Compare our best remortgage deals

When you remortgage with Uswitch, you'll be taken to our expert broker partner's site. We work with trusted, whole-of-market online brokers who are on hand to help you select the right deal and handle all the paperwork. They won't charge you a fee and can take the stress out of the remortgaging process.

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

If you choose to remortgage with the same lender, this is known as a product transfer. Because the lender already has all your details, product transfers tend to be quicker than remortgaging with a new lender. Some lenders offer digital product transfers which can be completed online in 15 minutes.

If you’re still locked into a mortgage deal, it’s likely you’ll have to pay an early repayment charge or ERC. An ERC is a penalty for leaving your existing mortgage deal early; it’s usually calculated as a percentage of the amount borrowed, which tends to decrease the closer to the end of the deal you get.

Paying an ERC to remortgage before your fixed-rate period comes to an end could negate any savings you would make, so make sure you calculate the costs carefully to decide whether it's worth it for you.

Yes, you can, although the process tends to be lengthier than transferring onto a new deal with your current lender. Providers usually offer better deals to existing customers, but you could still save by remortgaging with a different lender, so it’s worth comparing all the deals available.

The “hard” search a mortgage lender carries out on your credit report as part of deciding whether to lend to you in a remortgage can leave a small dent in your credit score temporarily, especially if there’s more than one because you’ve had to apply to a number of lenders before being accepted.

In the long term, though, making your remortgage payments on time each month will actually boost your credit score. 

Yes, you can, but the lender will usually want to see two to three years of accounts to decide whether you can afford to take out the remortgage and if you can, how much you can afford.

Yes, it’s certainly possible, depending on the level of your credit issue. There are bad credit lenders specifically intended to help people in these circumstances, although the remortgage rates tend to be higher.

If you’re concerned about your credit score, another option is to consider a product transfer. Your existing lender is unlikely to check your credit rating or affordability unless you’re increasing your loan amount or extending the term of your mortgage, so a product transfer can be an easier option. 

If you remortgage with a new lender, you will need to have a property valuation, much like you did when you took out the original mortgage. If you use a product transfer to remortgage with your current lender, you won’t usually need to have a valuation, however, you may need to if your house has dramatically changed in value.

Most lenders won’t need you to remortgage in order to change from an interest-only to a capital repayment mortgage deal with them. In fact, they will usually be happy for you to do this, as it reduces the risk to them.

If you wanted to change from a repayment to an interest-only mortgage your options would be reduced, as not all lenders are happy to offer interest-only mortgages for residential homes. The criteria are also much more difficult to meet.