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Residential Remortgages


When you remortgage, you are switching your mortgage to another deal, and frequently, another lender.

Remortgages can be used for various reasons, most people simply remortgage because it will work out cheaper for them. For example, the initial interest rate may have finished with your current lender and other lenders may have lower interest rates.

Other individuals want to consolidate their debts, if they take out their remortgage for more money owed on the existing mortgage.

It is worth noting that a remortgage is not the best option in all cases, even if the lender you are considering switching to is offering a lower interest rate, you must consider the following fact:

If you switch mortgage you could be extending the term of your mortgage, therefore, although you will be paying less monthly, the total could be more.

We always recommend that you talk to your existing lender first because you may be able to switch your current deal to anther one without any unnecessary costs.

Your home may be repossessed if you do not keep up repayments on your mortgage.