When your current deal approaches expiry, it’s important to review your options early.
We assess whether switching to a new lender or securing a product transfer with your existing lender is the most suitable route factoring in rates, fees, early repayment charges and your wider plans.
Clear comparison. Structured advice. No last-minute decisions.
Remortgaging isn’t simply about chasing a lower rate. It’s about reviewing your current position and making sure your mortgage still works in line with your goals.
You may wish to remortgage if:
Your current fixed or discounted deal is ending
You want to secure a more competitive rate
You need to raise capital for home improvements or other purposes
You would like to reduce your term or restructure your mortgage
Your property value has increased, improving your loan-to-value position
The key is timing and structure not simply switching for the sake of it.
We begin by reviewing your current mortgage, including:
Rate and expiry date
Early repayment charges
Outstanding balance
Current loan-to-value position
This allows us to assess whether acting now or waiting until a specific date is more financially sensible.
From there, we compare options across new lenders and your existing provider to determine the most suitable route.
This may involve:
A full remortgage to a new lender
A product transfer (rate switch) with your current lender
Raising additional borrowing
Restructuring the term
Our role is to ensure the recommendation aligns with your financial goals and not just focus on the headline interest rate.
As your mortgage balance reduces and your property value changes, your loan-to-value (LTV) ratio may improve.
Lower LTV bands can provide access to more competitive pricing. We assess whether waiting, switching early or restructuring makes financial sense before recommending a move.
If you need to raise capital, for home improvements or other purposes, we assess whether this is best achieved through:
Additional borrowing with your existing lender
A full remortgage
Or an alternative structure
All additional borrowing is subject to affordability and lender criteria.
Staying with your current lender can sometimes be the most efficient option.
A product transfer may involve less paperwork and no legal process, although we will still compare it against the wider market before recommending it.
If you used the Help to Buy Equity Loan scheme, remortgaging can involve additional steps.
Whether you are keeping the loan in place or redeeming it, we coordinate with your lender and the Help to Buy administrator to ensure the process is managed correctly.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1%, but a typical fee is £495 depending on your circumstances.
As a directly authorised and independent firm, we assess mortgage options across a broad range of lenders, including specialist providers for more complex circumstances.
Most mortgage offers are valid for up to six months, so it’s often sensible to begin reviewing your options around six months before your current deal ends.
Starting early allows time for underwriting and any required legal work, helping to ensure your new rate is ready when your existing deal expires. We’ll also check for any early repayment charges and confirm the most suitable timing for your circumstances.
In some circumstances, your current lender may grant consent to let, allowing you to rent out your residential property for a period of time.
Each lender’s criteria differs, and approval is not guaranteed. Consent to let is usually intended as a temporary arrangement.
If you plan to rent the property on a longer-term basis, you will typically need to remortgage onto a Buy-to-Let or Let-to-Buy product.
It depends on your circumstances and objectives.
Staying with your existing lender through a product transfer can sometimes be quicker and involve less paperwork or legal work. However, it may not always provide the most competitive overall outcome.
In most cases, affordability is assessed in the same way, based on income and outgoings.
That said, lender criteria can differ, and some may apply slightly different policies to remortgage cases.
Subject to lender criteria and affordability, you may be able to apply for additional borrowing with your existing lender either during your current fixed period or when your deal comes to an end.
Additional borrowing is typically assessed as a new application and may be placed on a separate rate with its own terms.
Possibly, subject to lender criteria and affordability.
Some lenders allow term changes at the time of a product switch, although this may require an affordability reassessment and must fall within the lender’s age limits and policy guidelines.
It may be possible, depending on the type, severity and age of the adverse credit.
Some lenders will consider applicants with missed payments, defaults, CCJs or historic credit issues, subject to deposit levels and affordability.
In a standard remortgage, Stamp Duty Land Tax (SDLT) is not payable, as there is no change of ownership.
However, if the ownership structure changes, for example, adding or removing a party from the title, Stamp Duty may be payable depending on the value of any consideration or mortgage debt being transferred.
Often yes subject to affordability and lender approval.
Adding a party involves a transfer of equity, which may trigger Stamp Duty and additional solicitor costs.
A mortgage creates long-term financial commitments, so protecting your income and household finances should form part of the overall plan.
Life insurance, critical illness cover and income protection can help ensure mortgage payments and other commitments remain manageable if your circumstances change.
We will always discuss protection as part of the mortgage advice process to ensure the right safeguards are considered.
