When to Remortgage
Timing is everything. Find out the best time to start looking for a new mortgage deal to avoid falling onto expensive standard variable rates.
The 6-Month Rule
You don't need to wait until your current mortgage deal has completely expired to start looking for a new one. In fact, most mortgage offers are valid for up to six months.
This means you can secure a new rate half a year before your current deal ends. If interest rates rise in the meantime, you've locked in a cheaper deal. If rates fall, we can simply apply for a new, cheaper rate before your switch goes ahead.
4 Common Reasons to Remortgage
Your Deal is Ending
If your fixed or tracker rate is about to expire, you will be moved onto your lender's Standard Variable Rate (SVR), which is usually much higher. Remortgaging prevents this payment shock.
Interest Rates Have Dropped
If market rates are significantly lower than what you are currently paying, it might be worth remortgaging. We can calculate if the savings outweigh any Early Repayment Charges (ERCs).
Your Home Value Has Increased
If your property has gone up in value, your Loan-to-Value (LTV) ratio will be lower. Lower LTVs unlock much cheaper interest rates from lenders.
You Want to Borrow More
Remortgaging allows you to release equity from your home to fund home improvements, pay off other debts, or use as a deposit for a second property.
The Remortgage Process
Switching your mortgage is simpler than you think. Here is how we guide you through it.
The 6-Month Review
We start looking at your options 6 months before your current deal ends to lock in a rate early.
Market Comparison
We compare your current lender's 'retention' deals against the entire market to find the absolute best value.
The Recommendation
We provide a clear recommendation based on interest rates, fees, and your long-term financial goals.
Application & Valuation
Once you're happy, we submit the application. Most remortgages include a free basic valuation from the lender.
Legal Processing
A solicitor (often provided free by the lender) handles the transfer of the mortgage charge.
Completion & Switch
The new mortgage starts the day your old one ends, ensuring you never pay the expensive standard variable rate.
Is your deal ending soon?
Don't wait until the last minute. Get in touch with us today, and we can lock in a competitive rate for you up to 6 months in advance.
Start Your Remortgage