How does remortgaging work?

Remortgage is a process of moving your mortgage to a new lender and the reason for remortgage could be like to like remortgage, raising additional funds or debt consolidation. The process is very similar to initial mortgage application.

Before remortgaging with a new lender, it's a good idea to see a remortgage broker in London for better understand the process and to find a cheaper product.

There are a few stages to remortgaging. Here are some tips to help with the process:

• Investigate the various options to see if remortgaging is worthwhile.

• Examine your monthly incomes and outgoings to determine how much you can afford to spend.

• Find the best offer for you, your budget, and your requirements. It may be worthwhile to seek independent counsel to assist you in making a decision.

• Make sure you're remortgaging at the correct moment. If you're still locked into your current mortgage, transferring may result in early repayment costs.

• Plan ahead of time so you can begin your new contract as soon as your existing one expires.