This could be the article for you if you are thinking of remortgaging

If you already have a home with a mortgage you should find it reasonably straightforward to remortgage. The problem is that the choice of mortgage deals is vastly reduced compared to the variety five or six years ago. The lower interest rates mean that there are some good deals in the marketplace but you will probably find that you need a high percentage of equity in your property to be able to benefit from them.

You may find that lenders are offering good fixed rate deals. The general rule of thumb is that the shorter the deal, the closer the fixed rate will be to the base rate. If you want to play it safe and weather the storm knowing that your monthly mortgage cost will not change this could be the route to take. If however you prefer to live life a little on the edge, you could go for a variable rate deal which tracks the interest rates. Whilst no doubt this will give you a low mortgage payment right now, remember that the only place for rates to go right now is up.

An independent financial advisor such as JRS Financial Services is a real help when it comes to remortgaging. They should advise you on the different products, the amount of money you should really be looking to borrow and help you fill out the paperwork, applying on your behalf. The best bit is that you don't pay them; they get a fee from the lender.

You could also visit one of the large lending companies such as HSBC or Natwest, or a product comparison website such as moneysupermarket.com or moneysavingexpert.com and see what is on offer.