Thinking about Remortgaging? Here's Why 6 Months in Advance is Key

Looking to secure a better mortgage deal and avoid potential interest rate hikes?

Remortgaging can be a smart financial move, but timing is crucial. Here's why starting your research 6 months before your current deal ends is recommended:

• Lock in Today's Rates: Most mortgage offers are valid for 6 months. By reserving a deal early, you secure a competitive rate even if rates rise later.
• Shop Around for the Best Deal: With ample time, you can compare options from various lenders to find the perfect fit for your needs.
• Budget for Change: Anticipate how your monthly payments might adjust with a new rate, allowing for smoother budgeting.

Beyond Rate Advantages:

Remortgaging offers additional benefits:

• Unlock Home Equity: If your property value has increased, remortgaging can free up equity for renovations or investments.
• Consolidate Debt: Combine high-interest debts (credit cards) into your lower mortgage rate, potentially saving you money.? However, this option should only be considered with advice from a professional.?

Remember:

• Fees Apply: Factor in remortgaging fees to ensure the overall savings outweigh the costs.
• Seek Expert Advice: Consult a mortgage broker to determine if remortgaging aligns with your financial goals.

Start exploring your remortgage options early and make an informed decision for your financial future.

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The post is for information purposes only and shouldn’t be viewed as advice. Please seek advice from a mortgage broker if you are thinking of remortgaging your home. A mortgage is a loan secured against your home.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE