Mortgage and insurance services

 A remortgage is when you switch mortgage provider, usually to take advantage of a more competitive interest rate or borrow some additional funds. This type of finance is used to repay the mortgage on a property that you already own, rather than to buy a new one. 

Most people remortgage when they are approaching the end of their current deal – you can compare mortgage deals and usually lock in a new rate around six months before your existing deal term ends. If you're on your lender's standard variable rate (SVR), you can remortgage at any time without early repayment fees.  

 When you move house, you can often take your existing mortgage with you – this is known as porting your mortgage. It can be an easier option, but won't always be the cheapest, so make sure to look at the best mortgage rates that other lenders have available too.

Most, but not all mortgages are portable, so you may have no choice but to take out a mortgage with another lender if you're keen to move. Look out for early repayment charges (ERCs) and exit fees if you're still in a fixed-rate or introductory rate period, however.   

 A buy-to-let mortgage is to buy rental properties for investment purposes, so is typically only used by landlords. 

With buy-to-let mortgages, lenders base your borrowing on the potential rental income (or rental yield) of the property, rather than your personal income. 

You'll also need a higher deposit compared to a residential mortgage. Most lenders ask for at least 25% of the property value, although it can vary between 20-40%.