Remortgaging
Remortgage and rate-switch advice
When a mortgage deal ends, you usually move to the lender's standard variable rate, which can cost more. Reviewing your options in good time gives you more choice.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Staying or switching lender
A product switch with your current lender can be simpler, often without new legal work. Moving to another lender, a remortgage, may offer different options but involves new checks and possibly fees.
Neither is automatically better. The right choice depends on rates, fees, your circumstances and plans.
When to start
Many lenders let you secure a new deal several months before your current one ends. Starting early gives time to compare without rushing.
Borrowing more
Some people remortgage to release money for home improvements or other plans. Securing other debts against your home can increase the total you repay and puts your home at risk if you can't keep up repayments.
Common questions
When should I look at remortgaging?
Around three to six months before your deal ends is a sensible time to start, as many lenders let you reserve a deal in advance.
Will I pay a fee to leave my current deal?
If you leave during a fixed or discounted period, an early repayment charge may apply. Your mortgage documents show the amounts and dates.
Ready to talk it through?
Send an enquiry and Charlene will get in touch to understand your plans and explain what the next steps could look like.