In today’s fast-changing financial landscape, it’s more important than ever to take control of your home finances. One of the most effective ways to do that is by considering a remortgage — a strategic financial move that could lead to substantial long-term savings.
What Is a Remortgage?
A re mortgages is when you switch your existing mortgage to a new deal, either with your current lender or a new provider. The goal? To get better terms that suit your current financial circumstances — whether that’s lower monthly payments, reduced interest rates, or access to cash through equity release.
Top Benefits of Remortgaging
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Lower Interest Rates
If mortgage rates have dropped since you took out your initial deal, remortgaging could reduce your monthly payments significantly. -
Avoiding Standard Variable Rates (SVR)
When your initial deal ends, you’re likely to be switched to your lender’s SVR — which is usually higher. Remortgaging before this happens can help you avoid increased costs. -
Releasing Equity
As your property value increases and your mortgage balance decreases, you may be eligible to release some of the equity you’ve built — useful for home improvements, investments, or consolidating debts. -
Switching to a More Flexible Deal
Life circumstances change. You may need a mortgage that allows overpayments, payment holidays, or a longer/shorter term.
When Is the Right Time to Remortgage?
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When your current fixed or tracker deal is ending.
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If your home’s value has gone up.
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If you want to borrow more money.
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If you’re on a high-interest rate.
However, remortgaging isn’t always the best choice — early repayment charges, arrangement fees, and legal costs can apply. That’s why getting expert advice is key.
Trust the Experts
Remortgaging is not just about finding a cheaper deal — it’s about aligning your mortgage with your financial goals. At ARK Mortgages, we help homeowners like you navigate the remortgage process with clarity and confidence.
Thinking of remortgaging? Let us guide you to a smarter mortgage solution today.