Remortgaging When The Introductory Fixed Mortgage Rate Ends

When your introductory mortgage rate comes to an end, you may wish to shop around to see if another lender can offer you a better interest rate. This is known as remortgaging and can be a great way to save you significant amounts of money on a month by month basis.

Also, by decreasing the interest rate on your mortgage, you are decreasing the amount that you`ll have to pay back overall, so you benefit in the short-term and the long-term.

Changing to a Fixed Rate could prove to be a good way of safeguarding paying a higher mortgage in the future, although if interest rates drop you will not see the benefit opposed to a tracker mortgage, although interest rates are currently at some of the lowest rates in history.

When you remortgage, you may be able to borrow more than the amount needed to repay your outstanding mortgage balance, therefore releasing up extra cash for refurbishing your home, paying off expensive personal loans, or helping your children get through college, could be a great help to you.

First Choice Mortgages often has access to some amazing fixed rate mortgages deals so please give us a call or complete our simple online enquiry form

Mortgages & Remortgages 8.4% APRC. Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)

Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

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