Why and when to remortgage
Most people remortgage when a fixed or initial rate ends, to avoid slipping onto the lender's higher standard variable rate. The best remortgage depends on your aim — a lower rate, releasing equity, or more flexibility. Start looking around six months before your current deal ends.
1. Remortgaging for a better rate
Switching to a new deal — with your current lender or a new one — to secure a lower rate. Best for borrowers coming off a fixed rate who want to cut monthly payments. Compare the rate and fees for the true cost.
2. Product transfer (staying with your lender)
A new rate from your existing lender with minimal paperwork and no new affordability check. Best for those who want a quick switch, have had credit changes, or whose circumstances make a full remortgage harder — though it may not be the cheapest.
3. Remortgaging to release equity
Borrowing more against your home's increased value for improvements, debt consolidation or other needs. Best for homeowners with equity and a clear purpose — see our ways to release equity guide.
4. Remortgaging for flexibility
Switching to a deal with overpayments, offset features or a different term. Best for borrowers whose needs have changed — e.g. wanting to overpay or shorten the term.
5. Remortgaging with changed circumstances
If your income, credit or property has changed, a whole-of-market remortgage finds lenders that fit your new situation. Best for the self-employed, those with new credit issues, or changed incomes.
Getting the best deal
- Start ~6 months before your current rate ends
- Compare the true cost — rate plus fees, not just the headline rate
- Weigh a product transfer (easy) vs full remortgage (often cheaper)
- Check early repayment charges on your current deal
How to find the best remortgage
A whole-of-market broker compares product transfers and full remortgages across the market for the lowest true cost. Find a remortgage broker through Nesto — free, no obligation.
Frequently asked questions
When should I remortgage?
Usually as your fixed or initial rate ends — start looking around six months ahead to line up a new deal and avoid the standard variable rate.
Is a product transfer or remortgage better?
A product transfer is quick and needs no new affordability check; a full remortgage is often cheaper. Compare both.
Can I release equity when remortgaging?
Yes — if you have equity and affordability, you can borrow more for improvements, consolidation or other needs.
Will I pay fees to remortgage?
Possibly — arrangement fees, valuation and legal costs, though many remortgage deals include free valuation and legals. Compare the true cost.
Can I remortgage if my circumstances changed?
Yes — a whole-of-market broker can find lenders that fit a new income, credit profile or property situation.