01/09/2022
Why should I remortgage?
Here are four reasons to remortgage.
1. Your current mortgage deal ends soon
This means you could move to the lender’s standard variable rate. As this is often higher, it’s a good time to check for better mortgage deals.
2. You’re paying a high interest rate
If you’re already on a standard variable rate, switching to a fixed or tracker rate could lower your monthly payments or help you pay off your mortgage sooner.
3. You want to pay off your mortgage early
Switching to a mortgage that lets you make overpayments could help you be free of your mortgage debt earlier than your original term.
4. Your property has increased in value
In this situation, you could apply to borrow more for things like home improvements. Your lower loan to value ratio could mean you’re eligible for a wider range of interest rates.
