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What Remortgage Information Do I Need to Know?

Remortgaging is something that most homeowners will consider at some point. Whether you’ve come to the end of your current mortgage term or you’re hoping to secure a better deal, learn more about your remortgage options in our expert guides.

Posted On: January 11, 2022
Updated On: January 16, 2023

When Can You Remortgage Your Property?

We’re taking a look at the top 5 instances you can remortgage your property.

You’ve come to the end of your mortgage term

One of the more common reasons for remortgaging is that you’ve simply come to the end of your mortgage term. If you’re not in a position where you want to sell your property and thus pay off the mortgage loan, you will need to remortgage it.

Change in circumstances

A change in circumstances can often leave homeowners needing to remortgage. For instance, if you’re hoping to start renting your primary residence to tenants, you will need to swap to a buy-to-let mortgage. A change in the way you use your property can often fall outside your current mortgage terms, so it’s important to inform your lender and remortgage if necessary.

Home improvements

If you want to release equity on your property for home improvements, remortgaging can be a great way to do this. If you can prove that your renovations will boost the value of your property and prove profitable against your expenditure, then this will certainly be viewed favourably by potential lenders.

To get a better rate

An obvious reason you might want to remortgage is to get a better rate. As you pay off more of your mortgage and start to own a higher percentage of your property, and if the value of assets have increased since you first took out your mortgage, you will be in a favourable position to negotiate a better rate. You may have even had some good fortune with a significant income increase.

Consolidate your debts

Remortgaging can not only help make your debts more manageable, but could also save you money. It’s important to get professional financial advice to ensure this puts you in a better financial position.

Speak to the remortgaging experts

Looking to remortgage but don’t know where to start? Get professional remortgage advice with Agentis today. We can answer all your remortgaging questions and get you on the path to a better financial future.

*You may have to pay an early repayment charge to your existing lender if you remortgage.