It’s a no brainer. Your mortgage is probably your single biggest expenditure, so cutting its cost is likely to save you money. Remortgaging means shifting your mortgage from one lender to another to get yourself a better deal and you don’t even have to move house to do it.

It’s not just about saving money. It’s also about getting a mortgage which is right for you and your situation. So here are some reasons to think about remortgaging.

Your mortgage doesn’t fit any more. You’ve had a pay rise or maybe you’ve inherited some money. You want to make extra payments to your mortgage but your current deal won’t let you. Or perhaps you need to be able to miss a payment. Changing jobs, going back into education, going travelling – whatever the reason, there are mortgages which will let you take payment holidays. Whatever flexibility you want in a mortgage, chances are it’s out there and we’ll be happy to arrange it for you.  If you are one of the many people in the UK who have been told to expect a shortfall on their endowment then you need to act now, not later. You will still be responsible for paying off your mortgage on the due date, even if your investment has performed badly. It’s your problem, not your lender’s. If you are in this position, it may make sense to convert some or all of your loan to a repayment mortgage to make sure that you’ll be able to clear the debt.  This will cost more every month because as well as covering the interest you owe, you will also be paying off some of the original capital sum that was borrowed.

You’ve got other debts elsewhere which charge much higher interest rates and you want to wrap all your debts into one. If you have a lot of outstanding debts it might make sense to add them to your home loan. After all, the interest rate you pay on your mortgage is probably half or even a third of what you pay on your other debts. But this is not something to do lightly. Remember you are securing this money on your home – so if at some point in the future you can’t make your repayments, your house is at risk. And, of course, if you borrow more and use the cash to pay off your credit card or bank loan, you will pay be paying interest on that extra money for as long as you have the mortgage.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up the repayments on your mortgage.

You're on the lenders SVR.  If you’re paying your provider’s standard variable rate (SVR), you might be paying more than the cheapest deals on the market, so it’s always worth shopping around.

As a member of the Legal & General Mortgage Club we have access to many exclusive mortgage deals. You do not have to keep track of when your remortgage is due, we will contact you to arrange a remortgage review.

Your existing lender may make a charge for early repayment of your mortgage.  APH Financial’s typical fee for arranging your mortgage is £250. Your home may be repossessed if you do not keep up repayments on your mortgage.

More Information

More information is available in Legal & General's brochures which can be viewed by clicking the picture below.

Feel free to call for an informal chat on freephone 08000 842 970 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it   We would be delighted to meet with you at our offices in Bedfordshire, Buckinghamshire, Hertfordshire, Northamptonshire and Oxfordshire.