Benefits of Remortgaging

1.	Save money - Reduce outgoings
2.	Debt consolidation** - All debts into one mortgage Mortgage interest rates are some of the lowest available compared with other loans. By converting all your existing debts into one more easily manageable low interest remortgage you could save money and make life easier. **In respect of Debt Consolidation: You could be turning short term unsecured debt into long term secured debt and that the total charge for credit could possibly be higher.
3.	Equity Release** - Releasing the positive equity in your home If your home has increased in value since you got your mortgage you may be experiencing positive equity. This means that the current market value of your home is greater than its current mortgage value. Releasing this equity may be the cheapest form of borrowing. **In respect of Equity Release: You could be turning short term unsecured debt into long term secured debt and that the total charge for credit could possibly be higher.
4.	Unique situations There are also other unique reasons for remortgaging that apply to specific lenders - such as remortgaging to a current account to make your money work more efficiently, or switching to a fixed interest rate in times of high interest rate fluctuation.

How much could you potentially reduce your monthly repayments by switching mortgage or remortgaging to consolidate your current mortgage and loans (credit cards, hp etc) click here

Tips and Advice on Remortgaging

•	How much better? The lender or advisor should be able to offer a favourable rate in comparison with your old one, and work out your savings per month.
•	What is an SVR? An SVR is a Standard Variable Rate comparing today's SVR with that charged by other lenders may give you some idea of how truly competitive your new lender is.
•	What is APR? Annual Percentage Rate is meant to provide customers with true reflections of the cots of loans, they can be unreliable-upfront and thorough quotes are more indicative.
•	How often can I remortgage? As often as you like but bear in mind paying for redemption and arrangement fees, but its worth looking every year to see if remortgaging will save you money.

Mortgage Locator does the legwork for you - applying your personal circumstances and needs by searching from over 4,500 mortgage products from 150 lenders to find you the remortgaging deal.