A remortgage is the process of switching your existing mortgage to a new deal, either with your current lender or a different one. This can be done to secure a better interest rate, reduce monthly payments, or release equity from your home. Many homeowners choose to remortgage when their current mortgage deal is about to end, as it can prevent them from being moved to a higher standard variable rate.
Remortgaging can also be a way to consolidate other debts by using your home as security, potentially lowering your overall monthly payments. However, it’s important to consider any fees or penalties associated with leaving your current mortgage early, as well as the costs involved in setting up a new one.
At Legacy Advice Mortgages & Protection, we guide you through the remortgaging process, helping you find the most suitable options to meet your financial goals. Our expert advice ensures you understand all the benefits and potential drawbacks, making the transition smooth and beneficial.
