Find the Best Remortgage Rates
Remortgage rates are essentially the amount of interest that will be charged to customers by the lender for the loan they receive. In order to find the best deal on these rates, customers are advised to shop around for mortgage comparisons on the various different offers that are available. One of the main reasons why many people choose to remortgage their property is because their current interest rate deal may be coming to a close. In other cases, customers may simply wish to switch providers in order to get a better deal. While there are a large number of providers that may advertise improved remortgage rates, it is important to carefully consider the pros and cons of a particular deal before proceeding.
If for example the customer wishes to switch provider, it is worth remembering that they may be subject to several fees and costs before the switch can be completed.
The following is a brief explanation of some of the more common fees that customers may be subject to:
- When customers wish to end their current deal prematurely, they may often be subject to early exit fees
- New providers also often require that customers pay for valuation fees for their property
- In other cases, customers may also be subject to some added legal fees and expenses when switching provider
For customers who wish to get a better offer compared on their current interest rate deal, here are some examples of some of the more common interest policies that will affect their remortgage rates:
Fixed Rate Remortgages
A policy that will provide customers with a secure, fixed rate of interest on their remortgage for a set period of time.
Tracker RemortgagesUsing a tracker policy, interest rates on a mortgage will be maintained according to the Bank of England’s base interest rate.
‘Fee Free’ RemortgagesThis type of policy will allow customers to switch without paying for many of the administrative fees that are mentioned above.
If you are looking for improved remortgage rates, consult our mortgage comparisons table.
- remortgage rates and types
- cost for overall comparison
- loan to Value limit
- maximum repayment term
- fees i.e. early repayment penalties,
For more information, fill in our enquiry form – just enter details about how much you want to borrow and what type of mortgage you want i.e. remortgage, buy to let, and you will receive no obligation quotes, help and advice from a professional regulated mortgage adviser.