At certain times and in certain circumstances it actually makes more sense for someone to re-mortgage than to stay with their current lender and ride the waves of ever changing interest rates.
This article looks at five specific reasons to re-mortgage but first things first I must just point out that the information contained in this article does not constitute personal advice and because your circumstances and financial position are as unique as you are, you should seek professional, regulated and specific advice before re-mortgaging to ensure that this is the best decision for you right now
1) If your mortgage introductory or fixed rate period is about to expire you can save substantial money over the period of your loan if you re-mortgage. You avoid having to start paying your mortgage lenders variable rate of interest which is highly likely to begin at least one percentage point above that which you have already been paying and which could increase your monthly outgoings significantly. Over the lifetime of your loan just a one percent increase will result in you paying back thousands in extra interest payments money you could save towards retirement, put...
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