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Remortgage Advice Leeds

Freedom Advice has over 20 years’ experience in providing professional and trustworthy remortgage advice to people living in Leeds and Yorkshire.

There are a variety of reasons why you might choose to remortgage your home, including reducing the size of your loan to get a cheaper rate, or even to borrow more.

Things to consider deciding whether to remortgage

It’s no secret that around a third of mortgages in the UK are actually remortgages, so choosing to remortgage can be a valuable option, but there are pros and cons that you must consider first.

Consider remortgaging your home if:

  • Your current deal is about to end: Many mortgages deals only last two to five years, so your lender may choose to put you on its standard variable rate (SVR). If this is the case, you could find a cheaper rate elsewhere.
  • You want a better rate: Despite having to pay a repayment charge and an exit fee, you could still make huge savings. At Freedom Advice, we can find the most suitable rates for you to help you save big.
  • The value of your home has gone up: If the value of your property has gone up since you took out your mortgage, you could be in a loan-to-value band, which means you can enjoy lower rates.

Avoid taking out a remortgage if:

  • There is a large early repayment charge: Most loans have an early repayment charge, so it might not be financially viable to leave before the incentive period ends. We can help you understand and calculate the costs of a remortgage when an early repayment charge needs to be considered.
  • If your mortgage debt is small: If your loan is below a certain amount it might not be worth taking out a remortgage. This is because the smaller your mortgage is, the higher the fees that you will have to pay.
  • If the value of your home has dropped: The lower the value of your home, the amount that you owe will be bigger in proportion. Additionally, you could be in negative equity, which means you owe more than the value of your home.

Why choose Freedom Advice

Totally flexible in our approach, our Leeds office covers most of Yorkshire and we can even arrange for a home visit should this be more suitable. From start to finish, our mortgage advisors work in your interest so you get the most suitable rates for your personal situation. Whether you are self employed or have a complicated financial situation we can help.

Authorised and regulated by the Financial Conduct Authority, we’ve provided unbiased remortgage advice to countless homeowners in Leeds and we compare the whole market, of thousands of mortgages, to get you the most suitable offer for your circumstances.

If you would like to know more about remortgages, or how we could help you through the remortgage process, call us on 0113 829 3465 or check out our contact page.

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments. Think carefully before securing other debts against your home.