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Frequently Asked Questions

Get answers to common questions about remortgaging in the UK

Remortgaging means switching your existing mortgage to a new deal, either with your current lender or a different one. Homeowners typically remortgage to secure a better interest rate, release equity from their property, or change their mortgage terms. It's different from moving home – you stay in your current property but change your mortgage arrangement.

Consider remortgaging when your current fixed-rate deal is ending (usually 2-5 years), if interest rates have dropped significantly since you took out your mortgage, when you want to release equity for home improvements or other purposes, or if your property value has increased substantially. It's advisable to start looking 3-6 months before your current deal ends.

Remortgaging costs can include arrangement fees (£0-£2,000), valuation fees (£0-£500), legal fees (£300-£1,500), and potential early repayment charges on your current mortgage (typically 1-5% of the outstanding balance). Many lenders offer fee-free remortgage deals with free valuations and legal work, so it's worth comparing the total cost, not just the interest rate.

The remortgaging process typically takes 4-8 weeks from application to completion. This includes property valuation (1-2 weeks), underwriting and approval (1-2 weeks), and legal work (2-4 weeks). Starting early before your current deal ends gives you time to find the best rate and ensures a smooth transition.

While not mandatory, using an FCA-regulated mortgage adviser can help you access the whole market, find deals not available directly to consumers, and navigate the application process. Advisers can also calculate whether remortgaging is cost-effective for your situation and handle paperwork on your behalf. Many advisers offer free initial consultations.

When you apply for a remortgage, lenders will perform a credit check, which creates a small, temporary mark on your credit file. However, shopping around for quotes using "soft searches" won't affect your score. Once your new mortgage is in place and you make regular payments, it can actually help maintain or improve your credit rating.

What Our Customers Say

Real experiences from homeowners who found better remortgage deals

"The adviser found us a rate 0.5% lower than our bank offered. Over the term of our mortgage, that's saving us over £15,000. Absolutely worth the call!"

Sarah M.

Manchester

"I was nervous about remortgaging but the whole process was explained clearly. From application to completion took just 5 weeks. Highly recommend!"

James T.

London

"We released £30,000 equity for home improvements while still reducing our monthly payments. The adviser really understood our needs and found the perfect deal."

Priya K.

Birmingham

Your Complete Guide to Remortgaging in London

Understanding Remortgage Advice UK

Remortgaging is the process of switching your existing mortgage to a new deal, either with your current lender or a new one. In the UK, millions of homeowners remortgage each year to take advantage of better interest rates, release equity from their property, or simply find a deal that better suits their current financial situation. With mortgage rates fluctuating based on Bank of England base rate decisions and market conditions, timing your remortgage correctly can save you thousands of pounds over the life of your loan.

Current UK Remortgage Rates in 2026

As of 2026, UK remortgage rates are typically ranging from 3% to 5% depending on your loan-to-value ratio, credit history, and the type of rate you choose. Fixed-rate mortgages remain popular with homeowners seeking payment stability, while tracker and variable rates may offer lower initial rates with the trade-off of potential future increases. The best remortgage deals in the UK often come with competitive rates for those with significant equity in their property (typically 40% or more) and strong credit profiles.

Eligibility for Remortgaging

To be eligible for a remortgage in the UK, lenders will typically assess several factors:

  • Your current property value and existing mortgage balance (loan-to-value ratio)
  • Your income and employment status – most lenders require stable income proof
  • Your credit history and score – this affects the rates available to you
  • Your age and remaining mortgage term – some lenders have maximum age limits
  • Your monthly outgoings and financial commitments

Benefits of Working with a Mortgage Adviser

Working with an FCA-regulated mortgage adviser offers several advantages when remortgaging:

  • Access to the whole market, including exclusive deals not available directly
  • Expert guidance on the best products for your specific circumstances
  • Help navigating complex applications, especially for self-employed borrowers
  • Time savings – advisers handle paperwork and lender communications
  • Protection under FCA regulations, ensuring advice is in your best interest

Pros and Cons of Remortgaging

Advantages:

  • Potentially lower monthly payments with a better interest rate
  • Ability to release equity for home improvements, debt consolidation, or other needs
  • Opportunity to switch from variable to fixed rate for payment certainty
  • Chance to reduce your mortgage term and become mortgage-free sooner

Considerations:

  • Early repayment charges on your current mortgage may apply
  • Arrangement fees, valuation fees, and legal costs can add up
  • Extending your mortgage term means paying more interest overall
  • Your property will be used as security for the new mortgage

How to Get Started

Getting started with your remortgage journey is straightforward. Simply complete the form above with your contact details, and one of our FCA-regulated partner advisers will be in touch within 24 hours to discuss your options. There's no obligation, and the initial consultation is completely free. They'll review your current mortgage, discuss your goals, and search the market to find the best remortgage deals available for your situation.

Content reviewed by RAU mortgage specialists with 10+ years experience in UK residential mortgages. Last updated January 2026.

Important Information

This website provides general information only and does not constitute financial advice. Remortgage Advice UK is a matching service that connects you with qualified, FCA-authorised mortgage advisers. We do not provide financial advice directly and are not regulated by the Financial Conduct Authority.

Any mortgage advice you receive will be provided by independent, qualified financial advisers who are authorised and regulated by the FCA. They will assess your individual circumstances and recommend products suitable for your needs.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Think carefully before securing other debts against your home. The guidance and/or advice contained within this website is subject to UK regulatory regime and is therefore primarily targeted at consumers based in the UK.