Re-mortgage

A re-mortgage is when the terms of your original mortgage are changed. This is usually to get a better interest rate on a mortgage deal or to change the type of mortgage. Both changes are designed to cut monthly expenditure.

Whilst re-mortgaging a property could lead to substantial monthly savings, it does incur initial costs. You need to make sure the monthly savings will outweigh the initial expense in order to make it worthwhile.

For more information on re-mortgaging, the types of re-mortgage and the costs involved, speak to a Mortgage Expert by fill in the mortgage form.