A mortgage is usually a household’s main expense and ensuring you get quoted the cheapest remortgage rates when your current deal comes to an end could really make a difference to your finances. 

So, what is the best way to secure the cheapest remortgage rates? The place to start is to know what sort of mortgage you want.

Do you want to remain on a fixed-term mortgage or take advantage of interest rate changes with a variable rates mortgage?

Remortgage: Securing a better deal

Laying the groundwork and considering what you can afford to pay will help you work out what sort of deal you are looking for – then find the best rates.

This can easily become overwhelming but a good mortgage advisor will help you identify which mortgage will best fit your needs, as well as locating the lowest remortgage rates.

Planning ahead to find the cheapest remortgage rates

Here are few tips to get you started:

• Know when your current deal is due to end and be prepared. If you fail to plan properly you may be switched to a standard variable rate while putting a new deal in place.

• Take care to maintain a good credit score. In short this translates to avoid forgetting to make monthly payments, or applying for financial contracts, loans or credit cards where there is a chance you may get rejected.

• Make sure you know the value of your home and be mindful if its worth has increased. House values can actually rise due to a new housing estate being built or a link road put in place. If the rise in value lowers your loan to value rate you may well benefit from a cheaper remortgage rate.

• If you have changed jobs – or even stayed in the same one – make sure you know exactly what you earn to update details.

• Seek the help of a mortgage advisor. Mortgage advisors will know exactly when and where to look for the best deals – and may have exclusive access to a variety of mortgage deals suitable for your needs.

Keeping your finances in order may come naturally, but to some people this is a source of stress. Getting the information you need to hand will put you on the right footing to securing the right remortgage rates.

Seek expert advice to gain the best remortgage rates

If you have managed to save some of your earnings into a reasonable lump sum it may be worth considering paying that amount off your mortgage as this will again lower the loan to value rate.

When looking for remortgage rates seeking the help of an advisor will take the stress out of the search as well as give you expert access to the best deals on the market.

For help to secure the cheapest remortgage rates for your home contact AMG Financial Solutions - Staffordshire on 01785 225983 or email stafford@amgfs.co.uk.

Issued for and on behalf of AMG Financial Solutions