Explore Remortgage
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.
Reasons to Remortgage
- Find a lower interest rate: When your introductory mortgage rate comes to an end, you may wish to shop around to see if another lender can offer you a better interest rate. This is known as remortgaging, and can be a great way to save you significant amounts on your monthly repayments. Also, by decreasing the interest rate on your mortgage, you are decreasing the amount that you'll have to pay back overall, so you benefit in the short-term and the long-term.
- Free up capital: When you remortgage, you are able to borrow more than the amount needed to repay your outstanding mortgage balance, thereby freeing up extra cash for anything you like, from refurbishing your home to buying a car.
- Release equity in your home: Remortgaging is a way of releasing equity in your property. You can get a lump sum of cash or a regular monthly income by borrowing against the value of your house.
More Remortgage Help
Remortgage Loan To Value Calculator
Why this is the Best Time in Years to Remortgage
The Remortgage Process
Fixed Rate Mortgages now seen as a safer option than a Tracker
Internet or High Street - Where would you go to find your next home?
Sarah Beeny, Tepilo.com
Sarah Beeny's Top 10 Tips for Buying to Let in 2010
Sarah Beeny, tepilo.com
How much is your Mortgage really costing you?
First Time Buyers, Your Time Has Come!