Mortgages
Remortgage Advice UK: Do Not Just Accept the Renewal Letter
The letter from your lender offering a new rate is not a recommendation. It is the offer of one company that already has your business.
- Start 6 months early
- Product transfer compared
- £0 broker fees
- Whole of market
Free, no obligation, and no credit check to get started.
Remortgage advice UK homeowners benefit from starts by putting that offer next to the rest of the market and seeing whether it still looks good.
Sometimes it does. Often it does not, and the difference over a five year deal is measured in thousands. Either way the check costs you nothing.
When to Start Looking
Six months before your current deal ends. Most lenders will hold an offer for three to six months, so you can secure a rate early and still move to something better if pricing improves before completion. You get a floor without giving up the upside.
Leave it until the last few weeks and you risk slipping onto your lender’s standard variable rate, which is almost always the most expensive rate they offer.
Product Transfer or Full Remortgage
A product transfer means staying with your existing lender on a new deal. It is quick, involves little paperwork and usually no legal work, and sometimes no fresh affordability check.
A full remortgage means moving to a new lender. It takes longer and involves a valuation and legal work, but it opens the whole market, and it is the only route if you want to borrow more or move to a lender who treats your income more generously.
We price both, side by side, including fees.
Reasons People Remortgage
- The fixed rate is ending and the standard variable rate is waiting.
- Borrowing more for an extension, a loft conversion or a new kitchen.
- Releasing equity, whether to help a child with a deposit or to consolidate other borrowing.
- Changing the term, shortening it to clear the mortgage sooner or lengthening it to reduce the payment.
- Removing or adding a name after a change in circumstances.
- Moving from interest only to repayment before the term runs out.
Your Home Is Probably Worth More
Lenders price by loan to value, and the bands matter: crossing from above 85 percent to below it, or from above 75 to below, can move you into cheaper pricing. Several years of repayments plus any rise in the property’s value can quietly do that for you.
So the deal available now may be better than your last one even if headline rates have not moved.
Releasing Equity Carefully
Borrowing more against your home is straightforward to arrange and worth thinking about slowly. Adding 20,000 pounds of home improvements to a mortgage spreads the cost over decades, which lowers the monthly impact and raises the total interest paid.
You are converting short term unsecured debt into long term debt secured on your home. It can genuinely help, and it can also cost more over time. We will show you the total figure both ways before you decide, not just the monthly one.
If Your Circumstances Have Changed
Maternity leave, a switch to self employment, a drop in hours, a new baby adding childcare costs, or a credit blip during a difficult year: all of these change how a lender reads your application.
A product transfer often skips a fresh affordability assessment entirely, which makes it the practical answer when a full remortgage would be difficult. And lenders differ enormously, so a no from one is not the market’s answer.
Further Advance or Remortgage
If you want to borrow more, there are three routes. A further advance takes extra borrowing from your current lender on a separate product, leaving your existing deal untouched. A full remortgage moves everything to a new lender. A second charge is a separate loan secured behind your mortgage, occasionally right if your current deal is excellent.
We price all three, because the obvious answer is wrong often enough to be worth checking.
What It Costs
Our advice is free. Budget for an arrangement fee where the product carries one, a valuation which many lenders cover, and legal work which many remortgage deals include. Some products charge no fee but carry a slightly higher rate, which is better value on a smaller loan.
Check your existing deal for an early repayment charge before moving. If you are inside the penalty period, waiting is usually the right call and we will say so.
No paperwork and no credit check. An adviser calls you back with your real options.
Start nowor call 0117 370 6363Frequently Asked Questions
How early can I lock in a new rate?
Usually up to six months before your current deal ends. If rates fall before completion, we can often move you to the better product, so booking early carries little downside.
Will I need a new affordability assessment?
For a full remortgage to a new lender, yes. For a product transfer with your existing lender, often not, which is why a transfer can be the practical answer if your circumstances have tightened.
Can I remortgage if my income has changed?
Often, yes, though the route depends on the change. Self employment, contract work or a drop in hours narrow the lender list rather than closing it.
How long does a remortgage take?
Typically four to eight weeks for a full remortgage, and often a week or two for a product transfer.
Is a remortgage worth it for a small saving?
Not always, and we will tell you when the fees outweigh the gain. The comparison that matters is total cost over the deal period, including every fee.