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Remortgage Your Home With Confidence
A remortgage could help you secure a better rate, reduce your monthly payments, release equity or change the structure of your mortgage. We help you compare your options before your current deal ends.
What Is a Remortgage?
A remortgage means taking a new mortgage against a property you already own and using it to repay your existing mortgage. The ownership of your property does not change — only your lender, interest rate or mortgage terms may change.
Could Remortgaging Be Right for You?
Remortgaging can be worth considering when your current fixed or discounted mortgage deal is coming to an end, particularly if you want to avoid moving onto your lender's standard variable rate.
It can also be useful if your property has increased in value, improving your loan-to-value position and potentially giving you access to better mortgage rates.
Some homeowners also remortgage to raise capital, change their repayment structure, alter the mortgage term or make changes to the people named on the mortgage.
Current fixed or discounted deal is ending
Property value has increased
Looking for a better mortgage rate
Want to raise additional capital
Considering changing your mortgage term
Typical Remortgage Rates by LTV
Remortgage pricing varies according to your loan-to-value, mortgage term, lender and individual circumstances. Lower LTV bands generally provide access to more competitive rates.
How Does Remortgaging Work?
Starting early gives you more time to compare your current lender's offer against the wider market and decide which route is likely to work best for you.
Review Your Current Mortgage
Check your outstanding balance, current rate, deal end date and whether an early repayment charge applies.
Check Your Property Value
Establish an up-to-date estimate of your property's value so your current loan-to-value position can be assessed.
Compare Your Options
Compare a whole-of-market remortgage with your existing lender's product transfer offer, considering the total cost.
Decision in Principle
Where required, a decision in principle can provide an indication of how much a new lender may be prepared to offer.
Submit Your Application
Provide identification, income evidence, bank statements and details of your existing mortgage.
Property Valuation
The lender may arrange a desktop, automated or physical valuation to establish the property's lending value.
Underwriting & Offer
The lender assesses your application before issuing a formal mortgage offer if everything meets its criteria.
Legal Completion
Your solicitor completes the legal work and the new lender repays the existing mortgage before your new mortgage begins.
When Should You Start?
You do not need to wait until your current mortgage actually ends. Starting several months beforehand gives you time to understand your options and potentially secure a new rate.
Start Reviewing
Check your current balance, mortgage rate, deal end date and any early repayment charge.
Compare Rates
Review the wider market alongside your existing lender's product transfer options.
Apply & Secure
Complete the application process and secure a suitable mortgage rate where appropriate.
New Rate Begins
Your new mortgage completes and your new monthly payments begin under the agreed terms.
Costs to Consider
A lower mortgage rate does not automatically mean a cheaper mortgage. Always consider the fees involved and calculate the overall cost of changing deals.
Early Repayment Charge
Leaving a fixed or discounted deal early can trigger an ERC, potentially around 1–5% of your outstanding balance.
Arrangement Fee
Mortgage product fees can range from £0 to around £2,000, depending on the lender and product.
Valuation & Legal Fees
Valuation and legal costs may apply, although many lenders offer free valuations or contribute towards legal work.
Other Fees
You may also need to consider deeds release fees, Land Registry charges and any broker fee that applies.
Remortgage or Product Transfer?
Staying with your existing lender can be quicker and simpler, but switching lender could give you access to a wider range of rates and mortgage products.
Remortgage to Another Lender
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Access to a wider range of lenders
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Potentially more competitive rates
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May allow additional borrowing
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Full affordability and credit assessment
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Usually requires valuation and legal work
Product Transfer
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Stay with your existing lender
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Usually faster and simpler
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Generally no new affordability assessment
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Often no new valuation required
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Limited to your existing lender's products
Release Equity From Your Property
If you have built up equity in your home, you may be able to remortgage for more than your existing mortgage balance. The additional borrowing can potentially be used for a range of planned purposes.
Capital raising is still borrowing secured against your property, so the lender will assess affordability and the reason for the additional funds.
Home improvements and renovations
Debt consolidation where appropriate
Funding a property investment
Business or investment purposes
Other permitted capital requirements
Remortgaging When You're Self-Employed
If you're a business owner, a remortgage can involve more detailed income assessment than a straightforward employed application. Lenders may request two or three years of accounts or SA302s and assess income using net profit, salary and dividends.
Lender criteria can vary considerably. A change in declared profit, a new business loan or a recent change to your company structure may affect how much a lender is prepared to offer, even where your existing mortgage has always been paid on time.
The Lowest Rate Isn't Always the Cheapest Mortgage
A mortgage with a lower headline interest rate can still cost more overall if it carries a large arrangement fee. The right comparison should consider the total cost over the full fixed or discounted period.
Adding fees to your mortgage may reduce the amount you need to pay upfront, but you will then pay interest on those fees over the mortgage term.
It is also important to consider early repayment charges, your loan-to-value position and whether your circumstances could affect your eligibility with another lender.
Make Your Remortgage Work Harder
Switching mortgage is about more than finding a lower interest rate. We can help you understand the overall cost and compare the options available based on your circumstances.
Review Your Current Deal
Understand your balance, rate, deal end date and any early repayment charges.
Compare the Market
Look beyond your existing lender to see whether another mortgage could offer better overall value.
Calculate Total Cost
Compare rates alongside arrangement fees, legal costs and other charges.
Plan Ahead
Start early enough to give yourself time to secure a suitable mortgage before your current deal ends.
Let's Find the Right Remortgage for You
Whether you're looking for a better rate, releasing equity, changing your mortgage structure or simply comparing your options, we're here to help.