As with most financial products there are risks as well as benefits. Whereas the aim of remortgaging can be to reduce risk or reduce payments the mortgage market is a function of the local and world economy so can be impacted to the detriment. Examples of risk may be that if someone chooses to fix their mortgage so that they are not exposed to changes in interest rates for the period of their agreement then if interest rates go down then they will not benefit. Likewise if someone chooses a variable mortgage to avail of any interest rate cuts but then interest rates rise then their monthly repayments will increase. Not everyone’s situation or risk appetite is the same so we would encourage that you discuss the risks and benefits of your particular situation at the time with your mortgage advisor.