Remortgaging: When to Start and What to Expect
Timing your remortgage right can save you thousands. Here's a straightforward guide to the process and what to watch for.
When should you start thinking about remortgaging?
The best time to start is around 6 months before your current deal ends. Most fixed and tracker rates revert to your lender's standard variable rate (SVR) once the introductory period finishes — and SVRs are typically much higher. Starting early gives you time to compare the market without pressure.
Your three main options
When your deal ends, you generally have three paths:
- Switch to a new deal with a new lender — often the cheapest route, as new-customer rates tend to beat existing-lender offers.
- Stay with your current lender on a new deal — known as a product transfer. It's quicker, simpler, and usually doesn't require a full affordability check or a new valuation.
- Do nothing and move to the SVR — almost always the most expensive option, and best avoided.
Product transfer vs full remortgage
A product transfer is the easy option — less paperwork, no legal work, and you keep the same lender. But it's only worth it if the rate is competitive. We compare your current lender's offer against the rest of the market so you know whether staying is genuinely the best move.
What about borrowing more?
If you're remortgaging, it can also be a good time to raise additional funds — for home improvements, consolidating debts, or helping a family member. Borrowing more means a fresh affordability assessment, and we'll help you weigh the cost against the benefit.
What you'll need
To get started, it helps to have:
- Your current mortgage statement
- Recent payslips or accounts (if self-employed)
- An idea of your property's current value
- Details of any changes to your income or outgoings
How we help
We look at your current deal, check what's available across over 50 lenders, and give you a clear recommendation. If a product transfer with your existing lender is best, we'll say so — we're not tied to switching for the sake of it.
This article is general information and not personal advice. Your home may be repossessed if you do not keep up repayments on your mortgage.