Can I remortgage to get a cheaper rate? – Which? News

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    Why you can trust Sky News It is hoped that proposed changes to responsible lending rules can help thousands of so-called mortgage prisoners secure a cheaper loan.

    Nationwide has now increased the length of its remortgage offers from three to six months. This means new and existing.

    In general, lenders will lend about four student loan (vsl) student financial supplement scheme (sfss) Student Start-up Loan (SSL) ABSTUDY Student Start-up Loan (ABSTUDY SSL) Trade Support Loan (TSL).

    This cost can be drastically reduced with a remortgage, letting you move to a cheaper rate than your existing deal. It is worth asking your existing lender about remortgage deals as it may have preferential rates for existing customers but it is also worth shopping around so you can compare the costs.

    Remortgaging can be a way of reducing your monthly mortgage payments by moving to a lower LTV mortgage deal or switching to a lower rate than your current mortgage. You can remortgage to access new, additional finance for things such as home improvements or to buy a second property.