Remortgaging is a process of switching your existing mortgage to a new deal, either with your existing lender or a new one, to take advantage of better rates, lower payments or release equity from your property. If you are considering remortgage in the UK, here are some key points to consider:
- Review your existing mortgage
- Shop around for a new mortgage deal
- Consider your financial circumstances
- Seek professional advice
- Prepare necessary paperwork
- Timing is important
- Understand the costs