Deal ending
Review options before the current product expires so there is time to compare, apply and avoid an unnecessary period on the lender’s reversion rate.
Review your current mortgage
Compare staying with your current lender against moving to a new one. We review rates, fees, early repayment charges, mortgage term and any additional borrowing before recommending a suitable route.
Do more than compare rates
Remortgaging replaces your existing mortgage with a new deal, either with the same lender through a product transfer or with another lender. It may be considered when a fixed rate is ending, you want to change the mortgage term, release equity or review an interest-only arrangement.
A lower rate can still be less suitable once product fees, legal costs, valuation fees and early repayment charges are included. Advice should compare the total cost over the period you expect to keep the new deal.
Review options before the current product expires so there is time to compare, apply and avoid an unnecessary period on the lender’s reversion rate.
A product transfer can be simpler, while another lender may offer different pricing, criteria or flexibility. Both routes should be compared.
Subject to affordability and equity, a remortgage may release money for home improvements, another property purchase or another acceptable purpose.
You may wish to alter the term, repayment method, borrower names or product features, subject to advice and lender approval.
Make an informed comparison
The strongest option depends on what you are trying to achieve, not simply which product has the smallest headline rate.
Leaving the current deal early can create a charge. The saving or benefit from switching should be compared against that cost.
Adding a product fee to the mortgage avoids paying it upfront but means interest may be charged on the fee for the remaining term.
Additional borrowing increases the loan-to-value and repayment. The purpose, affordability and property value must meet lender criteria.
Income changes, self-employment, new credit commitments or missed payments can affect the lenders and products available.
The advice process
We gather the relevant facts, compare suitable routes and explain the costs and risks before you decide whether to proceed.
We check the balance, remaining term, current rate, deal end date and any early repayment charge.
We discuss whether the priority is payment certainty, lower cost, capital raising, term changes or another goal.
We compare the existing lender’s retention options with appropriate new-lender products and assess the overall cost.
Where you proceed, we help with the application, documents, valuation, legal process and communication through to completion.
Use the enquiry page and select the option closest to your plans. An adviser can clarify the route after reviewing the initial details.
Useful next steps
Common questions
It is sensible to start several months before the current deal ends. Product validity and lender rules vary, so the timing should be matched to your expiry date and circumstances.
A product transfer changes the deal with your existing lender without moving the mortgage elsewhere. A remortgage usually repays the existing lender and replaces it with a mortgage from another lender.
An initial enquiry does not itself create a credit search. Lenders may use soft or hard searches during an agreement in principle or full application, and this should be explained before proceeding.
Potentially. The amount depends on property value, mortgage balance, affordability, credit history, loan purpose and the lender’s maximum loan-to-value.
Past credit problems do not automatically prevent a remortgage. The type, amount, date and current status of the issue, along with equity and affordability, affect the available options.
It may be possible to repay eligible unsecured debts using additional mortgage borrowing. This can reduce monthly outgoings but may increase the total amount repaid if the debt is spread over a longer term.
Complete the short enquiry so the team can understand what you are looking to achieve and direct you to an adviser experienced in that area.
Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Consolidating debts may reduce monthly payments but can increase the total amount repayable.