Why Remortgage?

The main reasons why people remortgage are these: Simply to save money, raise money or get a better deal.

I want a better deal.

Mortgage rates change all the time, so no doubt they will have changed since you took out your current deal. There could be a cheaper option for you. The best thing to do is compare your Annual Percentage Rate (APR) with what’s available from other lenders.

What you need to think about first, however, is that interest rates change all the time, so what is today’s best remortgage deals won’t stay that way for long. You have to move fast to secure the deal.. or wait to get a better option. You also need to think about fees. It will cost you money to do this, so is it worth it. Find out now before you go any further.

I need some more cash.

It’s often an idea to use a remortgage to get an instant cash injection. You borrow against your home a long as you can make the repayments. There are always borrowing risks, but it’s worth it if you’ve weighed up the pros and cons. It could be that you are borrowing the money to increase the value of the house through home improvements. You might be paying off some debt or you may just want to release captial.

I want a better mortgage for me.

It’s often the case that your current mortgage could be better. It will have different features for a better fit. You might be starting a family or earning more meaning you can pay off more in your monthly payments.

If you are thinking about remortgaging, but aren’t sure if it’s the thing for you, then please get in touch with Havinefa. Our friendly team will be happy to help.