How to Remortgage: A Complete UK Guide
- isaiah373
- Jul 9
- 11 min read
Estimated reading time: 8 minutes
Author: Isaiah Newell CeMAP, Practice Principal
Published: July 2026 | Last reviewed: July 2026
If your fixed-rate mortgage is coming to an end, now is the ideal time to start reviewing your remortgage options. Waiting until the last minute could mean moving onto your lender's SVR, which may result in higher monthly repayments. This guide explains how remortgaging works, when to start the process and the key factors to consider when choosing your next mortgage.
Around 1.8 million fixed-rate mortgage deals are expected to come to an end during 2026, according to recent UK Finance industry data.
Table of Contents
1. Remortgaging at a glance
✓ Review your options around six months before your current deal ends. ✓ Consider the total cost of the mortgage, not just the interest rate. ✓ Check your credit report before applying. ✓ Understand any early repayment charges. ✓ Seek personalised mortgage advice before making a decision.
Example Scenario
Sarah's fixed-rate mortgage is due to end in five months. By reviewing her options, she has time to understand the total cost of each product and have a new mortgage ready before her existing deal finishes.
2. Why remortgaging matters
For many homeowners, the end of a fixed-rate deal is a key financial checkpoint. Your existing mortgage may have worked well for you when you first arranged it, but your needs, income, plans, or the wider mortgage market may have changed since then.
If your deal ends and you move onto your lender’s SVR, your payments may increase. The SVR is a rate set by the lender, and it can go up or down. It is usually higher than the rates available on fixed or tracker products, although this will depend on the lender and the wider market at the time.
That is why reviewing your mortgage before your current deal ends is often sensible. Acting early may give you more choice, more time to prepare, and less pressure as your end date approaches.
3. What remortgaging means
A remortgage is when you replace your current mortgage with a new one. This may be with your existing lender or with a different lender.
There are two ways to remortgage:
Product transfer
Full remortgage
4. When to start the process
A good rule of thumb is to start reviewing your options around six months before your current deal ends. Many lenders may allow you to apply for a new deal within that timeframe.
Starting early may help for several reasons:
5. Why borrowers remortgage
Remortgaging is not only about chasing the lowest possible rate. It is about finding a mortgage that fits where you are now.
Lower monthly payments
One of the most common reasons to remortgage is to reduce monthly costs. A lower interest rate may help, but so could changing the mortgage term. Extending the term may reduce monthly payments, although it could mean paying more interest overall.
Greater certainty
Some borrowers prefer the reassurance of a fixed rate. If budgeting is important to you, fixing your mortgage for a period may make your monthly outgoings easier to manage.
Raising additional funds
You may be able to borrow more against your property for purposes such as home improvements. Depending on your circumstances, this may be possible. Borrowing more will increase the amount you owe and may increase your monthly payments.
Moving away from the SVR
If you are already on your lender’s SVR, reviewing your options may be worthwhile.
Changing the mortgage term
You may want to shorten your term to repay your mortgage sooner, or lengthen it to ease monthly pressure. Both options have pros and cons, so it is important to understand the long-term cost.
6. How lenders assess a remortgage application
Even if you already have a mortgage, a new lender will usually assess your remortgage like a new application. That means they may review several areas before making an offer.
Income and affordability
Lenders will usually look at your income and outgoings to decide what is affordable. They may ask for:
payslips
bank statements
P60s
tax calculations and tax year overviews if you are self-employed
evidence of bonus, commission, overtime, or other income where relevant
Affordability is not based on income alone. Lenders may also consider:
credit commitments
childcare costs
household bills
dependants
regular spending patterns
future interest rate stress testing
Credit history
Your overall borrowing history may affect which lenders and products are available. Missed payments, defaults, county court judgments, payday loans, or high credit utilisation may reduce your options.
That does not always mean a remortgage is impossible. Some lenders may consider applicants with less-than-perfect credit, depending on your circumstances.
Loan-to-Value (LTV)
Your LTV is the size of your mortgage compared with your property value.
For example:
property value: £300,000
mortgage balance: £225,000
LTV: 75%
Lenders often price products in bands, such as 60%, 75%, 80%, 85%, and 90% LTV. If your LTV falls into a lower band, you may have access to more competitive rates. This is not guaranteed, but it can make a difference.
Property type and condition
Some properties are more straightforward than others. Flats, new builds, ex-local authority properties, non-standard construction homes, and certain leasehold arrangements may limit lender choice.
