If you own your own home, you’ve probably heard a bit about re-mortgaging (it’s where you switch lenders without moving home). And I cannot stress enough how worthwhile it is to consider re-mortgaging if you are coming to the end of a mortgage product or did so in the last few years.
The benefits of re-mortgaging at the moment are MULTIPLE.
Rates are lower than they’ve ever been so you could switch to a lower rate and instantly save money. And you can fix your payments for a greater length of time (e.g. a 5 year fixed rates) which give you a higher level of security.
You may even, if your circumstances allow, borrow additional funds for improvements or repairs to your home. And at the moment these super low rates may end up with you seeing no difference in your monthly outgoings, even with additional borrowing. But the vast majority of people still think: ‘It’s too much trouble. It will cost me too much. To be honest, it’s just a faff.’
And that’s fair enough, no-one would blame you for thinking that. All I’d say is have a think about it.
The process is SIMPLER, QUICKER and CHEAPER than you probably imagine. There really hasn’t been a better time than now.