Could you get a better deal?

Remortgaging

If your current mortgage deal is coming to an end, or you're thinking about changing your lender, remortgaging could help you review your options and potentially secure a more suitable deal. We help homeowners understand their remortgage options and guide them through the process, whether you're looking to reduce your monthly payments, fix your rate, or release equity.

What is a remortgage?

A remortgage is when you switch your existing mortgage to a new deal, either with your current lender or a different one.

People remortgage for different reasons — here are the most common:

Fixed rate ending

Avoid rolling onto your lender's standard variable rate when your deal expires.

Looking for a better rate

Compare across 190+ lenders to see if a new deal could reduce your monthly payments.

Release equity

If your property has gained value, you may be able to borrow more for improvements or other needs.

Think carefully before securing other debts against your home. By consolidating your debts into a mortgage, you may be required to pay more over the entire term than you would with your existing debt.

When should you remortgage?

3–6 mo

Before your deal ends

Most people start reviewing their options three to six months before their current deal expires.

If your deal ends and you don't switch, you may move onto your lender's standard variable rate (SVR), which is often higher.

You may also consider remortgaging if your circumstances have changed, interest rates have shifted, or you want more certainty over your monthly payments.

Could you save money by remortgaging?

In some cases, moving to a new deal could reduce your monthly payments or provide more stability. It depends on current interest rates, your remaining loan amount, your property value, and any fees involved. It's important to consider the overall cost of the mortgage, not just the monthly payment.

Can you remortgage early?

It may be possible to remortgage before your current deal ends, but you could be charged an early repayment charge (ERC). Whether it's worth doing depends on the size of the charge, the potential savings from a new deal, and how long is left on your current mortgage. We can help you understand whether switching early may be suitable in your situation.

How much could you borrow when remortgaging?

When you remortgage, lenders will reassess your affordability, similar to your original application. The amount depends on your income and outgoings, credit history, loan-to-value (LTV), and property value. If your property has increased in value, you may have more equity, which can affect the deals available to you.

The remortgage process

Usually simpler than buying a property, since you already own your home:

1

Review your current mortgage

We'll look at your existing deal, when it ends, and any early repayment charges that may apply.

2

Compare available deals

We search across 190+ lenders to find options suited to your circumstances.

3

Submit a new application

We handle the paperwork and submit your mortgage application on your behalf.

4

Property valuation

The new lender may arrange a valuation of your property to confirm its current value.

5

Mortgage offer issued

Once approved, the lender issues a formal mortgage offer for you to review.

6

Switch completed

Your solicitor handles the legal transfer and your new deal begins.

We can guide you through each stage and help ensure everything runs smoothly.

Do you need a mortgage broker to remortgage?

You can go directly to your current lender for a product transfer, but this may not give you access to the wider market.

Going to your current lender

A product transfer is quick, but you're only seeing the deals that single lender offers — there may be better options elsewhere.

Through Monday Mortgages

  • Compare deals across 190+ lenders
  • Honest view on whether switching lender is worth it
  • Clear explanation of the costs involved
  • We handle the application and chase progress for you

How we help with remortgages

"We support you throughout the process, whether you're switching lender or reviewing your current deal."

From reviewing your current deal and expiry date through to identifying suitable lenders and guiding you through the application — we aim to make the process clear and straightforward.

Common remortgage scenarios we help with

If you're unsure whether remortgaging is right for you, we can talk through your situation and explain your options:

Fixed rate ending soonMoving off a standard variable rateBorrowing more for home improvementsChanges in income or employmentPrevious credit issuesReleasing equity

Ready to take the next step?

Speak to one of our expert advisers today. No obligation, no jargon — just honest, expert advice.

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