Topic: Mortgages

Should I remortgage?

New customers aren’t the only ones who stand to benefit from cheaper mortgages.

Mortgages are long-term commitments but you do not have to stick with the same product for the whole term of the loan. A remortgage is where you take out a new mortgage on a property you already own – either to replace your existing mortgage, or to borrow money against your property.

With mortgage borrowing rates currently at a near all-time low, homeowners are able to borrow more cheaply, which largely explains why the number of people remortgaging hit a seven-year high in August 2017, according to the Council of Mortgage Lenders.