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If your mortgage deal is coming to an end, Options Mortgage Services can help you find a new one.

First class service from an experienced team

Fully qualified by the Financial Conduct Authority

A well established team you can trust


Remortgaging is the process of taking out a new mortgage secured against your home, moving to a new deal and, frequently, a new lender. In most cases, this new loan is the exact amount required to clear the existing mortgage, transferring your debt from one lender to another. This is usually done in order to take advantage of a better deal with a lower interest rate, or to secure a fixed rate for a set period of time, avoiding the risk of interest rate increases. However, sometimes a remortgage can include additional borrowing to cover expenses such as home improvements, or to consolidate other debts into a single monthly payment.


If you’re considering remortgaging, or have another mortgage or insurance need, talk to the team at Options Mortgage Services in Reading. We offer mortgage advice for first time buyers, buy to let property owners and more. Our team has the expertise you need.

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While remortgaging can be an excellent option for many people, it isn’t always the most appropriate way to proceed. Even if you can access a lower interest rate by remortgaging, there are other considerations that you should bear in mind:


  • You may have to pay an early repayment charge to your existing lender if you remortgage.

  • The new lender may charge you for valuation and solicitors fees, even if you have already paid these for your mortgage with your current lender.

  • A longer repayment period may lead to paying more interest over the life of the mortgage. You may be able to pay less monthly, but that doesn’t mean your total costs will go down.

  • You may be able to switch your mortgage deal with your current lender, avoiding any unnecessary costs. Many lenders will allow you to switch your mortgage deal reasonably frequently.


Think carefully before securing other debts against your home.


Consolidating debt may reduce your outgoings now, however you may pay more interest over your mortgage term. Your home may be repossessed if you do not keep up repayments on your mortgage

There are other ways to manage debt such as free debt advice charities, you can find out more by contacting the Money Advice Service. These services may be more suitable for you.

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If you need mortgage advice from specialists, then Options Mortgage Services is here to help. We’re based in Reading, and our team can provide the expertise you need.

0118 954 1000

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