Cheapest Remortgage UK

Did you know that over 60% of UK borrowers are paying too much for their mortgage?

In an increasingly competitive market remortgage lenders offer loyalty incentives and low interest rates to attract new customers. The majority of these special discounts only last for the first few years of the mortgage term before reverting to the lender's Standard Variable Rate (SVR) - which is invariably the most expensive option.

If you have an existing mortgage which is older than two years, you could be paying interest at this higher rate. However, with a remortgage you can take advantage of these special deals and save yourself a considerable amount of money.

An increasing number of people are realising the benefits of remortgages. According to recent estimates up to 40% of new mortgage applications have been for people switching their mortgage, and with websites like Cheapest Remortgage UK it has never been easier.

To get started simply click on one of the "Compare Deals Now" buttons and choose the remortgage type that suits your needs.

Remortgage Guide

There are an estimated 8000 different mortgage deals available in the UK, and finding the best deal for your circumstances can be a time consuming and stressful task.

If you're confident that you know what you want, you can find a remortgage yourself. If you're not, it may be an idea to get advice from a mortgage advisor who covers the whole market. But even if you are planning to get some outside advice it helps to do some background research first - this will allow you to give some thought to what type of remortgage you want, and will show you how much you should expect to save.

What exactly is a remortgage?
Remortgaging is switching mortgages without moving home. Aside from reducing your monthly payments, swapping mortgages will also allow you to release some of the equity that has built up in your home.

You are effectively ending your current mortgage arrangement and switching to a new deal. You do not necessarily have to switch lender - if your present lender can offer you a better deal than is available elsewhere, you can stick with them but switch to a better deal. This way you might not need a new valuation (unless you are borrowing more) or pay any solicitor fees.

When considering a remortgage, it is important to keep in mind the costs involved in swapping mortgage products. An early repayment charge, if you have one, is likely to be the biggest expense. These charges, sometimes as large as six months interest, are usually associated with fixed, capped, cashback or discount rate deals. Some lenders also make you pay interest until the end of the month in which you redeem your mortgage. If this penalty applies, end your mortgage close to the end of the month to avoid paying interest on money you no longer owe.

Independent remortgage advice
By completing our secure online Enquiry Form, you can discover how much you could save over the remainder of your mortgage term. As an a whole market mortgage broker we hold no bias towards any one lender, and will not recommend remortgaging unless it is beneficial to you.