Re-Mortgage
Getting a re-mortgage is something that almost all mortgage borrowers have to do, apart from those that make enough money to pay off their loans early, or those rare borrowers who choose long term fixed rate mortgages.
When re-mortgaging, you are switching your mortgage to another deal either with your existing lender or more often than not with another lender. Whether you have a fixed rate, discounted or tracker rate, your mortgage will likely be set at a special rate for a limited period of time. When this special period comes to an end, mortgage holders have to choose a new deal or their mortgage will revert to the lender's standard variable rate, usually considerably higher than the special deals.
Re-mortgage's can be used for various reasons, most people simply switch mortgage's because it will work out cheaper for them. Other individuals may use a re-mortgage to consolidate their debt's by applying for a larger amount than owed on the existing mortgage.