A lender may carry out a valuation to confirm the property value and assess whether it meets its lending criteria.
7. Steps that may help you secure a better deal
Securing a suitable remortgage often comes down to preparation rather than guesswork.
1. Know your key dates and figures
Before comparing deals, gather the basics:
your current balance
the date your existing deal ends
any early repayment charges
your current monthly payment
whether your lender charges an exit fee
whether you need to borrow more
These details help you compare like with like.
2. Check your credit file
It may help to review your credit report with the main credit reference agencies before you apply. Look for:
incorrect addresses
accounts that do not belong to you
missed payments recorded in error
high outstanding balances
linked financial associations that may no longer apply
Correcting errors early may improve how your application is assessed.
3. Consider your Loan-to-Value
If you are close to a lower LTV band, a modest overpayment could improve the deals available to you. This will not be right for everyone, especially if you need to keep cash available for other priorities, but it may be worth reviewing.
4. Look at total cost, not just the rate
A low headline rate does not automatically mean a better deal.
You should also consider:
cashback
the length of any incentive period
early repayment charges on the new product
Sometimes a product with a slightly higher rate may work out better over the chosen period.
5. Think about your plans
The right mortgage may depend on what you expect to do next.
Ask yourself:
Are you planning to move soon?
Do you want certainty over payments?
Might you make overpayments?
Do you need flexibility?
Will your income change?
Are you likely to repay the mortgage early?
If you plan to move in the near future, a long fixed rate with high early repayment charges may not be ideal.
6. Compare staying with your lender against switching
Your existing lender may offer a simple product transfer. This can be attractive because it may involve less paperwork and may not require full legal work.
But it is still worth comparing that option against the wider market. Another lender may offer a more suitable deal or features that better match your needs.
7. Get advice before you commit
Mortgage criteria can be detailed and sometimes inconsistent between lenders. Speaking with a mortgage adviser may help you understand what could be available and which route may suit your circumstances.
Need help comparing your options? Every mortgage is different. If you'd like tailored advice based on your circumstances, you can submit an enquiry and one of our advisers will be happy to help.
8. Product transfer or full remortgage
Both options can work well, but each has advantages and limitations.
Product transfer
A product transfer means staying with your current lender and changing to one of its new mortgage products. It can be quicker and simpler because you are not moving lender, but you will only be choosing from that lender's range.
Full remortgage
A full remortgage means moving to a new lender. This can give you a wider choice of products and features, but the process may involve more administration, legal work, and a fresh assessment.
There is no single right answer. The better route will depend on your priorities, your circumstances, and the products available at the time.
9. Costs and fees to consider
One of the most important parts of remortgaging is understanding the full cost.
Common fees may include:
Arrangement fee: charged by the lender for the new product
Booking or application fee: sometimes payable upfront
Valuation fee: some lenders include a free basic valuation, others may not
Legal fee: often covered on standard remortgages, but not always
Broker fee: if applicable, depending on the advice service used
Exit fee: charged by your current lender in some cases
Early repayment charge: may apply if you leave your current deal before it ends
Why fees matter
A product with a very low rate may still cost more overall if the fee is high. Equally, a fee-free deal may look attractive but have a higher monthly payment.
This is why it is important to compare the total cost over the period you expect to keep the product, rather than focusing on rate alone. If you want help weighing up fees, incentives and monthly payments, you can Submit an Enquiry for tailored advice.
10. When remortgaging may be more difficult
Some situations can make remortgaging more complex, but not necessarily impossible.
You have bad credit
If you have missed payments, defaults, or adverse credit, some lenders may still consider you. The rates available may be different, and the number of lenders may be more limited.
You are self-employed
If you are self-employed, lenders may want more evidence of stable income. This could include tax calculations, tax year overviews, company accounts, or accountant references, depending on the lender.
Your income has reduced
If your income is lower than when you took out your current mortgage, affordability may be tighter. A product transfer with your existing lender may sometimes be simpler, but this depends on the lender’s rules.
Your property value has fallen
If your property value has dropped, your LTV may be higher than expected. That could affect the products available.
You need to borrow more
Raising additional funds may be possible depending on your circumstances. The purpose of the additional borrowing may also matter.
If your case is more complex, getting tailored advice may save time and reduce unnecessary applications.
11. The value of expert mortgage advice
The mortgage market includes thousands of products, and the lowest advertised rate is not always the most suitable option.
