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Time to Remortgage?

Anyone with a mortgage would be well advised to make a periodic check on their current arrangements and compare them to market rates being offered. If your mortgage is not currently within a special rate period or not within an extended tie-in period then it makes sense to look at remortgaging if appropriate. Experts suggest that you should at least review your mortgage whenever a special rate period ends. The whole procees of remortgaging has become a little more involved recently with the advent of increased entry and exit charges being applied. The mortgage is currently under investigation about these fees which have seen dramatic increases in recent years. The upshot is that fee calcualtions need to be part of any remortgaging decision.

Remortgage Reminder

It's easy to forget about your mortgage and let your deal slip back onto an unfavourable rate without you really notising the impact. Do yourself a favour and set yourself a reminder to review your mortgage on a periodic basis. If you have used a mortgage broker in the past they will often act as your reminder. If they can find a cheaper deal and persuade you to remortgage, they get the chance to earn some more fees. It's not a bad thing as you would both stand to benefit.

Best Remortgage Deals

Finding the best remortgage deal is getting more complicated as we've stated elsewhere on the site. The starting point is to review and understand your current deal and maybe contact your current lender about what they can offer. It could be easier to stay with the same lender but switch to a newer deal. They will certainly make it sound easy but chances are you won't get as good a deal as you would on the open market.