Remortgage Advice When Your Deal Ends, or Your Plans Change
Coming to the end of a fixed rate, looking to reduce your payments or wanting to release equity for home improvements? We compare your options across the market and handle the switch for you.
Don't Let Your Mortgage Drift
When a fixed or tracker deal ends, most mortgages automatically move onto the lender’s standard variable rate. That rate is usually much higher, and many homeowners pay more than they need to simply because they did not review their options in time.
People remortgage for many reasons:
To Secure a Better Rate
To Release Equity
To Change the Term
To Switch Repayment Type
To Add or Remove Someone
To Consolidate Debts
Most lenders allow you to secure a new deal up to six months before your current one ends, so the earlier you talk to us, the more options you will have.
Comparing Your Lender's Offer With the Market
When your deal ends, your current lender will usually offer you a product transfer: a new rate with the same lender, with little or no paperwork. Sometimes that is the best option. Often it is not.
A full remortgage to a new lender involves a new application, valuation and legal work, but can open up lower rates, better terms or additional borrowing your current lender will not offer. Many remortgage products include free valuations and legal work, or cashback, to offset the cost of moving.
We compare both routes side by side, including fees, rates and any changes to your circumstances, and recommend whichever gives you the best overall result. If your current lender’s offer is the right choice, we will tell you.
Putting the Value in Your Home to Work
If your property has increased in value or you have paid down a good part of your mortgage, you may be able to borrow more. Common reasons include extensions, loft conversions, new kitchens, helping children onto the property ladder or investing in a buy to let property.
Lenders will reassess your affordability and want to understand the purpose of the additional borrowing. We will help you weigh up whether remortgaging, a further advance from your current lender or a second charge loan offers the best value, taking early repayment charges into account.
Debt consolidation. using your mortgage to pay off other debts can reduce monthly outgoings, but it may increase the total amount you repay, as debts are spread over a longer term. It also converts unsecured debts into debt secured on your home. We will always talk this through carefully and only recommend it where it is genuinely in your interests.
Self-Employed, Retired or Changed Income?
Many people find their circumstances have changed since they last took out a mortgage. Perhaps you have become self-employed, started a limited company, gone part-time or are approaching retirement. Your current lender may not offer the best terms, or may not accept the change at all.
With our accountancy background, we are well placed to help clients whose income has become more complex. We know which lenders will assess it fairly and how to present it with confidence.
If your income has fallen or become less predictable, staying with your current lender on a product transfer may actually be the safer choice, as most do not reassess affordability. We will look at both routes honestly and recommend whichever protects your position best.
Frequently Asked Questions
When should I start looking at remortgaging?
Ideally three to six months before your current deal ends. Many lenders let you secure a rate that far in advance.
Will I have to pay an early repayment charge?
Only if you leave before your current deal ends. We will check your charges and work out whether switching early makes financial sense.
Is remortgaging expensive?
Many remortgage deals include free valuation and legal work. We will set out all costs clearly before you proceed.
Explore more of what we offer
Homeowner Mortgages
Interest Only Mortgages
Self-Employed Mortgages
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