Re-mortgaging is not just about taking money out of your home for a specific reason. It more often about aiming to saving you money on your mortgage when your current deal approaches it’s end date.
When approaching the end of your current deal it is important to review your mortgage to switch to a new deal which can save you thousands of pounds.
We can search the market for you when your review is due with an aim to lower your current interest rate and in turn mortgage payments, or reduce the years which can save overall interest on your mortgage.
You may also be able to release money from your home when remortgaging for various reasons a few common ones are for home improvements, debt consolidation, or deposit for another property.
You may have to pay an early repayment charge to your existing lender if you re-mortgage. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.