If your fixed-rate deal is ending — or has already ended — you could be paying hundreds of pounds more per month than you need to. Our FCA-regulated whole-of-market brokers search 90+ lenders to find your best remortgage rate.
Remortgaging isn't just about getting a lower rate — there are several situations where switching your mortgage makes financial sense.
When your fixed or tracker deal ends, your lender moves you to their Standard Variable Rate (SVR) — typically 1–2% higher. Switching immediately can save hundreds per month.
If your property has increased in value, remortgaging can release equity for home improvements, debt consolidation, or other major purchases — without selling up.
Roll higher-interest debts (credit cards, loans) into your mortgage at a lower rate. A broker will ensure this makes long-term financial sense before recommending it.
If your income has increased, remortgaging to a shorter term means you pay less total interest and own your home outright sooner.
If you're on a variable or tracker rate and worried about rising rates, locking into a fixed deal gives you payment certainty for 2, 5, or even 10 years.
Life changes — separations, new partners, or a family member coming off the deeds — all typically require a remortgage with lender consent.
| Outstanding Balance | SVR Rate (7%) | New Fixed Rate (4.2%) | Monthly Saving | Annual Saving |
|---|---|---|---|---|
| £100,000 | £694/mo | £490/mo | £204 | £2,448 |
| £150,000 | £1,040/mo | £735/mo | £305 | £3,660 |
| £200,000 | £1,387/mo | £980/mo | £407 | £4,884 |
| £300,000 | £2,081/mo | £1,470/mo | £611 | £7,332 |
| £400,000 | £2,774/mo | £1,960/mo | £814 | £9,768 |
Illustrative only. Based on 25-year remaining term, SVR of 7.0% vs new 5-year fixed at 4.2%. Actual savings depend on your LTV, credit profile, and lender. Early repayment charges may apply.
Remortgaging is simpler than a first purchase — no estate agent, no chain, and no stamp duty in most cases.
Start the process 3–6 months before your current deal expires to avoid early repayment charges and avoid falling onto the SVR.
Your broker compares 90+ lenders, identifies your best available rate, and checks for early repayment charges on your current deal.
Once your application is approved, the new lender issues a formal mortgage offer. Your solicitor handles the legal transfer.
Your new lender pays off the old mortgage and your new lower rate begins — typically within 4–8 weeks of application.
⏰ Timing tip: Most fixed-rate mortgages have Early Repayment Charges (ERCs) if you leave before the deal ends — typically 1–5% of the outstanding balance. Always check your ERC before starting the process. Many lenders allow you to lock in a new rate up to 6 months early with no penalty.
Compare SRA and CLC regulated solicitors for your remortgage legal work. Fixed-fee options available.
Challenge your lender's panel valuation with an independent RICS Red Book assessment.
Estimate your new monthly payments and see how much you could save by switching to a lower rate.