Welcome to the Remortgage area of our Mortgage section which has been carefully compiled to cover the holistic mortgage experience for those remortgaging a property that they currently own. This starts with the mortgage basics and slowly expands into key areas of remortgaging with detailed mortgage tips to provide a solid financial and practical understanding of remortgaging. Our aim is to ensure you are financially well-informed before you commit to a new mortgage deal and save as much of your money as possible.
Key questions you need to ask before taking a mortgage
Did you know that in 2013, the average household paid £666 per month in mortgages? In London, this average was £1,031 per month. In 2018 this figure has increased further but the key considerations and questions that homeowners need to ask remain the same:
- What is my borrowing capacity?
- Which lender is offering me the best mortgage rate?
- Which mortgage type is best suited for me?
- How will I repay the new mortgage?
- What if I cannot repay the mortgage?
- Is the lender providing me with an option to make lump sum payments?
- Do I have to pay a penalty if I redeem the mortgage earlier?
- Am I getting insurance along with this mortgage?
- Are there any additional charges?
- Are there any hidden clauses?
The Remortgage section guides you through specific mortgage articles and has free online remortgage and budgeting calculators embedded so you can work out everything you need to know as you progress.
Getting around the Remortgage Mortgage section
You may already be familiar with mortgages and our website but, if you're not, here's a quick guide to help you make the most of the remortgage guides and tools that we provide.
Each mortgage section is specifically tailored to support different people in different situations who are commonly looking to secure a mortgage on a property (whether first time buyer, remortgaging, buy-to-let or simply working out their mortgage and/or household budget). Each mortgage article can be read independently or as part of the mortgage package, just like reading a book. Each mortgage article will have a link to the previous article and the next in the series, there will also be featured links to calculators and supporting information for those looking to remortgage their home.
Some people prefer to jump around our mortgage articles and tools rather than follow the mortgage article in sequence, that's fine with us. We have added a quick links box to the right which features Articles, Information and online calculators and tools for homeowners looking to remortgage their home. Simple click on the topic to see a list of the most popular content. The quick links tool does not contain links to all our First Time Buyer articles and calculators, just the popular ones. If you are looking for something specific and can't find a link, use the search tool.
The "next" and "previous" mortgage article links will appear below each article, just like the one below. Click on the white box to get started with the first "Remortgage Mortgage Guide".
Let's get started: Remortgage Refresher Guide
- Remortgage Guide
- Preparing to remortgage
- Good reasons to remortgage your property
- Good reasons NOT to remortgage your property
- Mortgage Lending: How much you can borrow?
- Mortgage Fees Guide
- Reducing your costs when remortgaging
- FCA Mortgage Legislation
- Flexible Mortgages
- Fixed Rate Mortgages
- Variable Rate Mortgages
- Interest Only Mortgages
- Mortgages Overpayments
- Property Search Tips and Tricks