How to remortgage and find the best quote.

Where to start:

Like most people you probably know how much you're paying each month on your mortgage but may not know what the interest rate you're paying or how much you still owe on your mortgage. You can find this information by calling your mortgage company and asking them to send you a redemption statement.

If your mortgage was taken out fairly recently you may be tied into a special rate mortgage deal which may have what is called 'tie-ins' These 'tie-ins' are also known as early redemption penalties (ERC's) and are effectively a penalty fee for moving mortgage while you're in this fixed or discount rate. Some mortgage companies even charge redemption penalties after the fixed or discounted rate has ended.

Check out the latest remortgage deals

If you're paying your lender's Standard Variable Rate, you need to shop around as you may be paying more than you should be particularly if you're with a non traditional mortgage lender such as the following:

- GMAC, GE Money, Preferred Mortgages, Southern Pacific Mortgages, Capstone Mortgages, Cheshire Mortgage Corp. Kensington Mortgage Co, Mortgage Express, Mortgages Plc, Platform Home Loans, Derbyshire Home Loans, Beacon Home Loans, Rooftop Mortgages, London Mortgage Company, Amber Home Loans, Capital Home Loans, Cifi Financial, Future Mortgages, Swift Advances, Topaz Finance, Mortgage Agency Services.

If you have a mortgage with any of these mortgage companies, it is vital that you check the mortgage market for the latest remortgage deals. More4 Loans can do this for you and prepare a no obligation remortgage quote for you to compare.

Compare the monthly costs or your mortgage with a new remortgage quote:

Once you've received your remortgage quote, from a whole of market search you then need to compare themto your existing deal.

Please make sure that you're comparing your remortgage quote like for like, in other words, if you have a repayment mortgage, you should compare with another repayment mortgage rather than an interest-only one, If you have say 20 years left to run on your current mortgage then you need to compare this with a new 20-year mortgagel.

Check any fees being charge:

Some mortgage companies may charge a fee for taking out a new mortgage. Additionally if you use a mortgage adviser or mortgage broker, they may also charge a brokers fee for providing the advise. They level of fees charged by mortgage companies varies according to the mortgage product and the level of broker fee charge by an adviser is varies according to their own fee scale. Some brokers will charge more than others.

If you need help:

If you'd like any help finding the best remortgage deals apply online now for a free no obligation quote.

Or to speak to a friendly mortgage advisers call free today on FREEPHONE 0800 0778956

More4 Loans are a loan and mortgage broker in Sheffield and we work with some of the UK's leading mortgage packagers to provide full UK coverage. So wherever you live in the UK, give us call and let us find the cheapest remortgage quote for you.

How to remortgage and find the best quote.

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