How does a remortgage work?
Mortgage holders search for the most competitive loan possible to choose where to remortgage to. Depending on the near future, different mortgage products will represent better or worse value, and it is up to the consumer to predict this or rely on an independent financial adviser. For instance, if interest rates are to climb during the special deal period, a fixed-rate mortgage will protect the borrower from rate rises and ensure a guaranteed level of repayments. However, if interest rates are going to fall, a tracker mortgage will follow Bank of England base rate down, potentially providing cheaper mortgage repayments. Other special deals such as variable rates and discounted rates may represent good value for some borrowers. Please see our remortgage FAQs and remortgage top tips for more information. Click here for information on remortgage deals.
