Remortgaging is a concept that is fairly new in South Africa. It involves taking your mortgage 'back out into the market' so that banks, including your current bank can compete for the business you have to offer them.
 
There are various reasons people decide to remortgage, it could be to get a better interest rate, take advantage of a new product that's on the market or to get more money.
 
When you first took out your mortgage, ten, five or two years ago, your situation might have been completely different to what it is now. For example, maybe your salary has increased, your house price has doubled or your business is thriving, all of this will mean that you are a better risk client to the lenders, which means you can get your mortgage at a better rate.
 
We have partnered with a specialist remortgage broker to ensure you get the best deal out there. Follow the three steps below and you could be on your way to a better mortgage!