When you should remortgage
The main reason people will seek to remortgage a property is so they have more cash in their pocket. That’s it, in a nutshell. But there are some more specific cases when you should consider remortgaging:
- If you’re seeking a better rate.
- If the value of your property has increased and therefore you’re eligible for lower rates.
- If you’ve had an increase in finances and want to pay more, but your current lender won’t allow you to.
- If you want to borrow more or release equity from your property. You will need to clarify to the lender what this money will be used for, such as home improvements, or to pay off other debts, or to buy another property.
- If you need to remove someone from the current mortgage deeds.