If you are one of thousands of people in the UK whose home loan deal comes up for remortgage this year, you have come to the right place. With the current uncertainty in the financial services sector, you would be forgiven for wondering if there are any competitive deals available on residential remortgages. However, with the Bank of England base rate at an all-time low, many mortgage lenders have passed these cuts onto customers and so you may well be able to find a deal that will save money on your monthly remortgage payments.
There are many reasons why it is a good idea to remortgage your property. First and foremost, you should always at least look around at what the other providers are offering, once your mortgage tie-in period has come to an end. This is because a lender’s standard variable rate is rarely competitive, and by remortgaging, you would be eligible for another lender’s introductory rate, thereby saving money on your repayments. Other common reasons include increasing your mortgage to consolidate your debts, or to raise capital for a large expense such as a family wedding, a new car or a dream holiday. Whatever your reasons, SimplyFinance will help you to find the best remortgage deal for your personal circumstances.