Remortgaging means taking out a new mortgage on a property you already own. This might be because you want to replace your existing mortgage to get a better rate or perhaps you are looking to borrow money against your property.

According to research, around a third of all home loans made in the UK are remortgages and they are particularly popular when the country sees very low interest rates. But where to start on this journey and how to find the most suitable deal?

At Smiths Financial, we can firstly advise on whether remortgaging is the right solution for you and if it is, tap into a wide panel of lenders to find you the right deal with the most suitable product and terms.

There are a huge amount of mortgage products and options out there and you will need to know what happens to your existing mortgage when you want to switch lenders.

Will you be able to borrow the same amount or more than you did for current property? We will go through your options including how much you can afford and the potential loan amount, as your circumstances may have changed since you originally had taken out your mortgage.

If you are considering remortgaging, please get in touch for more help and guidance.
*Source of information – Money Saving Expert article 11th November 2021.

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