Research 'three months before remortgaging'

By Jonathan Dawes, Mon 8 Sep 2008 - Published in Mortgages

People looking to remortgage should begin to research the market ahead of their current loan's conditions expiring, it has been suggested.

Stephen Noakes, marketing director at Cheltenham & Gloucester, said people can use comparison websites, a mortgage broker or simply walk down the high street to discover what new deals are on the market.

He explained: "There are a number of options which are available to them and the key encouragement is that they start early in that process and it's recommended to probably start about three months out."

Mr Noakes also pointed out that it is important for borrowers to understand their individual circumstances in order to identify which is the best deal for them.

According to the Council of Mortgage Lenders, in August 2008 there 11.74 million outstanding mortgages in the UK recorded in the first six months of the year.

In addition, there were 47,000 home loans approved in June 2008, compared to 52,000 in May and 98,000 in June of the previous year.

News Categories

News Archive

News: Research 'three months before remortgaging'