Good times to remortgage
- Your fixed-rate deal is ending soon
- You want to avoid the standard variable rate
- Your property value has increased
- You want to borrow more
- You want a different mortgage term
Remortgage guide
When Should You Remortgage?
Many people start looking at remortgage options a few months before their current fixed or discount deal ends, so they can avoid moving onto a lender’s standard variable rate.
You can remortgage earlier, but early repayment charges, valuation, income checks, and new rates all affect whether it is worth it.
Reasons to wait
- High early repayment charges
- Your income has recently changed
- Your credit score needs improvement
- You are planning to move very soon
Start before your deal ends
Looking early gives you time to compare deals, check fees, apply, and line up the new mortgage before your current rate expires.
Watch the full cost
A lower rate is not always cheaper once product fees, legal fees, valuation fees, and exit charges are included.
What to compare before remortgaging
- Monthly repayment
- Total interest
- Product fee
- Early repayment charge
- Loan-to-value band
- Whether you want certainty or flexibility
Quick decision checklist
Look earlyAvoid being rushed onto SVR.
Compare total costFees can wipe out rate savings.
Check ERCsEarly repayment charges matter.
Think aheadMoving soon can change the decision.
Frequently asked questions
When should I start looking to remortgage?
Many people start looking a few months before their current deal ends to avoid moving onto a standard variable rate.
Can I remortgage early?
Yes, but early repayment charges may apply, so you need to compare any saving against the cost.
What happens if I do nothing when my mortgage deal ends?
You may move onto your lender’s standard variable rate, which can be more expensive than a fixed or discounted deal.
Does remortgaging require affordability checks?
Often yes, especially if you are moving lender or borrowing more.
Is a lower remortgage rate always better?
Not always. Fees and charges can make a lower-rate deal more expensive overall.
Can I remortgage with the same lender?
Yes. This is often called a product transfer and may involve less paperwork than moving lender.
Can I borrow more when remortgaging?
Sometimes. Lenders will check affordability, property value, and the reason for borrowing.
What costs should I compare?
Compare product fees, legal fees, valuation fees, exit fees, early repayment charges, and monthly repayments.