Why Review Your Remortgage?

It's crucial to review your remortgage when your current deal nears the end of its initial term. Don't assume your current lender will offer the best product. At Need-a-Mortgage.co.uk, we provide professional advice to help you find the most suitable deal.

What is Remortgaging?

Remortgaging involves changing your current mortgage deal to save money, release equity, or consolidate debts. You can switch to a new lender or stay with the same one.

Key Reasons to Remortgage

When your fixed rate term ends, you move to the lender's standard variable rate (SVR), which is usually higher. If your home's value rises, your loan-to-value (LTV) ratio decreases, giving you access to better mortgage rates. If your current mortgage doesn’t allow overpayments, remortgaging can offer this flexibility. Remortgaging can also provide additional funds for home improvements or debt consolidation, but consider the long-term costs and potential early repayment penalties.

When Remortgaging May Not Be Suitable

Early repayment charges can negate the benefits of remortgaging. If your financial situation has worsened, you may not qualify for a new mortgage. High LTV or negative equity reduces your chances of a successful remortgage application.

Benefits of Using Need-a-Mortgage.co.uk

We access a wide range of lenders to find competitive deals and offer personalised advice on whether porting or remortgaging suits your needs. Our tailored approach considers all factors to provide the best advice, and we work around your schedule, offering consultations via phone or Zoom.

How We Can Help

At Need-a-Mortgage.co.uk, we simplify the remortgaging process, cutting through jargon to provide clear guidance. We quickly review your current mortgage and organise your remortgage, potentially saving you money and time.