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If your mortgage deal has come to an end with another lender, or is coming to an end, why not contact Dan The Mortgage Man for impartial and professional remortgage advice for the best remortgage deals on the market?
Why do people remortgage?
Remortgaging is the process of repaying an existing mortgage debt with a new mortgage. People usually remortgage to save money with a lower interest rate, or to raise money by borrowing against equity.
There are a number of reasons as to why people may want to remortgage, including an existing deal coming to an end, worrying about rising interest rates, needing to borrow more money and the value of the home increasing.
People who already have mortgages tend to look at remortgage deals and monitor the market to see if they can get a better deal than what they already have. After the initial fixed rate, mortgages can revert to a higher interest rate, which means more money being spent each month. Homeowners look to remortgage to switch to a better deal with a different mortgage provider.
How much money can you save by switching mortgages?
A mortgage will most likely be one of the biggest financial commitments you will ever have, so it’s worth talking to a local mortgage broker to find a range of remortgage deals that are competitive and suit your circumstances well.
If you have had your current mortgage for a while, or your situation has changed, it’s worth taking the time out to contact a mortgage broker to see what type of mortgage would suit you better.
When is it a good time to remortgage?
The best time to think about remortgaging is when a deal you’re currently on changes and you have to start making higher payments. You may need to pay a penalty for leaving a current mortgage deal early, but sometimes a remortgage deal can make up for leaving a current mortgage deal early.
How Dan The Mortgage Man Can Help
Whatever the reason may be for remortgaging, we can help. We will scour the remortgage market and find the right policy for you. We’ll take into account your individual requirements and current situations to provide the best possible advice to help you.
To find out more and to discuss the latest remortgage deals, please call us on 07837 820 894 or email info@DanTheMortgageMan.co.uk.