Remortgaging to get a better interest rate

So, can you negotiate a better mortgage rate?

It’s quite common for people to think about remortgaging to get a better interest rate, especially when the Bank of England base rate is at a steady low.  And, although many people wait until the fixed term of their existing mortgage expires, it’s worth reviewing your rates and repayment terms regularly to find out if you would benefit from changing. You may want to simply review your arrangements to see if the current mortgage deal you have is as good as it can be, or if there is a better option out there for you.

There are several reasons why you might want to remortgage, including:

• Taking advantage of lower interest rates with another lender or product
• Your current mortgage fixed term has come to an end
• Your circumstances have changed, and you would like to alter your payment
• You want to raise some capital for home improvements
• You want to move or purchase another property
• You’d like to switch to a fixed or variable rate, depending on your current financial situation and level of stability.

So, if you’re asking yourself ‘can I remortgage before my fixed rate ends? or ‘how long does a remortgage take? – it’s a good idea to contact us to talk through your current situation. At Private Wealth Mortgages, we advise you on the best course of action when it comes to your remortgage and financial goals. Our expert mortgage advisors look at a range of criteria related to your individual circumstances to determine how you would benefit from changing your mortgage, and to find the best deal for you. This can include increasing or decreasing the amount you repay, switching to a fixed, variable, repayment or interest-only mortgage, and helping you release equity.