Whether you’ve come to the end of a fixed-term period, or you're just looking for a better deal, remortgaging your home can be an attractive option.
Whether you’ve come to the end of a fixed-term period, or you're just looking for a better deal, remortgaging your home can be an attractive option.
If your fixed-term period has come to an end, it's a good idea to shop around to see if you could save money by remortgaging your home.
When you remortgage your home, you take on a new mortgage deal based on what you have left to pay off. You can either enter into a new agreement with your current lender or switch to a new provider.
When you reach the end of a fixed-term contract, your monthly interest repayment rates may go up or down, making them harder to predict. If you're looking for a mortgage that offers stability, finding a new fixed-term deal might be the right approach.
However, when you’re remortgaging your home, you should look closely at the repayment terms and conditions. Entering into a new agreement might seem appealing at first glance, but you should take some time to find out if it offers value in the long term.
If you’re applying for a new mortgage through your current advisor, you won't usually be required to provide any new information about your financial circumstances.
If you choose a new provider, you’ll need to re-apply for the mortgage and provide your financial details, just as you did when you first applied for a mortgage. You'll undergo credit and income checks which you will need to pass before your new mortgage application is approved.
You'll need to consider:
If you're remortgaging through a new provider, you’ll also need to demonstrate that you have:
Trulife is a remortgage specialist in Wales and the wider UK. Our advisers can help you get to grips with the options available to you.
As mortgage brokers in Wales, we are on hand to answer your questions and match you with a provider that meets your requirements.
We'll offer support with:
Making an application with a new provider
Helping you understand providers' terms and conditions
If you’re thinking of remortgaging, talk to Trulife. We’ll quickly connect you with a member of the team and give you guidance on the great deals for you to choose from.
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