Remortgaging deals comparison
If you are looking at remortgaging, you should compare a range of deals first to make sure you are getting the best one for your circumstances, keeping in mind things like:
- The types of remortgage deals available i.e. fixed rate, variable
- The mortgage rates being offered
- Repayment terms
- The flexibility i.e. can you overpay, make early repayments, or take a mortgage break without charge
- Arrangement fees
Remortgaging is where you pay off your existing mortgage with the proceeds of a new mortgage, with the same property as security.
You might be thinking about remortgaging your property in order to find a better deal elsewhere, or you may be looking to raise some capital by taking out a larger mortgage than your current one.
This is the reason why many mortgage advisers say that the best time to begin contemplating remortgaging your property is when you begin to near the end of your current deal or are paying your lenders standard variable rate.
Several banks and building societies could offer you remortgaging deals, so it would probably be worth taking the time to compare what each lender could potentially offer you.
The comparison table below contains details of a number of different remortgaging deals that you might wish to look into.
If you are considering the option of remortgaging your property, in order to save or raise money for some reason, you may be unaware of the process, so we will quickly outline it below.
Firstly, you will need to decide whether or not you want to borrow more money when you remortgage. If you do you will need to check that there is enough equity in your property. On the other hand, if you want to save money you should use our product comparison table to find a better remortgage deal.
Secondly, you will need to contact your current lender and ask for a redemption statement. Make sure you do your own research using consumer tools such as the remortgage calculator on the right hand side of this page.
Our easy to use product comparison tables should make the job of finding the right deal for remortgaging a little easier.