What you need to consider when remortgaging
It is important to ensure remortgaging is cost-effective for your personal situation. For example, if the value of your outstanding mortgage is small, it is quite likely that the costs of remortgaging will cancel out any potential savings on offer.
When you sign up for a new mortgage deal, you may be locked into it for a certain period of time; usually around one to five years. It is therefore important to check and discuss with a financial advisor or mortgage advisor your specific situation. It is best to get remortgage advice before you begin the conveyancing process, so you know what you are getting yourself in for.
But for an initial insight into what your remortgage costs may be, we have a useful remortgage costs calculator which you can use.