Question 1

When should I consider remortgaging?

Accepted Answer

You should consider remortgaging when your current fixed-rate deal is about to end, when interest rates have dropped since you took out your mortgage, when your property has increased in value (giving you a lower LTV and access to better rates), or when you want to release equity. It is worth checking available deals six months before your current deal expires to avoid moving onto your lender's standard variable rate.

Question 2

What fees are involved in remortgaging?

Accepted Answer

Common remortgage fees include an arrangement or product fee (typically £500 to £2,000), a valuation fee, legal or conveyancing costs (£300 to £1,000), and potentially an early repayment charge on your existing deal if you are still within a fixed-rate period. Some lenders offer fee-free remortgage deals, though these may have slightly higher interest rates.

Question 3

How do I know if remortgaging is worth it?

Accepted Answer

Remortgaging is worth it when the total savings from the lower interest rate over the remaining term exceed the combined remortgage fees. Use our remortgage calculator to compare your current deal with a new one — it calculates the net saving after fees and tells you whether switching makes financial sense.

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