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Remortgage

When you remortgage, you are switching your mortgage to another deal, and frequently, another lender. In the UK a third of all home loans are actually remortgages, but most people simply switch because it will work out cheaper.

Why remortgage?

  • Your current deal is up and you want to secure better rates
  • You want to switch to another type of mortgage
  • You want to borrow more for home improvements
  • Your property value has significantly increased and you could secure a better deal
  • You want to consolidate debts


It is worth noting that a remortgage is not the best option in all cases. Even if the lender you are considering switching to is offering a lower APRC, you must take into consideration:

  • The new lender may charge you for valuation and solicitors fees
  • Remember to look at the overall repayment period and potential penalties

 You may be able to switch your mortgage deal with your current lender, avoiding any unnecessary costs.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE. 
You may have to pay an early repayment charge to your existing lender if you remortgage.

Please read your fee agreement to confirm fees payable to Thomas & Co for advice and work undertaken.