When you remortgage you are essentially changing your mortgage without moving your home. The idea is that you switch your current mortgage to a new better deal thus saving money.

Alternatively a remortgage can be used to raise additional finances by releasing equity in your property. When you re mortgage you are ending your old mortgage scheme and switching to a new one. This Normally involves switching your lender although you can sometimes change deals with your current provider.

If you do remortgage with your current lender it normally involves changing your existing deal. You might for example change from a standard variable rate, to a fixed rate deal if you thought interest rates are on the increase. Many people end up with a standard variable rate mortgage which is not usually the cheapest deal available.

Most mortgage lenders have attractive interest rate offers that they lend to new lenders but many of their existing customers end up paying more than they need to with a Standard Variable Rate deal.

The plus side of this is that if you are paying a standard variable rate mortgage you can almost always remortgage without paying a redemption charge. We aim to offer UK residents comprehensive options when they are considering a mortgage / remortgage. Our most popular categories are :