A Remortgage – What is It?

You say tomato, I say tomahto. You say remortgage, I say refinance. Yup, you guessed it. They both mean the same thing. The only difference is “remortgage” is the term used primarily in England where as “refinance” is used in America. Since the housing crash hit, more and more people are searching out for a new loan once their existing rate starts adjusting. This is typical for those who went with a 3 or 5 year ARM instead of locking in a 30-year fixed.

Has your number been called yet in the UK or are you just looking for a better overall mortgage rate? If so, now is the time to start looking while interest rates are still reasonable. The hardest part is finding the right person or loan broker to work with (at least in my experience) but with the internet at your fingertips, it’s much easier.

As I mentioned in my previous post about researching home insurance policies, using a search engine comparison site is the best way to compare and find deals catered for you. This is also true when it comes to just about anything these days. Before I order things online, I use shopping comparison sites like Froogle. When I’m searching for health insurance I’ve used ehealthinsurance.com. Now, if you’re living in the UK and looking for a remortgage, I would try a site like remortgage.org.

Remortgage.org makes it easy to speak with a mortgage professional for free advice regarding a remortgage in the UK. After completing 3 steps on their site, you’ll get access to one of their professional remortgage brokers. They will then answer your questions regarding advice on a mortgage or remortgage in the UK. I have yet to personally try them out since I don’t live in the UK but their site is pretty clean and useful which presumably means their staff is professional too.

If anyone has used remortgage.org, I would love to hear about your experiences by commenting below. Our goal is to help share knowledge and real estate information that is useful to all.

78 thoughts on “A Remortgage – What is It?”

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    1. yeah it is confusing. Most people I know think that remortgage and refinance is different from each other but these two terms just tell the same concept. some home buyers decide to apply for a refinancing when they plan to have a home improvement. It is always necessary to consider your financial capacity if you are going to get a remortgage. Holmdel Homes for Sale

  3. I guess, Remortgage is synonymous with refinancing. One should consider remortgage/refinancing if they think that the market condition is suitable. Home buyers should really think about this real hard so they will not regret refinancing.
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  4. Remortgage or refinancing can be an advantage or a huge help for home buyers. if you want a home improvement or renovation, you can always apply for a refinancing supporting a home improvement loan. Home buyers can really take advantage of this option if they know how to use it correctly.

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  6. In the US, the housing crisis bottomed out in 2012. Four years later, lending restrictions are easing up and we’re seeing an increase in refinancing. Has there been a similar trend in the UK with ‘remortgaging’ and are we headed for another bubble circa 2008?

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