Remortgages come around faster than Birthdays - or so it seems! The Remortgage process can be a daunting one. Imagine this, you've bought your home, you've redecorated, you may have had a couple of kids and you're really settled... then BAM, a letter drops through the post from your lender saying changes are being made to your current deal. This usually means your interest rates might creep up! So where do go from here? We're joined in this episode by Lee Carthew, a WMC Adviser, on the best practices on how you can keep on top of your mortgage.
A remortgage is where your current mortgage deal or product comes to the end and a change is about to happen - usually the interest your pay is changing, in most cases, to a higher rate!
Starting 6 months before your current deal ends, gives you plenty of time for you to plan what to do next!
It's common practice to try and save on the interest your paying but people also look to use this event to make changes such as;
This might mean moving to a new lender that will accommodate what it is you're looking to achieve, or sticking with the current lender and restructuring with them - either way, we're looking to get the best deal possible.
Sometimes though, our lives change and a remortgage to another lender is always achievable.
Lee brings us up to speed with the entire remortgage process, options to consider and shares best practices to make it a straight forward process.