Stay with your lender
A product transfer — quick, usually no new affordability check, no legal work. Convenient, and always worth comparing before you accept it.
Remortgage
When a deal ends, the lender’s standard rate takes over.
When your deal ends, your lender moves you to its standard variable rate. Starting six months early costs nothing and usually saves a great deal.
No client fee · No obligation
Your three options
Know all of themMove to a new lender
A full remortgage. More paperwork, often a better rate, and free legal work is common on remortgage deals.
Borrow more
A further advance from your existing lender, or a larger remortgage elsewhere. We compare both, because they rarely cost the same.
Fix ending reminder
Tell us when your deal ends. We will be in touch six months before.
Most lenders let you secure a new rate around six months before your current deal ends. Leave it late and you may move onto your lender’s standard variable rate. One short form now, and our team contacts you in good time to review your options.
- One reminder, six months before your fixed or tracker rate ends
- No cost and no obligation to go ahead
- Stop the reminder at any time with one reply
When to start
Six months outSix months before your deal ends
We review what you have, what is available, and whether an early repayment charge makes waiting sensible.
Secure an offer
Most offers can be held for up to six months. If rates fall before completion, we will check whether your lender will let us move you.
Completion on the day your deal ends
The new deal starts as the old one finishes, so you never touch the standard variable rate.
And then we come back
Before the next one ends. That is the whole point of having an adviser rather than a one-off transaction.
The new deal starts as the old one finishes, so you never touch the standard variable rate.
What else can change
While you are at itThe term
Shorten it to clear the mortgage sooner, or lengthen it to bring the monthly payment down. Both have a cost, and we will show you the numbers.
Who is on it
Adding or removing a person is possible at remortgage, subject to affordability. Common after a marriage, a separation, or a family arrangement.
Raising money
For home improvements, or to consolidate expensive credit. Consolidating unsecured debt into a mortgage secures it against your home and usually costs more overall — we will say so if it does.
Think carefully before securing other debts against your home. Consolidating debt into a mortgage may reduce your monthly payments but can increase the total amount you repay over the term, and the debt becomes secured on your property. Your home may be repossessed if you do not keep up repayments on your mortgage.
Straight answers
Remortgage questionsWhat is a standard variable rate?
The rate your lender moves you onto when a deal ends. It is set by the lender, can change at any time, and is almost always higher than a new deal.
Will I need a new valuation?
Usually the lender values the property remotely. A physical visit happens only where the property or the loan size calls for it.
Is there a fee for legal work?
Most remortgage deals include free standard legal work or a cash contribution towards it. Where they do not, we will tell you before you choose.
Can I remortgage with a lower income than before?
Sometimes. Affordability is assessed again, but staying with your existing lender on a product transfer often avoids that assessment entirely.
Deal ending within six months?
Tell us when it ends and we will tell you what is worth doing — including doing nothing, if that is the answer.
More in Mortgages
Where to next
Chosen for this pageGUIDE
Your fixed rate is ending
The six-month timetable, and why doing nothing is the expensive option.
Read this next GUIDEFixed, tracker or variable
Not which is cheaper. What you are buying, and what it costs to get out.
Read this next ON THIS SITEThe overpayment calculator
What a little extra each month takes off the term and off the total interest.
Read this nextSwipe across to move between pages