What does remortgaging mean?
Remortgaging simply means switching your mortgage — either to a new deal with your current lender or to a different lender altogether. People do it to get a better rate, borrow more, or change how long they have left to pay.
Most people remortgage when a fixed or discounted deal comes to an end, because once it does you usually fall onto the lender's standard variable rate — which often means paying more than you need to.
When should you start thinking about it?
Timing is the part most people get wrong, and it's the easiest to fix:
- Most fixed-rate deals last 2, 3 or 5 years — check when yours ends.
- Starting the process around three to six months before that date means no gap and no expensive standard variable rate.
- If you're already on your lender's standard variable rate, it's still worth a look — you can usually switch at any time.
Why people remortgage
There's no single right reason — it's about what your money needs to do next:
- Getting a better rate when your current deal ends.
- Borrowing more — for home improvements, a deposit for a family member, or other big plans.
- Changing the term, to pay the mortgage off sooner or bring the monthly payment down.
- Releasing equity that's built up in your home.
What does it cost?
Many remortgage deals come with a free valuation and free legal work, so switching can cost very little beyond your time. The thing to watch is early repayment charges on your current deal — if you leave partway through a fixed period, there's usually a fee. We'll always check the whole picture, charges included, before recommending anything.
How we help
We compare the whole market rather than one lender's shelf, keep track of when your deal ends, and do the paperwork so all you have to do is choose. If staying put turns out to be your best option, we'll tell you that too.
Common questions
How does remortgaging work?
In short: we compare your current deal with the alternatives, you choose, and the new mortgage pays off the old one. Most of the work is paperwork we handle — a valuation, some checks and new legal documents, which are often done for you as part of the deal.
How long does a remortgage take?
Typically four to eight weeks from application to completion, though a simple product transfer with your existing lender can be much quicker. Starting early means you're never rushed onto a worse rate.
Can you remortgage early?
Yes — but if you're still inside a fixed or discounted deal, you'll usually pay an early repayment charge. Sometimes it's still worth it, for example if rates have moved a lot; we'll do the maths with you before you decide anything.