Hi I'm Eva, a mortgage advisor at Trussle.

Welcome to our quick guide on remortgaging.

Through our own research we've revealed that around 76% of the population don't really know what remortgaging is. 

So let me explain, remortgaging is when you swap your current mortgage deal for a new deal. 

When remortgaging you can opt to stay with your current lender, which is known as product transfer or move to a different lender. 

Whilst it could be more convenient to stay with your current mortgage lender don't forget to shop around as you could save thousands of pounds by switching.

There are also several other reasons to consider remortgaging your home. 

By moving on to a new deal you can avoid paying the lender's standard variable rate which is often much higher mortgage payments than when you're on a fixed term deal.

If you have enough value in your property you may want to consider releasing some equity.

It's important to discuss this with your broker if it's something you'd like to consider. 

But when is the right time to remortgage? 

For those of you on a fixed term deal it will be best to remortgage three to six months before your term is coming to an end. 

However, depending on how much your Early Repayment Charges are, it may be beneficial to remortgage sooner rather than later, especially if the interest you're currently paying will be more than the early repayment charge. 

Want to learn more about remortgaging? Just head to Trussle.com to sign up for free.