About remortgaging

We hope this information offers you a few tips on making the right remortgaging decision.

The best rate to take

Remortgaging to get a better rate can often be a financially wise move, particularly if you plan to increase the size of your loan.

Fixed-rate mortgages can offer peace of mind for future budgeting.

If you're looking to remortgage your home in order to free up capital, you could consider a discounted mortgage. A discounted rate can offer immediate savings and possibly provide you money to invest in home improvements, your family or investments. Though, please bear in mind that if you're raising extra capital for non property-related purposes you will accrue debt on the property and paying it off over your mortgage term may increase the amount you pay overall.

The winners and losers

The lending market will always fluctuate, in keeping with changing house prices. Over recent years, interest rates have dropped and mortgage deals have become more desirable. But in years to come, the rates could rise and the competitive deals dry up. So should you take advantage now?

If you've a variable rate loan of over £30,000 and no early repayment charges, see if NatWest can offer you a better deal on your mortgage. Even if your current home loan does have an early repayment charge, you may still find that the gains outweigh any costs incurred.

On the other hand, if your home loan is below £25,000, it would be a good idea to check up first on fees that you might have to pay when you remortgage. You could find that the savings you make on your new home loan are actually less than the cost of the fees required to move.

Finally, if you've recently moved jobs - or you've become self-employed - you may find that mortgage lenders are a little more hesitant in offering you a remortgage deal. Understandably, we need to know that you can repay what you borrow, and a proven track record of your income will help convince us!

Find out about NatWest's remortgage options