THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Remortgaging means switching your mortgage to another deal - often with another lender.

Most people switch mortgages because it will work out cheaper for them. For example, the introductory discounted interest rate may have finished with your current lender, and you might get a discount, or a lower APRC, with another lender.

Other people remortgage to consolidate their debts.

It is worth noting that a remortgage isn't always the best option. Even if the lender you are considering switching to is offering a lower APRC (Annual Percentage Rate of Charge), it doesn't necessarily mean you'll pay less overall.

For instance, the new lender may charge you for valuation and solicitors fees, even if you have already paid these for your mortgage with your current lender.

If you plan to switch mortgage, remember to look at the overall repayment period too. You may be able to pay less monthly, but check the final repayment date of the mortgage. It may be longer than your current deal.

Remortgaging doesn't always mean switching to another lender. You may be able to find a new mortgage deal with your current lender - and it may even work out cheaper to do so.

In fact, many lenders allow you to switch your mortgage deal quite frequently.

Securing short term debts against your home could increase the term over which they are paid and therefore increase the overall amount payable. You may have to pay an early repayment charge to your existing lender if you remortgage.

We generally charge a fee of £500 for advising and arranging your mortgage. We also get paid a procuration fee from the lender. In exceptional circumstances, the initial fee payable may be more or less than the fees detailed above. If this happens, we will explain the actual amount payable and the reasons why the fee is different. Once agreed, and before providing any services to you, we will confirm the actual total fee payable in our "Information about our mortgage and insurance services" document.