remortgage??

myright

What's the purpose of remortgaging? Is it just moving from one lender to another? I . Moving the debt? Also does it cost more or what is the reason behind it? For a remortgage do you have to do a brand new application?

Moreover, to increase your mortgage do you need to remortgage or what is the process? For example if I needed extra to build an extention or buy something new and secure it against the house.

Furthermore,

myright

Bump.......

dimbo61

When you took out the mortgage from your current lender you will have had a mortgage term normally 25 years or maybe longer.
You may have also been given a Deal ! 2/3/5 year fix or tracker deal which is about to run out ?
If you read the paperwork that you signed when you took out the mortgage it should tell you what happens next IE the SVR standard variable rate or a long term tracker.
If you now want or need to borrow more you need to find out how much your home is worth, the LTV and if you can borrow the extra you need.