Remortgage Explained: Your Complete UK Guide

Key Takeaways

• A remortgage usually happens when your deal ends, or when you want to borrow more against your home.
• The best time to remortgage is about 6 months before your current deal finishes.
• Switching lenders often means you’ll need a solicitor and a property valuation.
• Remortgaging can help with lower rates, debt consolidation, or home improvements – but always weigh up the costs.
• The process feels similar to applying for your first mortgage, with checks on income, expenses, ID, and your property.
• Always check with a mortgage adviser to see if remortgaging is really the best move for you.

Watch our video breakdown here: What is a Remortgage?

What is a Remortgage in the UK?

In simple terms, a remortgage is when you move from one mortgage deal to another. This usually happens for two reasons:

1. Your current deal is ending
   • For example, if you’re on a 2-year fixed rate, you can start looking around 6 months before it finishes.
   • This is the most common remortgage situation in the UK.
2. You want to release extra money
   • Maybe for home improvements, debt consolidation, or other big expenses.
   • You can move to a new lender and borrow more against your property.

Why Should You Remortgage?

• To avoid moving onto a Standard Variable Rate (SVR): Most lenders’ SVRs are much higher than fixed deals.
• To save money: If better rates are available, switching can cut your monthly repayments.

Related reading: Why You Should Remortgage Early

When’s the Best Time to Remortgage?

• The golden rule: don’t wait until your current deal ends.
• The best time is around 6 months before your deal finishes, giving you time to line up your next move.
• This way you avoid being rolled onto the lender’s SVR.

Try our Mortgage Affordability Calculator to get an idea of what you could borrow.

Real-Life Case Study: How a Remortgage Solved a Debt Crisis

A client came to us really stressed. He had:

• Credit card debt at 22.5%
• Personal loans at 15.9%

The debt had piled up after funding a house extension. With only one job now (he used to do two), he was struggling to keep up.

He thought about doing a product transfer with his current lender. But that lender wasn’t even revaluing his property – which was a problem, because the extension had added £200,000 in value.

Here’s what we did:

• We carried out a debt consolidation assessment.
• Arranged a remortgage with a new lender that recognised the higher property value.
• Raised additional funds to clear his expensive debts.

The result:

• He saved £500 a month in interest.
• Cleared his credit cards and loans.
• Was left only with his mortgage, giving him breathing room every month.

This is a great example of why speaking to an adviser – and not just taking the first option – can make a huge difference.

Can You Remortgage Early?

• Normally, we don’t recommend it unless it clearly saves you money.
• Example: if you’re paying a very high rate now and a better one is available, it may be worth it even after early repayment charges.
• Best to let your adviser crunch the numbers for you.

How Often Can You Remortgage?

• There’s no rule that says you can only remortgage a certain number of times.
• But constant switching doesn’t usually make sense once you factor in solicitor fees and early repayment charges.
• For most people, the right time is:
  • When your deal ends.
  • Or when a switch from a variable rate to a fixed rate clearly saves money.

Should You Remortgage if Interest Rates Change?

• If rates go up: remortgaging might not help much.
• If rates come down: you could save money by switching.
• But it’s not always that simple – you need to compare savings against costs like solicitor fees and ERCs.

Related reading: Fixed Rate vs Variable Rate Mortgages

How Long Does a Remortgage Take?

• On average, 4–6 weeks if you’re moving to a new lender.
• But always allow extra time for checks and solicitor delays – we usually say plan 6 months ahead.

What’s the Remortgage Process?

1. Speak to a mortgage adviser.
2. Compare deals and check which ones you’re eligible for.
   • Example: if you’re newly self-employed, not every lender will accept you.
3. Once you’re happy, your adviser will apply with the lender and guide you through the process.

Do You Need a Solicitor?

• Yes if you switch lenders.
• No if you stay with the same lender (a product transfer).
• A word of caution: choosing a solicitor purely because they’re cheap can backfire if delays cause you to pay extra charges.

What Does a Solicitor Do in a Remortgage?

• Transfers your mortgage from one lender to another.
• Completes anti-money laundering checks.
• Updates the Land Registry.
• May do basic searches if required.

Do You Need a Valuation?

Yes – lenders want to make sure the property is worth what you say.

• Sometimes it’s a quick drive-by.
• Sometimes a computer-based AVM (Automated Valuation Model).
• Other times, a full inspection.

What Information Do You Need?

• Proof of income
• Outgoings
• ID documents
• Property details

It’s very similar to applying for a new mortgage.

How to Improve Your Credit Score Before a Remortgage

• Don’t miss payments.
• Use direct debits for bills.
• Keep credit card balances under control (ideally under 40%).
• Pay off in full where possible.

Related reading: What Credit Score is Needed to Buy a House in the UK?

Can You Remortgage for Home Improvements?

Yes – many clients do.

• Lenders may ask what you’re using the money for.
• Just remember, you’re adding debt to your mortgage, so think long-term.

Can You Remortgage to Consolidate Debt?

Yes – it’s called debt consolidation.

• It can make sense if you’re paying high rates (like credit cards at 20%+) and swap them for a mortgage rate of 4–5%.
• But be mindful – spreading that debt over 25 years may increase the total cost.

Related reading: Debt Consolidation Mortgages Explained

Can You Borrow for Energy-Efficient Upgrades?

Yes – many lenders now offer green mortgages.

• Some even have interest-free options to encourage you to improve your EPC rating.
• It’s always worth asking your adviser what’s available.

Final Thought

Remortgaging can be a smart move, but it depends on your timing, your circumstances, and the costs involved. The best step is always to start planning early and talk to an adviser about your options.

Suggested Internal Articles to Link

• Why You Should Remortgage Early
• Debt Consolidation Mortgages Explained
• Fixed Rate vs Variable Rate Mortgages
• What Credit Score is Needed to Buy a House in the UK?
• How Long Does a Remortgage Take in the UK?

Important FCA Warning
As a mortgage is secured against your home, it may be repossessed if you do not keep up the mortgage repayments.

Important Information: Your home may be repossessed if you do not keep up repayments on your mortgage. This guide is for general information purposes only and does not constitute financial or mortgage advice. Always seek independent, regulated advice based on your individual circumstances. Product availability, eligibility criteria, and terms may change. Information is correct as of September 2025.