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Remortgage
When remortgaging,
you should: -
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Initially contact your current
lender to see what they will offer you.
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Obtain quotes from other lenders
to see how they compare.
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Try to avoid increasing the term
of the mortgage and if affordable reduce it. However, in the main
most people continue with the same term as their existing mortgage.
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It is important to do your sums,
as a low rate with a large fee may actually be cost-effective. Our
remortgage calculator will
help with this.
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A remortgage can take 4-6 weeks
to complete, so do the ground work early.
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If you are consolidating debt,
be aware that you may be securing debt against your property when
previously it was unsecured. You will probably be also extending the
term of this debt and as a result pay more back in interest.

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