Remortgaging is a good way to escape from the standard variable rate mortgage deals offered to customers after their initial mortgage deal has expired. These standard rates are often much higher than the rates that lenders offer to new customers.

It can also be a good way to raise funds for an expensive purchase or to repay expensive credit card debts and loans. If you have owned your property for a number of years, it could be worth much more than your outstanding mortgage, giving you valuable equity to release for home improvements, repaying other debts or even to use as a deposit on a second property.

Remortgaging may also appeal if you think interest rates will rise. You can take advantage of today’s low rates by ‘fixing’ your mortgage repayments.

If you are looking to consolidate debt, initial savings may be achieved by re-arrangement of existing loans, which may result in extending the term of loan and in turn increase the total cost in some circumstances.

Remortgaging your home could enable you to make the following improvements to your life:

• The holiday you have always wanted

• A new car

• Consolidate your debts

• Home Improvements

• School fees

• Or a straightforward swap to give you more competitive monthly repayments or benefits

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. There may be

occasions where we may charge a fee, which may depend upon your circumstances. In these situations we will inform you at an early stage, the fee being no more than 1.75% of the loan amount.