What Is Remortgaging?

Remortgaging is a process in which you move from one mortgage deal to another. It is when you move your mortgage property from one lender to another. Usually, when a mortgage deal is about to end, people opt to remortgage it. However, the reason for doing so varies continuously.

When Should You Remortgage?

The main question that arises is when you should start remortgaging. There are the following circumstances under which you should consider remortgaging:

1. When you see your current mortgage deal is ending. It is advised that you should start looking for a remortgaging deal about three months before your actual deal begins to expire.
2. When you see that the interest rates have risen, if you have a fixed interest rate deal, you should consider remortgaging when interest rates start dropping.
3. When you notice that your discounted variable rate and other rates have risen dramatically.