There are many reasons for remortgaging, but the main one is the scope to save money. With so many new products and offers available in the market nowadays, an increasing number of homeowners are looking at their options and discovering that remortgaging could generate substantial savings.
Remortgaging can mean switching your current mortgage to a new deal with the same lender, or obtaining a mortgage with a new lender. It can be a great way to avoid high variable interest rates and save money each month on repayments.
Remortgaging can also be undertaken to release equity in a home. This is particularly useful for clients looking to consolidate their debts or to obtain additional borrowing to extend their existing property. Often adding extra rooms to cope with an expanding family can be more cost effective – and a lot less hassle – than moving to a new property.
If you are considering remortgaging then why not contact us to discuss how much you could save each month on your mortgage payment?
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.