A mortgage adviser can help you:
compare product transfers and full remortgage options
review the total cost of each product
understand lender criteria
identify any issues before applying
present your application clearly
manage the process from application through to completion
At Newell Mortgage Services, we focus on clear advice, tailored recommendations, and a stress-free process wherever possible. We take the time to understand your goals and explain your options in plain English, so you can make an informed decision with confidence.
12. How We Can Help
If your current mortgage deal is due to end within the next six months, now is the ideal time to review your options. Our advisers can compare your lender with the wider market and help you understand which solution is most suitable for your circumstances.
If you'd like personalised advice, submit an enquiry today and we'll be happy to help.
13. Summary
Remortgaging is often about planning ahead rather than reacting under pressure. Reviewing your options in good time may help you compare more effectively and make a decision that suits your needs.
Before you remortgage, it helps to:
check when your current deal ends
understand any early repayment charges
review your credit profile
look at your Loan-to-Value
compare total costs, not just rates
think about your future plans
seek advice if you want clarity and reassurance
A suitable remortgage may reduce your monthly payments, improve flexibility, or give you more certainty, depending on your circumstances.
14. Frequently asked questions (12 questions)
What is a Standard Variable Rate?
A Standard Variable Rate, or SVR, is your lender’s default mortgage rate. Please see Section 2 for a full explanation of how it works and why it matters when your current deal ends.
How early can I remortgage?
Many lenders may allow you to arrange a remortgage up to six months before your current deal ends. The exact timing will vary by lender and product. Starting early may give you more time to compare options and avoid moving onto the SVR.
Can I remortgage with bad credit?
You may be able to remortgage with bad credit, but your options could be more limited and the rates available may be higher. Much will depend on the type of adverse credit, how recent it was, and your overall circumstances.
What fees are involved in remortgaging?
Fees may include arrangement fees, booking fees, valuation fees, legal fees, broker fees, exit fees, and early repayment charges. Not every deal includes all of these, so it is important to compare the total cost carefully.
Do I need a solicitor to remortgage?
In many remortgage cases, legal work is still required, even if the process feels simpler than a purchase. Some lenders may include a basic legal service as part of the remortgage package. If you are staying with your current lender on a product transfer, a solicitor may not be needed.
Is it better to stay with my current lender?
It may be, but not always. Staying with your current lender can be quicker and simpler, but another lender may offer a more suitable deal. The best option will depend on rates, fees, flexibility, and your circumstances.
Can I remortgage to borrow more money?
Possibly. You may be able to raise additional funds for purposes such as home improvements, depending on your circumstances and the reason for borrowing.
Will remortgaging affect my credit score?
A remortgage application may involve a credit search, which could have a small impact on your credit file. Making multiple applications in a short period can sometimes be unhelpful, which is one reason why tailored advice may be useful.
What happens if my fixed-rate mortgage ends and I do nothing?
In many cases, your mortgage will move onto your lender’s SVR. That may increase your monthly payments and reduce payment certainty. Reviewing your options before your deal ends may help you avoid that outcome.
How long does a remortgage take?
A remortgage may take anywhere from a couple of weeks to several weeks, depending on the lender, your circumstances, whether legal work is required, and how straightforward the application is.
Is it worth remortgaging before my fixed rate ends?
In many cases, it is worth reviewing your options before your current deal ends. Whether it is worthwhile will depend on the rates available, any fees involved, and your individual circumstances.
What documents do I need to remortgage?
Lenders typically require proof of income (payslips, bank statements, P60s or tax returns), identification, and details of your current mortgage. Additional documents may be needed depending on your circumstances.
Information Correct at Time of Publication
Every effort has been made to ensure the information contained within this article is accurate at the time of publication. Mortgage products, lender criteria, interest rates, legislation and government schemes may change over time. The information provided is for general guidance only and should not be relied upon as personalised financial advice. If you would like advice based on your individual circumstances, please contact Newell Mortgage Services. Before making any financial decision, you should seek personalised mortgage advice based on your own circumstances.
Important Disclosure:Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage.
Newell Mortgage Services Ltd is an Appointed Representative of PRIMIS Mortgage Network, a trading name of First Complete Ltd. First Complete Ltd is authorised and regulated by the Financial Conduct Authority.
About the Author
This article has been written by Isaiah Newell CeMAP, Practice Principal at Newell Mortgage Services Ltd. Isaiah advises clients across the UK on residential mortgages, remortgages, new build purchases and protection, helping customers make informed mortgage decisions based on their individual circumstances.
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