Remortgaging
A remortgage is something most homeowners will go through multiple times before fully repaying their mortgage. When your current deal is coming to an end, it's the perfect time to explore your options — whether that's staying with your existing lender or switching to a better deal elsewhere.
When Can I Remortgage?
You can remortgage when your current mortgage's tie-in period is set to expire, typically within the next 4–6 months. Your new mortgage deal will usually begin the day after your existing one ends. It's also possible to remortgage earlier, but doing so may result in early repayment charges (ERCs) — fees charged by your current lender for leaving the deal before its official end date.
Can I Borrow More When I Remortgage?
Yes! If you have enough equity in your home and your income allows for extra borrowing, you may be able to release additional funds. Many homeowners choose to borrow more for home improvements, debt consolidation, or a deposit for another property. However, keep in mind that borrowing more will increase your mortgage balance.
How Much Will a Remortgage Cost?
A remortgage can come with some costs, depending on your lender and the product you choose. Potential fees include Early Repayment Charges, Admin/Deeds Release Fees (typically £0–£300), Arrangement Fees (£199–£2,000), Valuation Fees (£100–£500), and Conveyancing/Solicitor Fees. Many lenders offer deals with free valuations and legal services.
Work It Out In Seconds
Repayment Calculator
Enter a few key details to get an indicative monthly repayment figure for your new deal.
Your estimated monthly repayment
£1,228
Total interest paid
£168,452
Total amount repaid
£368,452
A remortgage isn't just about switching deals — it's an opportunity to save money, borrow more if needed, and secure better terms.
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