Remortgage
Your current deal ending? We search the whole market to find you a better rate — and could save you hundreds of pounds every month.
Why Remortgage?
Remortgaging means switching your existing mortgage to a new deal — either with your current lender or a different one. There are many reasons why remortgaging could be the right move for you, from securing a lower interest rate to releasing equity from your home.
If your current fixed rate or tracker deal is coming to an end, you'll typically be moved onto your lender's Standard Variable Rate (SVR), which is usually much higher. Acting before this happens could save you a significant amount each month.
Reasons to Remortgage
When Should You Start Looking?
We recommend starting to look at your remortgage options around 3–6 months before your current deal ends. This gives you plenty of time to find the best deal and complete the process before you're moved onto your lender's SVR.
Many lenders will allow you to lock in a new rate up to 6 months in advance, so you can secure a competitive deal now even if your current deal doesn't end for a while.
💡 Tip: Even if you're not near the end of your deal, it's worth reviewing your mortgage regularly. If rates have fallen significantly, the savings from switching could outweigh any early repayment charges.
Types of Remortgage
Like-for-Like Remortgage
Simply switching to a better rate with a new lender without changing the loan amount. The most straightforward type of remortgage.
Capital Raising Remortgage
Borrowing more than your current outstanding balance to release equity from your home for home improvements, debt consolidation, or other purposes.
Product Transfer
Switching to a new deal with your existing lender. Often quicker and simpler, but may not always offer the best rates available in the market.
Debt Consolidation Remortgage
Consolidating unsecured debts (credit cards, loans) into your mortgage. Can reduce monthly outgoings but increases the total amount secured on your home.
Costs to Consider
While remortgaging can save you money, there are some costs to be aware of:
Important Information
Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your home. The guidance and/or advice contained within this website is subject to the UK regulatory regime.
Could You Save on Your Mortgage?
Find out how much you could save with a free remortgage review from one of our expert advisers.