Our advisors will look at a number of lenders from across the market to compare products to ensure you have the best remortgage product that suits all of your needs. We will check to see how much you can remortgage for, and we can also assist with the process from enquiry to completion, by dealing with the solicitors, surveyors and any other 3rd party to ensure the transaction is as smooth as possible. Mortgages are a big part of peoples expenditure and so getting a better deal of your mortgage can save you a lot of money, but with everything, there are pros and cons while doing this and you will need to weigh up both options to see if it is worth remortgaging or not.
Like a normal business, mortgage lenders need to be on the lookout for new customers. To attract them, lenders may offer very attractive rates for a limited period. These are often called introductory rates. In the UK these generally last about two to five years. After the introductory period has ended, the mortgage will continue on the lender’s standard variable rate (SVR). At this point, borrowers have essentially three options: stay on the SVR, remortgage with their existing lender or remortgage with a new lender.
If you are thinking about remortgaging the basic, golden rule is to add up all the costs and look at the savings on offer. Then see which is the higher number. If you would like some help with this process you can get professional advice from a qualified financial advisor who will be happy to help you get your financial house in good order.