Like every bill you pay, it makes perfect sense to regularly check whether you have the right mortgage for you.

Of course, whereas changing your broadband provider might save you £10 or £15 a month, Dr Peter Backus, Senior Economics Lecturer at the University of Manchester, has estimated that 55% of homeowners could be wasting nearly £300 a month through not remortgaging!

So is remortgaging, or at least considering remortgaging, worthwhile? You betcha!

Most of us are now quite comfortable changing our mobile phone or broadband provider on a regular basis. We do it because most suppliers rely upon the lazy or busy consumer when putting together their price plans. A competitive initial deal might quickly turn into an unnecessarily expensive one after the initial period has expired. It’s the same with mortgages, which is why it’s always a good idea to take advice from an experienced mortgage adviser when searching for your next loan.

Speak to our remortgage specialists today.

There are a variety of things to consider when looking at your options. For example, how much equity do you have in your home? The more you have, the better chance you have to improve your LTV (Loan to Value) ratio and improve your ‘buying power’. It’s also important to consider what other penalties might be attached to the early repayment of your existing mortgage.

Most mortgages revert to a standard variable rate (SVR) once the initial special rate has finished, which in many cases might be uncompetitive. Before the end of this initial period, it’s not unusual to find that a mortgage lender will demand an ‘exit fee’ or ‘early redemption’ fee which can be considerable. This may make remortgaging early in a mortgage unviable, but it will depend on the facts in each case.

There is also the cost of remortgaging. Lenders may require a new valuation be undertaken and there will be some legal paperwork that will need to be dealt with too. And then there’s the perceived ‘hassle-factor’. This used to be a real issue but nowadays firms like Mortgage Required are here to streamline the process and make your experience pain-free!

Many borrowers will check their mortgage remains competitive every couple of years or so. Others will be prompted to remortgage in order to either extend or improve their home, release equity to fund another purchase or to consolidate debt or to simply reduce the amount of interest accrued over the term of the loan itself. Whatever your motive, it makes sense to be re-considering your options regularly.

We can help reassure you that you are not paying over the odds quickly and easily. Why not contact us for an initial chat on 01628 507477 or book a Free Call or Video appointment.

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Your home may be repossessed if you do not keep up repayments on your mortgage.

There will be no fee for Mortgage Advice. There may be a fee for arranging a mortgage. The precise amount will depend upon your circumstances, but we estimate it to be between £399 and £599.

Mortgage Required Ltd, Finance House, 5 Bath Road, Maidenhead, SL6 4AQ is authorised and regulated by the Financial Conduct Authority reference 573718 at

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