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Remortgaging

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You have a 57% loan-to-value (LTV). We found 3782 results for you
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Available in branch only.

Cumberland 2 year discount remortgage

Initial rate
1.08% for 2 years
Fees
£1999
APRC
3.7% overall cost
Monthly cost
£608.81 for 24 months
Enquire
Representative example:
Repayment mortgage of £160,000 over 25 years, representative APRC 3.7%. Repayments: 24 months of £608 at 1.08% (discount), then 276 months of £831 at 4.09% (variable). Total amount payable £182,400 which includes interest of £22,400. Arrangement Fee (£1,999) with an option to add to the loan. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.

Eligibility

You must meet the following criteria in order to get this loan:

Are resident of England

Are resident of Scotland

Are resident of Wales

Are older than 18 years

Available Direct.

Remortgage only.

Available in branch only.

Additional criteria may apply.

Lloyds Bank 2 year fixed remortgage

Initial rate
1.09% until 31 May 2023
Fees
£1499
APRC
3.3% overall cost
Monthly cost
£609.54 for 28 months
Enquire
Representative example:
Repayment mortgage of £160,000 over 25 years, representative APRC 3.3%. Repayments: 24 months of £609 at 1.09% (fixed), then 276 months of £791 at 3.59% (variable). Total amount payable £182,700 which includes interest of £22,700. Product Fee (£1,499) with an option to add to the loan. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.

Eligibility

You must meet the following criteria in order to get this loan:

Are resident of England

Are resident of Scotland

Are resident of Wales

Are older than 18 years

Available Direct.

Max age at term end: 80 years

Remortgage only.

Additional criteria may apply.

Lloyds Bank 2 year fixed cashback remortgage for people with an existing current account

Initial rate
1.09% until 31 May 2023
Fees
£1499
APRC
3.3% overall cost
Monthly cost
£609.54 for 28 months
Enquire
Representative example:
Repayment mortgage of £160,000 over 25 years, representative APRC 3.3%. Repayments: 24 months of £609 at 1.09% (fixed), then 276 months of £791 at 3.59% (variable). Total amount payable £182,700 which includes interest of £22,700. Product Fee (£1,499) with an option to add to the loan. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.

Eligibility

You must meet the following criteria in order to get this loan:

Are resident of England

Are resident of Scotland

Are resident of Wales

Are older than 18 years

Existing customers only.

Existing customer type: current account

Available Direct.

Max age at term end: 80 years

Remortgage only.

Additional criteria may apply.

Santander 2 year fixed cashback remortgage

Initial rate
1.14% until 02 May 2023
Fees
£1499
APRC
3.1% overall cost
Monthly cost
£613.19 for 27 months
Enquire
Representative example:
Repayment mortgage of £160,000 over 25 years, representative APRC 3.1%. Repayments: 24 months of £613 at 1.14% (fixed), then 276 months of £773 at 3.35% (variable). Total amount payable £183,900 which includes interest of £23,900. Product Fee (£1,499) with an option to add to the loan. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.

Eligibility

You must meet the following criteria in order to get this loan:

Are resident of England

Are resident of Scotland

Are resident of Northern Ireland

Are resident of Wales

Are older than 18 years

Available Direct.

Max age at term end: 75 years

Remortgage only.

Additional criteria may apply.

Santander 2 year fixed remortgage

Initial rate
1.14% until 02 May 2023
Fees
£1249
APRC
3.1% overall cost
Monthly cost
£613.19 for 27 months
Enquire
Representative example:
Repayment mortgage of £160,000 over 25 years, representative APRC 3.1%. Repayments: 24 months of £613 at 1.14% (fixed), then 276 months of £773 at 3.35% (variable). Total amount payable £183,900 which includes interest of £23,900. Product Fee (£1,249) with an option to add to the loan. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.

Eligibility

You must meet the following criteria in order to get this loan:

Are resident of England

Are resident of Scotland

Are resident of Northern Ireland

Are resident of Wales

Are older than 18 years

Available Direct.

Max age at term end: 75 years

Remortgage only.

Additional criteria may apply.

Santander 2 year fixed remortgage

Initial rate
1.14% until 02 May 2023
Fees
£1499
APRC
3.1% overall cost
Monthly cost
£613.19 for 27 months
Enquire
Representative example:
Repayment mortgage of £160,000 over 25 years, representative APRC 3.1%. Repayments: 24 months of £613 at 1.14% (fixed), then 276 months of £773 at 3.35% (variable). Total amount payable £183,900 which includes interest of £23,900. Product Fee (£1,499) with an option to add to the loan. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.

