The findings show that almost a half of homeowners believe that the word “remortgaging” has negative connotations, and three in five borrowers are unsure what remortgaging actually means.
So, let’s be clear, a remortgage is when you switch your existing mortgage to a new deal either with your existing lender or a new provider. You don’t need to be moving house either, as the new mortgage can be secured against the same property.
There are a whole host of reasons for remortgaging your property, from saving on your monthly repayments, reducing the length of your mortgage term or raising money for home improvements such as building an extension.
To take advantage of some of the lowest interest rates ever, call Oviso today and speak to one of our professional advisors.