I had not ever heard of this term. So I had to look it up and see what this was about. A remortgage is changing your mortgage without changing your home. You switch to another lender for a better rate which in the end saves your money. Sometimes you can change your deal with your current lender. I would not imagine that this happens often. If this is one way you can save money, then by all means save yourself some money. One word of caution there are fees to changing. So if by the time you end up paying the fees you are not saving, then there is no purpose to switching.
