A remortgage is when you replace your existing mortgage with a new one, either with your current lender or a different lender. This is often done when a fixed rate is coming to an end, but it can also be used for a range of other reasons, such as raising funds for home improvements, repaying unsecured debts, buying out an ex-partner as part of a marital settlement, or simply moving onto a more suitable deal. In some cases, a remortgage can help reduce monthly payments, provide greater certainty through a new fixed rate, or allow you to restructure your borrowing to better suit your current circumstances.

You should consider remortgaging if:

• You’re on a standard variable rate
• Your current agreement is coming to an end
• You want to release equity from your property
• You’re on a high-interest rate
• You want to offset your savings
• Your property value has increased
• You want more flexible terms

Remortgaging at the wrong time may come with an early repayment charge. However, sometimes the cost may be subsidised by the reduced costs of the remortgage.

We have qualified mortgage advisers available to help and guide you through your remortgage and ensure you’re taking the best option for you and your situation.

To avoid early repayment charges and ensure a smooth transition, it’s best to start searching for a remortgage 3-4 months before your current deal ends. Our expert advisers can help you navigate the market and find the best rates available, without any hassle or stress. With access to a whole-of-market panel, we’ll compare products to ensure you get the best deal for your needs.

Certainly! Even if you have bad credit, there are still many affordable and competitive remortgage products available. Although you may not be eligible for the cheapest deals, our experienced advisers can assess your individual circumstances and help you find a suitable lender.