What Is Remortgaging?

Remortgaging is basically 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. Normally, 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. These are there 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 3 months before your actual deal starts to expire.

2. When you see that the interest rates have risen. If you have a fixed interest rate deal, then you should consider remortgaging when interest rates start to drop.

3. When you notice that your discounted variable rate and other rates have risen dramatically.