Eligibility

You must meet the following criteria in order to get this loan:

Are resident of England

Are resident of Scotland

Are resident of Northern Ireland

Are resident of Wales

Are older than 18 years

Available Direct.

Max age at term end: 75 years

Remortgage only.

Additional criteria may apply.

Santander 2 year fixed cashback remortgage

Initial rate
1.14% until 02 May 2023
Fees
£1249
APRC
3.1% overall cost
Monthly cost
£613.19 for 27 months
Enquire
Representative example:
Repayment mortgage of £160,000 over 25 years, representative APRC 3.1%. Repayments: 24 months of £613 at 1.14% (fixed), then 276 months of £773 at 3.35% (variable). Total amount payable £183,900 which includes interest of £23,900. Product Fee (£1,249) with an option to add to the loan. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.

Eligibility

You must meet the following criteria in order to get this loan:

Are resident of England

Are resident of Scotland

Are resident of Northern Ireland

Are resident of Wales

Are older than 18 years

Available Direct.

Max age at term end: 75 years

Remortgage only.

Additional criteria may apply.

Nationwide Building Society 2 year fixed cashback remortgage

Initial rate
1.14% for 2 years
Fees
£1499
APRC
3.3% overall cost
Monthly cost
£613.19 for 24 months
Enquire
Representative example:
Repayment mortgage of £160,000 over 25 years, representative APRC 3.3%. Repayments: 24 months of £613 at 1.14% (fixed), then 276 months of £792 at 3.59% (variable). Total amount payable £183,900 which includes interest of £23,900. Product Fee (£1,499) with an option to add to the loan. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.

Eligibility

You must meet the following criteria in order to get this loan:

Are resident of England

Are resident of Scotland

Are resident of Northern Ireland

Are resident of Wales

Are older than 18 years

Available Direct.

Max age at term end: 75 years

Remortgage only.

Additional criteria may apply.

Nationwide Building Society 2 year fixed remortgage

Initial rate
1.14% for 2 years
Fees
£1499
APRC
3.3% overall cost
Monthly cost
£613.19 for 24 months
Enquire
Representative example:
Repayment mortgage of £160,000 over 25 years, representative APRC 3.3%. Repayments: 24 months of £613 at 1.14% (fixed), then 276 months of £792 at 3.59% (variable). Total amount payable £183,900 which includes interest of £23,900. Product Fee (£1,499) with an option to add to the loan. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.

Eligibility

You must meet the following criteria in order to get this loan:

Are resident of England

Are resident of Scotland

Are resident of Northern Ireland

Are resident of Wales

Are older than 18 years

Available Direct.

Max age at term end: 75 years

Remortgage only.

Additional criteria may apply.

Skipton Building Society 2 year fixed

Initial rate
1.14% until 30 Apr 2023
Fees
£995
APRC
3.3% overall cost
Monthly cost
£613.19 for 63 months
Enquire
Representative example:
Repayment mortgage of £160,000 over 25 years, representative APRC 3.3%. Repayments: 24 months of £613 at 1.14% (fixed), then 276 months of £796 at 3.64% (discount). Total amount payable £183,900 which includes interest of £23,900. Completion Fee (£995) with an option to add to the loan. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.

Eligibility

You must meet the following criteria in order to get this loan:

Are resident of England

Are resident of Scotland

Are resident of Wales

Are older than 18 years

Available Direct.

Max age at term end: 80 years

Additional criteria may apply.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

What is remortgaging?

Remortgaging is the process of repaying an existing mortgage debt with a new mortgage. This is typically done to save money by paying a lower interest rate, or to raise money by borrowing against equity built up in the property. Either way, the aim is to find the best remortgage deal.

Why do people remortgage?

There are many good reasons to consider switching to a  remortgage deal. The two most popular reasons why people choose to remortgage are:

  • To save money - up to 800,000 borrowers are currently paying more than they need to on their mortgage. By remortgaging, you can lower your monthly repayments in two ways: by finding a lower remortgage interest rate or by increasing your mortgage term.

  • To raise money - releasing some of the equity in your home by moving to a new remortgage deal is a great way to fund home improvements that will add value to your property. Itcan also be useful if you need to consolidate existing debts such as overdrafts. You can switch to another lender or remortgage with the same lender, which can be a good option if it allows you to avoid paying penalty fees.

Most fixed rate and variable rate mortgages impose hefty fees if you pay them off early. So most people look to switch to a remortgage deal once their existing deal comes to an end and they have been moved on to their lender’s often uncompetitive standard variable rate (SVR). However, if interest rates fall a lot, it’s worth  comparing remortgage rates and monitoring the remortgage market to see if you can save money even after paying early repayment charges.

