Remortgage rates

Remortgaging is an important part of being a homeowner. It is an opportunity for you to secure a better deal on your mortgage, which could boost your finances for at least the next couple of years - especially in the current climate, when rates are relatively low.

The remortgage rate you`re likely to be offered can depend on a number of factors.

What can affect the remortgage rate I`m offered?

Currently, the best interest rates offered on remortgages are much lower than in recent years - meaning you may have an opportunity to get a lower rate than in the past, saving you money each month.

However, you`re only likely to be offered the very best remortgage rates if:

• Your credit history is good. If you`ve struggled in the past and have missed payments, lenders might offer you a remortgage with a higher rate than the best rate they have advertised.
• You have a large deposit. Many banks require at least a 25% deposit for their very best rates, while a few might even ask for 40%. Remortgages that only require a 15%, 10% or 5% deposit are likely to carry a higher remortgage rate (and/or a higher arrangement fee).

Even if your circumstances are less than perfect, though, you may still be able to find a highly competitive remortgage deal - it might just take a little longer to find.

How can I find the best remortgage rate?

There are a number of websites that can help you to find the right remortgage deal for you. However, not all lenders advertise all their deals on these websites, so it`s also worth searching the market yourself to see what you can find.

This can be time-consuming, though, so it`s worth speaking with an expert mortgage adviser, who can help you to find a deal that meets your needs.

Remortgage with Think Money

Our expert mortgage advisers will search our panel of High Street lenders to find the best deal for your circumstances. We`ll also take care of all the paperwork on your behalf.

If you`re looking for a remortgage deal, click here for more information or call us today on 0800 195 2913.

Note: it`s vital that you think carefully before securing any kind of debt against property - you may lose your home if you don`t keep up with repayments to a mortgage or any other debt secured against it.

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