse credit remortgages today.