Get Best Remortgage Rates
The best remortgage rates you can get will depend on your individual circumstances, such as:
Your credit status
The term over which you wish to borrow
How much you wish to borrow
How much equity/deposit you have
Not all providers offer loans to people who fall into certain categories, and each one offers different deals and implements various charges, such as early repayment charges when you pay off your mortgage before the agreed date, and arrangement fees which the lender charges for setting up your mortgage, so look into these before signing up and compare the complete cost.
Find the best remortgage rates for you with our free remortgage service - check out the rates and fill in the enquiry form to compare the market.
If you want to remortgage your property to get the best rates, you should compare mortgage deals from as many different lenders as possible before finding the one that suits you. There are certain things you should consider before speaking to a mortgage advisor about which remortgage deal is best for you. Things such as:
- The estimated value of your property
- The percentage of the value of the property you want to borrow (Loan to Value Ratio – LTV)
- The annual income of you and any other persons mentioned on the mortgage
- Get a ‘redemption statement’ from your current lender to demonstrate exactly how much you owe
- For more information on some of the best remortgage rates available, please use the mortgage comparisons table below:
Remortgage to Save
Most mortgage lenders will require a standard closing down fee if you wish to switch to a different lender before you current deal ends. As well as this, it is also worth checking whether potential mortgage deals have arrangement fees.
If you are coming to the end of your fixed rate term and your interest rate is due to increase considerably, remortgaging may be a good way of saving money. After the term ends, the interest rate will change to the lenders’ standard variable rate, which is very likely to be much higher than the rate you were paying in your previous agreement.
Once you have found a lender you will need to decide which type of mortgage deal is best for you:
- Fixed rate mortgage – most fixed rate deals have terms between 2 – 5 years and you will be able to live with the reassurance that for a set period you will pay a standard rate of interest until the term ends.
- Tracker mortgage – the interest rate changes with the Bank of England base rate and will increase and decrease accordingly.
- Offset mortgage – your savings account, or current account can be linked to your mortgage loan to offset the cost of your interest repayments