So, prompted by another thread and trying to understand the world of mortgage rates here! In the past i've read that remortgaging when the introductory rate runs out can be a faff - affordability checks and the like - and sometimes you have to go onto the svr if you don't qualify under the new criteria.
But, as someone mentioned on mn on another thread, some lenders will allow you to switch to a new rate when the 'deal' runs out - online in 5 minutes, no hassle whatever.
So i think my question is - is there a difference between remortgaging and 'rate switching'? (Obviously you remortgage if you change lender or increase the loan, but i'm taling about when you stay with the same lender).
Thanks in advance to anyone who knows!
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The difference between rate switching and remortgaging
11 replies
Ireallydontseewhy · 19/08/2016 17:04
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