The definition of a cheap remortgage is different for the lender and the buyer. Lenders see a cheap remortgage as one where they lose money. Home buyers see a cheap remortgage as one where they save money.
It all comes down to where interests lie. It is obvious the lenders interests lies with making money off the loan while the home owners interests lie with saving as much as possible on the loan.
A cheap remortgage is possible. Actually the whole concept of a remortgage is to get a better and cheaper deal then with the original mortgage. The goal is to secure a lower interest rate and get reduced or waived fees. A remortgage is primarily just a way for the home owner to get a better deal.
Lenders do not necessarily want to hand out cheap remortgage. The reason is that the lender is making their money from the interest accruing on the loan. They want to keep the rates higher because they earn more money that way.
However, they understand that home owners are looking for lower rates. In the end their best interest in keeping the customer happy because that will help to ensure the customer stays with them as their lending source.
To get a cheap...
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