Should I Remortgage My Home This Year?

Published: 21/02/2018

There are expected to be two interest rate rises this year – in April and then another in autumn.

As such, if you own property, 2018 could be a good year to to consider remortgage. Remortgaging involves switching your current mortgage deal, either to stay with your existing lender or to move to a new one.

Why should I remortgage right now?

In simple terms, the bank rates are probably going up.  People who are on a SVR (a standard variable rate) will need to remortgage their properties to get back onto a fixed rate. While there is no guarantee the rates will in fact rise, it can’t hurt to look into your/for your client to look into their options as a precautionary measure.

What are the benefits of remortgage?

Remortgaging can enable you to save money by locking in a lower rate.

Usually, when you take out a mortgage, you will be given a discounted or a lower tracker rate. Once that deal ends, you will probably be moved onto the lender’s standard variable rate. This rate tends to be higher. At this point, many homeowners consider remortgaging.

You can reduce your payments by switching to a lower fixed rate with another lender.

Alternatively, you can find a cheaper deal, but keep your monthly payments the same. This way, your mortgage will be paid off sooner. Yahoo!

Why should you remortgage with GWlegal?

Our remortgage team has more than 70 years of experience between them!

Your case will be personally handled by a true expert in the field.

GWlegal also has a five-star Solicitor.Info score based on positive client reviews.

We are a national firm with local values. What that means is, GWlegal is a family business. Most of our staff boasts long-service status. Yet our 30 years’ experience means we help clients from all across the country.

Get in touch. We’d love to hear from you on discuss@gw.legal or by phoning us on 0345 373 3737.

Content correct at time of publication.