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In the current economic climate you should only apply for a remortgage if you have the means as most lenders will only offer a LTV of 80% at the moment. However it should be easy to get a remortgage from your existing lender. Before you remortgage check whether early redemption charges apply to your existing deal, and if so, how much will be the cost. Exit fees are charges levied when you move to a new lender.

Try a mortgage broker they may be able to find the right mortgage for you. They will obviously charge for their services. However, they are bound by a code to treat customers fairly and are regulated by the Financial Services Authority.

There are different types of remortgages available. Make sure you understand the pros and cons of whichever type of remortgage you are interested in and also request the lender to explain the elements of the mortgage. The interest rate you will be paying and how long for, will it be fixed or capped rate etc. Remortgage may work in your favour depending if you manage to get a better deal. However, your repayment may increase depending on the size of your mortgage and the rate of interest. Do not forget that there may be a fee of around £1,000 on a new mortgage.

You can apply for remortgage as many times as you want. There is no limit how many times you can apply for remortgage, however you may be liable to pay early redemption charges if you are currently on a fixed, capped or discounted rate. It is better to look at for mortgage every year it is a kind of saving money if you get the right deal.