There are a number of occasions when it is prudent to review and perhaps re-new your mortgage arrangements. These include:
Changing Property values
As mortgages are related to the value of your property as the value rises it may be possible to increase the amount borrowed.
Mortgaging for flexibility
Some mortgages have more flexible conditioned payment terms which maybe come available to you as your financial status improves.
Mortgages to consolidate debt
If you have accumulated debt across credit cards and personal loans you may consider that the repayments may be reduced through consolidating them and adding to a mortgage. (It is important to be aware that whilst the interest rate maybe lower the term is often longer and there is always the risk around your home).
Whatever reason drives you to consider re-mortgage Informed IFA can help you make the right the decisions and give you a wide choice of options. In any case it is prudent to review your mortgage from time to time.