Time to think about remortgaging

Remortgaging could save you money and it pays to get prepared. In this guide we'll take you through everything you need to know. From what it is, how to work out if it could save you money and when is the best time for you to do it.

When should I apply?

It will, of course, take time to decide what is right for you and to complete and process your application; so start thinking about remortgaging about six months prior to the end of your current deal. Here, at Yorkshire Building Society, your mortgage offer will be valid for six months so if you apply early you can be safe in the knowledge that you’ve got your mortgage offer and, therefore interest rate, in place and ready to transfer at the end of your mortgage deal (without going on to SVR or leaving your deal too early and being subject to early repayment charges).

Even if you don’t take advantage of the full six months, it is recommended that you apply for your remortgage product at least two months prior to the end of your current deal. That way you should still have time to be able to switch over at the end of your current deal.

For more information on remortgages and how to apply for one with Yorkshire Building Society visit our remortgages page.

[i] Full review available at https://www.fca.org.uk/publication/market-studies/ms16-2-3-final-report.pdf