Remortgaging
Switch to better rates, release equity, or consolidate debts. Save thousands by remortgaging at the right time with expert guidance.
When should I remortgage my home in the UK?
The best time to remortgage is 3-6 months before your current fixed rate ends. This gives time to secure a new deal and avoid your lender's Standard Variable Rate, typically 1-3% higher. You can also remortgage to release equity, consolidate debts, or access better rates as your home value increases.
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When should I remortgage my home in the UK?
The best time to remortgage is 3-6 months before your current fixed rate ends. This gives you time to secure a new deal and avoid rolling onto your lender's Standard Variable Rate (SVR), which is typically 1-3% higher. You can also remortgage to release equity, consolidate debts, or access better rates if your home value has increased.
Remortgaging: Quick Summary
- •Start looking 3-6 months before your fixed rate ends
- •SVR rates are typically 1-3% higher—switching could save hundreds monthly
- •You can release up to 90% of property value minus current mortgage
- •Process takes 4-8 weeks; product transfers with same lender are faster
- •Many lenders offer free legal and valuation as switching incentives
Content reviewed: 13 January 2026
What is it?
Switching your existing mortgage to a new deal, either with your current lender (product transfer) or a different lender. Most people remortgage every 2-5 years when their fixed rate ends to avoid the expensive Standard Variable Rate (SVR).
Who qualifies?
- Homeowners with existing mortgages
- Those approaching end of fixed rate period
- Property owners wanting to release equity
- Those looking to consolidate debts
- Homeowners who've built significant equity
Typical deposit
No deposit needed—your existing equity serves as security. Many lenders offer up to 90% LTV remortgages.
Typical rates
Competitive rates similar to purchase mortgages. Product transfers often have lower fees but may not offer the best rates across the whole market.
Documents needed
- Current mortgage statement
- 3 months payslips or 2 years accounts
- 3 months bank statements
- ID and proof of address
- Property valuation (often arranged by lender)
Real Example
Situation: Homeowner with £150,000 remaining on £300,000 property, current 5-year fix ending, paying 2.5% about to revert to 6.5% SVR.
Outcome: Remortgaged to new 5-year fix at 4.2%, saving £230/month vs SVR. Released £20,000 equity for home improvements.
What Is Remortgaging?
Remortgaging means switching your existing mortgage to a new deal, either with your current lender (a 'product transfer') or a different lender. Most people remortgage every 2-5 years when their fixed rate deal ends to avoid rolling onto their lender's expensive Standard Variable Rate. If you have adverse credit or are self-employed, specialist remortgaging options are available.
Beyond getting a better rate, remortgaging allows you to release equity from your home (borrowing more based on increased property value), consolidate expensive debts into your mortgage at a lower rate, or adjust your mortgage term to reduce monthly payments or pay off your mortgage faster. Use our mortgage calculators to explore refinancing scenarios before applying.
With mortgage rates constantly changing, regularly reviewing your deal ensures you're always getting good value. Even small rate reductions can save you thousands of pounds over your mortgage term. We'll help you navigate the whole market to find the best remortgage deal for your circumstances.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Why Remortgage With Us
Switch to a better deal and potentially save thousands on your monthly payments and overall interest
Access the equity in your home for home improvements, debt consolidation, or other major expenses
Combine expensive debts into your mortgage at a lower interest rate, simplifying your finances
Switch lenders without penalties when your fixed term ends, ensuring you always get the best deal
Remortgaging Guide: Expert Tips
Everything you need to know about remortgaging successfully
The ideal time is 3-6 months before your current fixed term ends. This gives you time to find the best deal and avoid rolling onto your lender's Standard Variable Rate (SVR), which can be 1-3% higher. Many people remortgage every 2-5 years to continuously access the best rates. You can also remortgage early to release equity, though you may face Early Repayment Charges.
A product transfer means switching to a new deal with your existing lender—no legal work, often no fees, and quick to arrange. However, you're limited to one lender's products. Remortgaging to a new lender gives access to the whole market, often better rates, but involves legal work and potentially valuation fees. We'll compare both options to find the best deal for you.
Don't just look at the interest rate—factor in all fees. A slightly higher rate with low fees can be cheaper than a low rate with high arrangement fees, especially on smaller mortgages. Consider how long you'll have the deal. Calculate total cost over the fixed period including fees. Use the APRC (Annual Percentage Rate of Charge) to compare deals accurately.
You can typically borrow up to 90% of your property value minus your outstanding mortgage. For example, if your home is worth £300,000 and you owe £150,000, you could potentially release £120,000 (£270,000 total borrowing minus £150,000 owed). Only borrow what you need—remember you'll pay interest on it. Consider whether the purpose adds value or is essential.
If you're still in a fixed period, leaving early typically costs 1-5% of your outstanding balance. This can be thousands of pounds. However, if the rate savings are significant or you need to release equity urgently, it may still be worth it. We can calculate whether the benefits outweigh the ERCs. Once your fixed term ends, there are no ERCs for switching.
You'll need proof of income (payslips or accounts), bank statements, proof of ID and address, and details of any credit commitments. If your circumstances have changed since your last mortgage (new job, self-employment, credit issues), you may need additional documentation. Lenders will also revalue your property. Being organised speeds up the process significantly.
Remortgaging FAQs
Common remortgaging questions answered by our experts
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
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