Remortgage tips

Are you thinking of remortgaging? If so, the following remortgage tips may help you on your way to the right deal for you.

Homeowners may decide to remortgage because they:

  • suspect that a better deal may be out there;
  • have come off a mortgage product and want to find the best product for the period ahead; or
  • need to work out their repayments to accommodate a change in their lifestyle.

So if you are looking to remortgage? Where may you start?

Get some advice
Just because you have already arranged a mortgage previously, it does not negate the need for Professional Advice. Since you took out your last mortgage, your needs may have changed and new mortgage products will have come onto the market. Accordingly, a Mortgage Adviser’s help could prove most valuable.

Spread your wings
If you are loyal to a particular bank or building society, your loyalty could be costing you money. One of the most important remortgage tips out there is that shopping around may save you money.

At Shire Financial Management, we have access to the entire market of mortgage products and can give mortgage advice on different products because we are not tied to any particular provider.

Do not delay
If you have seen a mortgage offer you like the look of, it may make sense not to hang around as it may not be available forever. As interest rates may change or other issues in the financial world conspire to have an effect on what may be available, you may wish to get a new mortgage sorted as soon as possible.

Time for a tidy up?
Whilst not strictly speaking part of a list of remortgage tips, have you looked at your finances as a whole recently? Whether you have remortgaged to get a better deal, or because a life-changing event prompted you to consider your options, you may wish to use the moment to take stock of your other financial affairs. For instance, your Will may need updating (or you may not have one), or you may have freed-up some spare money with your remortgage deal that could be invested elsewhere. You may wish to speak to your Independent Financial Adviser about these issues.

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