There are a few different reasons why you might decide to remortgage. It’s a great way to release some capital from your home and put some cash towards let’s say a new car, a wedding, a holiday or perhaps even to consolidate your debts. You can often also find yourself a better mortgage deal at the same time, so it’s a win-win.
Mortgages can seem difficult to navigate, and they can sometimes feel like you’re locked into the same product for years and years – but this isn’t the case. Just as you’d review your car insurance each year to ensure you’ve got the best deal, you should ensure you have the best mortgage product to suit you.
Switching to a more suitable deal on your mortgage is called remortgaging, and can be done at any time. It’s undeniably one of the biggest loans you’re likely to take out, so it’s important to make it work best for you.