When looking to remortgage your aim is to switch to a deal that is more beneficial to you and saves you money/increases flexibility etc, whether this be sticking with your present lender or changing to another.
What Are The Benefits Of Remortgaging?
Remortgaging is a chance to switch from an inadequate mortgage and take full advantage of current products available such as fixed rate, tracker or discount mortgages which can offer you more competitive rates. Choosing the right deal for you is just as important when remortgaging as it was the very first time. Consideration should be given on your prediction of future interest rates, your own risk assessment, your income and the balance of the loan outstanding. You will also need to weigh up your monetary needs and present circumstance.
Adverse Credit Remortgages also enable you to cut loose from a dissatisfactory lender as there is nothing to say you should stay with the same one.
Doing either of these things when remortgaging may considerably reduce your monthly out goings. This is just one benefit of deciding to remortgage.
Say for example you have a loan of 100,000 and are paying a rate of...