Most people consider remortgaging when their current fixed or variable rate with a lender has ended, and the want to explore what other deals are available on the market. And this is a good thing to do. Moving to a new lender to reduce your interest rate can save you tens of thousands of pounds over the life of a mortgage. Using a service such as ours as well, we can make sure to find the best rates with all sorts of added extras, such as free valuations and free conveyancing.
But why else might someone remortgage? Well, for lots of reasons. Our top 5 reasons people remortgage are:
- To find a better deal and reduce monthly payments
- To raise money (known as releasing equity) to pay off other debts
- To raise money to fund an extension
- To raise money to purchase another property, such as a “buy to let” or holiday home
- To raise money to pay school fees, invest in business, and gift family money
So, you see, there are lots of reasons people want to remortgage. In some cases, we can even help with tax bills for self employed people.
Click or call today to talk to a friendly adviser about how a remortgage might be the ideal solution for you.
