Remortgage quite simply means switching from your current mortgage provider to another; this is normally done to achieve a better rate of interest and ultimately to save money.

It is also common to increase the amount of mortgage during the transaction, this is known as capital raising and the extra money for example may be used to pay for a conservatory, loft conversion or even to invest in a new business venture. Please note each lender has different criteria as to what they will allow capital raising for.

Remortgaging is often wrongly associated with getting into more debt or the solution to a bad situation. This is not true, Remortgaging should be considered as an excellent opportunity to save money or to enhance your home.

At Spectrum we have access to every possible Remortgage deal available and due to our independent status you can benefit from our research in order to obtain the best deal to meet your circumstances.

Remortgaging should definitely form an integral part of your ongoing financial planning and at Spectrum we are ideally positioned to find the best possible deal to fit your requirements.

A new survey will need to be carried out on your property and there will be a cost for this, however there is a number of packages that will either pay for or refund the cost. In addition there is a process known as "conveyancing" that you will need to go through. This is the legal process of transferring the current title deeds of the property from the existing lender over to the new lender. Again there is a cost attached to this, however these costs are borne by the new lender on a significant number of packages.