Remortgaging simply means moving your existing mortgage to a new deal — either with your current lender or a new one. Done at the right time, it can save you a significant amount each month.
Why it matters
When your current deal ends, you usually roll onto your lender's Standard Variable Rate (SVR), which is often much higher. Lining up a new deal before that happens is one of the simplest ways to protect your monthly budget. Our rate-rise calculator shows the difference a rate change makes.
When to start looking
Around three to six months before your current deal ends. Many new deals can be secured in advance, so you're ready to switch the moment your existing rate finishes — with no gap on the SVR.
What it can cost
Watch for an early repayment charge if you leave your current deal early, plus any arrangement fee, valuation and legal fees on the new deal. We weigh these against your savings so the numbers genuinely stack up. Our remortgage calculator gives you a quick estimate.
Borrowing more
Remortgaging can also be a way to release funds — for home improvements, for example — subject to affordability and your lender's criteria. We'll help you decide whether it's the right move.
Frequently asked questions
When should I start looking at remortgaging?
Around three to six months before your current deal ends, so you can secure a new rate before slipping onto your lender's higher standard variable rate.
Will remortgaging cost me anything?
There may be an arrangement fee, valuation and legal fees, and possibly an early repayment charge if you leave your current deal early. We weigh these against your savings.
Can I borrow more when I remortgage?
Often yes — for home improvements or other purposes — subject to affordability and your lender's criteria.
This guide is general information, not personal advice. For a recommendation based on your circumstances, get in touch.