Question 1

When should I start looking at remortgage options?

Accepted Answer

Most UK lenders allow you to lock in a new deal up to 6 months before your current fixed rate ends. Starting early gives you time to compare options and avoid rolling onto your lender's standard variable rate (SVR), which is usually significantly higher.

Question 2

How much could I save by remortgaging?

Accepted Answer

Savings depend on your current rate, new rate, balance and term. A 1% rate cut on a £200,000 mortgage over 25 years saves roughly £100–£120 per month. Use our remortgage calculator for a tailored estimate.

Question 3

Will I have to pay early repayment charges if I remortgage now?

Accepted Answer

Most fixed-rate deals carry an Early Repayment Charge (typically 1–5% of the balance) that tapers down each year of the fix. Whether it's worth paying depends on the savings of switching now vs waiting until the ERC period ends.

Question 4

Can I borrow more when I remortgage (capital raise)?

Accepted Answer

Yes — remortgaging is a common way to raise capital for home improvements, debt consolidation or property investment, subject to affordability and equity. Lenders typically need to know the purpose of the additional borrowing.

Question 5

Does my credit score have to be the same to remortgage?

Accepted Answer

No — many lenders re-assess on application. A modest dip is usually fine if your repayment history with the existing lender is clean, but a major change (CCJ, default, missed mortgage payments) will narrow your options to specialist lenders.

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