Mortgage IQ

Remortgaging simply means switching your existing mortgage to a new deal, often to a new mortgage lender.

The main reason to do it is that you could end up saving lots of money by arranging a new deal, with a better interest rate or for a bigger amount.

If you choose to remortgage, you could cut your rate, release equity built up in your property, or move from a variable-rate deal to a fixed rate if you want to manage your budget easily.

Remortgaging can reduce monthly repayments. If this is what you're after, you should look at the rate you currently pay, check if you have any penalty to leave and then do a 5 minute price check with Mortgage IQ. By just answering 6 simple questions they will be able to identify whether they can save you money on your mortgage payments.
Apart from reducing your monthly payments, there are other catalysts for people remortgaging. When you remortgage it is a good opportunity to raise additional capital and this can be for a variety of reasons. The most common reasons fro remortgaging would be:

1. Home improvements

2. Repay Debts/Debt Consolidation

3. Invest in other property at home or abroad

4. Buy caravan/boat/car