Your mortgage may have been the best deal for your circumstances at the time but is it still performing as well as it could?

Remortgaging is a good way to escape high variable or fixed interest rates and more and more UK homeowners are moving their mortgages to save money. Even if you have just come out of a special deal and are obliged to pay a penalty if you change, do not be deterred, re-mortgaging often reduces your monthly mortgage payment enough to still save you money in the long run. As your professional advisor, we will work out if this is beneficial to you.

In recent years remortgaging has become a much simpler and more common process. More and more lenders are offering specialist remortgaging services - often with free legal and arrangement fees.

As well as reducing your monthly payments, you can also use remortgaging to release the equity that's built-up in your property over time. If you have owned your property for several years, it could be worth more than your outstanding debt therefore taking out a larger mortgage could release some extra cash. This could be spent on home improvements, a new car or a luxury holiday if you like.

When you re-mortgage, you are essentially replacing your existing mortgage with a new one, shifting your debt from one lender to another. There are thousands of mortgages available across the market and we will take into account what different lenders are offering at present and find the best deal for your new circumstances.

Note to existing Halifax borrowers

Halifax have developed a very quick and efficient system to put in place replacement deals for their existing borrowers. We have direct access to this system and can therefore help you explore your options, whether a review is due imminently, or you just want to keep an eye on how competitive your mortgage remains. Indeed, if eligible, you could benefit from additional options compared to borrowers with other lenders. All it takes is to contact us with your Halifax mortgage number. We will then enquire about the current status of your mortgage, schedule times to recontact you and actively manage reviews for you. For more information, please contact us.