Remortgaging Advice – What To Look For

If your current fixed-rate mortgage deal ends within the next 6 months, then you should be starting to look for a new deal. Especially if you think interest rates might go up between now and the end of your product. Here, we provide some simple remortgaging advice.

At one time, remortgage offers only lasted for 3 months. However, it’s not unusual for lenders to hold offers open for 6 months so you can lock in a deal further in advance. By locking in a deal in advance, it keeps the time you automatically switch to the standard variable rate to a minimum. If you are really organised, it is possible you might spend less than 24 hours on the standard variable rate when the time comes.

When you look to move, it’s not uncommon for your current lender to offer you a deal to remain with them. Annoyingly though, brand new customers tend to get the best deals, not loyal customers.

This is because lenders know moving away to a different provider can be a lot of hassle. Therefore, they try and capitalise on this by offering an average product but with a very slick service. Don’t be caught out!

When it comes to comparing deals, then a good Broker will recommend you stay where you are if the savings are minimal or non-existent. Therefore, it’s always worth looking at what’s available. And, if you don’t shop around, you will never know. Lenders LOVE the people who don’t shop around because they are most probably paying back more each month than they need to be.

In the future, technology will most likely make the process of switching lenders much quicker. In the meantime, in return for spending a little bit of time on the phone with a Mortgage Advisor and sending over a few documents, you really can save yourself a lot of money.

If you’re seeking further remortgaging advice, make sure to get in touch.

Our Mortgage Services

We are experts in our field and are pleased to help with all Mortgage situations including:

Money Man mascot Latest Articles...

News & Opinions

Need More Help?

Contact Us
Mortgage Advice Coventry

We Search 1000's of Mortgage Deals For You

Here are some of the lenders we work with...

Lenders We Work With
Mortgage Advice in Coventry Open & Honest Mortgage Advice in Coventry & Coventrymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

Coventrymoneyman – Sherbourne House, Humber Avenue, Coventry, CV1 2AQ. Tel: 024 7688 0948

The Financial Conduct Authority does not regulate most buy to let mortgages.

Your Rights | Privacy Statement