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Overview
A remortgage is essentially no different to a mortgage,
with one crucial difference - you are not buying a house.
All you are essentially doing is taking out a new mortgage
to repay the old one, while shifting your debt from
one lender to another.
This brief guide should run you through the main points
of remortgaging, as outlined below. However, since many
of the decisions involved in remortgaging your property
are essentially the same as when you take out a normal
mortgage, it is probably worth reading the extensive
mortgages guide on our sister site: www.mortgages-ontheweb.co.uk
Why remortgage?
How much can I save?
How much does it cost?
How long will it take?
Choosing a remortgage
Before you go ahead and jump ship from your current
lender, consider the fact that remortgaging to a new
lender is not best for everyone. Most lenders will automatically
transfer you to the Standard Variable Rate at the end
of your fixed or discounted deal. However, it may be
possible to switch to another scheme with the same lender,
thereby negating the need for additional conveyancing
and a valuation. Some lenders even permit you to do
this on a fairly regular basis.
Section Guide:
- This section will tell you everything
you need to know when it comes to thinking about the
reasons for considering remortgaging.
- Its always nice to make
some savings, so find out how much you can save now!
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As with most things, there will be certain costs that
you will incur, and this section will help you to
understand and contemplate them.
- Remortgaging is not an
instant process, so this guide will give you a rough
idea of how long it will take.
- There are a few kinds of remortgage's,
so check out our explanation of each here.
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Remortgages
Guide
