Come to us early, not the month it expires.
About six months before your fixed rate ends we can usually have the next deal lined up and waiting. Leave it until the month it runs out and your lender will quietly move you onto their standard variable rate, which is almost always a great deal more expensive.
Staying or moving
There are only really two choices, and the right one changes depending on how much you owe and what your current lender is willing to offer you.
- When to start
- Six months before your rate ends
- Why it matters
- The standard variable rate is usually far higher
- Two options
- Stay put, or move lender
- Our fee
- In writing before you commit
A product transfer
A new rate with your existing lender. Quick, usually no valuation and often no legal work. Convenient, but not automatically the cheapest.
A full remortgage
Moving the loan to a new lender. More paperwork, and it takes longer, but the whole market is open to you.
Borrowing more at the same time
If you are raising money for an extension or to consolidate, that changes which lenders will look at you and at what rate.
How we run a remortgage
Six months out, we diarise it
You do not have to do anything yet. We just need to know when your rate ends and who you are with.
We get your current figures
Outstanding balance, the end date, and any early repayment charge if you moved before it finishes.
We compare the transfer against the market
Your lender's offer is the benchmark. We only recommend moving if moving genuinely wins on total cost.
We complete before the old rate ends
So you never touch the standard variable rate. That is the entire point of starting early.
Remortgage, answered
- What is the standard variable rate? The rate your lender moves you onto when your deal ends. It is set by them, can change whenever they like, and is usually a lot more than a fixed deal.
- Does remortgaging cost anything? Many remortgage products include free valuation and free legal work. Where fees do apply we show them in the comparison rather than hiding them in the rate.
- Can I borrow more when I remortgage? Often yes, subject to affordability and the value of the property. Tell us what it is for, because that affects which lenders will consider it.
- My circumstances have changed. Does that matter? It can. A new job, a business, a dip in income or a change in credit history all affect who will lend. It is a reason to start earlier, not to put it off.
- I am already on the standard variable rate. Is it too late? No. There is usually no early repayment charge on the standard variable rate, so you can normally move straight away.
How far ahead we start looking. Rates can usually be secured months before your current one ends.
If the market moves in your favour before completion, we check again and switch you to the better one where we can.
Request assistancePeople asking about this usually ask about these
Ask us about remortgage
Tell us where you are up to and an adviser will come back to you. The answers below just save us a phone call working it out.
- One of the five advisers on Eastfield Road, not a call centre.
- Usually the same working day.
- No obligation, and nothing to sign at the end of it.
Would rather talk now? Call 01733 602 033.
When does your rate end?
Tell us the month and your lender. We will do the rest and come back to you in good time.