Can I remortgage my house?

Anyone with an existing mortgage can look into remortgaging - provided they - and their property - meet the criteria set by their potential new mortgage lender. You can choose to remortgage with the same lender; just contact your current mortgage lender and ask what remortgage deals are available to existing customers. Or you can compare current rates to find the lowest interest rate remortgage deals. 

Remortgaging can often make a big impact on your monthly outgoings - you could, for example, save more than £75 a month by negotiating down a £75,000, 25 year repayment mortgage from 3.5% to 1.5%.

It’s usually particularly worthwhile if you’ve come to the end of a fixed-rate period, or your discounted deal is coming to an end. While you can stay with your existing mortgage provider, you will probably be put on their standard variable rate (SVR), which is rarely the best deal around. 

When should I remortgage?

When your current mortgage deal comes to an end, you may have to make much higher repayments. It’s therefore best to start looking at other offers just before your deal comes to an end, so that you can make a smooth transition to a new deal. However, it’s always good to keep an eye on the market to make sure you get the best remortgage deals.

You may need to watch out for an early repayment charge, which is a penalty for leaving your current mortgage deal early - usually a percentage of the amount borrowed. Sometimes a remortgaging deal can make up for the early exit penalty, but it’s worth calculating how much you would have to pay over the remainder of your mortgage if you stay in your current deal versus switching to a remortgage deal (see below ‘Will I have to pay remortgage fees?’).

How long does it take to remortgage?

Remortgaging usually takes about a month, which is the time you need to complete all the paperwork and have a valuation conducted on your home. When the process is over, you’ll be notified with a completion statement from your lender.

Will I have to pay remortgage fees?

One of the most important things to check if you’re thinking about remortgaging is how much it will cost you to change lenders. If you’re still locked in to your existing mortgage, you’ll probably have to pay an early repayment charge or ERC. This could amount to a few months’ interest, so it’s important to check, as it could negate any savings you make by switching to a cheaper remortgage deal. Many mortgage companies also charge a standard fee for closing down a mortgage account, which is known as an exit fee. 

Other costs to bear in mind include the booking and arrangement fee for your new remortgage deal, as well as any legal and valuation fees. Arrangement fees alone often come to more than £1,000, especially on the best remortgage rates and deals. Advisers and mortgage brokers may also add a fee for their services in helping you secure a cheap remortgage deal.

How do I find the best remortgage deal?

When you’re looking to remortgage, you’ll need to have an idea of:

  • the estimated value of your home

  • the percentage of the value of the property you want to borrow (the LTV ratio)

  • your annual income and the income of anyone else who will be named on the mortgage

  • how much exactly you owe on your current mortgage; you can find this out by asking for a ‘redemption statement’ from your existing lender

You also need to decide why you want to remortgage, for example to save money or to release equity so you can use the cash for something else. Once you have this information to hand, you can compare the best remortgage deals on the market using our table above. Then all you have to do is choose which type of remortgage deal best suits your situation. The main options are:

  • Fixed rate mortgages - with a fixed-rate mortgage the interest rate is fixed for a set period of time, usually between 2 and 5 years. Fixed rate mortgages are good if you want the security of knowing exactly how much you will pay each month during that time. However, you will not benefit from any potential drop in interest rates.

  • Tracker mortgages - with a tracker mortgage, your mortgage rate is set at a percentage above the Bank of England’s base rate, so if interest rates go up or down your mortgage repayments will too.

  • Discount mortgages - with a discounted rate mortgage, your mortgage rate is set at a percentage below your lender’s standard variable rate and will also move up or down when it does.  

  • Offset mortgages - with an offset mortgage, your mortgage and savings account are combined, and the money you have in your savings account is counted as a temporary overpayment towards your mortgage, which could save you thousands in interest. However, offset deals are less common now than they were in the past.

How much can I borrow on a remortgage deal? 

Using a remortgage calculator makes it easy to compare deals and work out how much you can borrow on a remortgage deal. You can see the difference between the cost of your current deal and the lowest interest rate remortgages, and work out how much you can remortgage your house for. Check out our mortgage calculator to work out your LTV and compare current remortgage rates and how they will affect your monthly repayments.

Uswitch is authorised and regulated by the Financial Conduct Authority (FRN 312850) to provide this mortgage comparison service.

Uswitch services are provided at no cost to you, but we may receive a commission from the companies we refer you to.