introducing our remortgage service

A remortgage is a significant financial decision, and it’s important to review your mortgage regularly. Most people don’t stay with the same mortgage product for the entire term, so switching to a new deal can better suit your current needs and finances.

This guide explains the remortgaging process and how we can support you every step of the way.

what is a remortgage?

Remortgaging is a process in which you, as a property owner, choose to renew your mortgage. This may happen when you’re approaching the end of your current mortgage deal, or if you’re shopping around for a better deal.

When remortgaging, depending on what deals are available to you, you may choose to get a product transfer or choose a new lender.

why remortgage?

• Your current deal is ending: Most mortgage deals offer lower rates for the first 2–5 years. After this, you’ll usually move to your lender’s Standard Variable Rate (SVR), which often means higher monthly payments.
• Access extra funds: If your current lender won’t offer a further advance, another lender might let you borrow more, allowing you to use the extra funds for things like home improvements, helping family, or consolidating debt.
• Life changes: Events such as marriage, children, inheritance, or divorce may mean you need a new mortgage arrangement.
• Pay off capital: If you have additional funds and want to reduce your loan, remortgaging could help, especially if your current lender limits overpayments.

A product transfer allows you to switch to a new mortgage deal with your current lender without the need for a full remortgage.

your remortgage options

Option 1: Switch to a better deal with our guidance

Our Mortgage Consultants can compare thousands of mortgages to find the right remortgage for your circumstances. If you’ve already paid a lifetime membership fee for our advice, we’ll continue to monitor your mortgage through our 24/7 monitoring tool to ensure you remain on the best possible deal.

Option 2: Switch to a new deal with your current lender

Your lender may have already contacted you about transferring to a new rate. While this can seem convenient, your lender can only offer their own products. Our Consultants, on the other hand, have access to thousands of deals for comparison, which include major high street and specialist lenders.

Option 3: Stay on your lender’s Standard Variable Rate

You’re not required to arrange a new deal. If you choose not to, you’ll move to your lender’s SVR at the end of your current deal, which usually means higher monthly payments.

key things to remember:

• Outstanding mortgage: Before applying for a remortgage, you’ll need to confirm your current mortgage balance with your lender. Our Consultants can help with this.
• Early repayment charges: Most mortgages have an Early Repayment Charge (ERC) during the initial benefit period. Remortgaging during this time may mean paying this charge. Check with your lender about any ERCs, their amount, and expiry date.
• Repayment mortgages: With a repayment mortgage, each monthly payment covers both capital and interest, gradually reducing your loan. By the end of the term, your mortgage will be fully repaid as long as you keep up with payments.

7 steps to remortgaging your home

1. your remortgage needs

Speak to our Mortgage Consultant to discuss your remortgage needs and requirements.

2. your protection needs

It’s important to have the appropriate insurance in place to protect you and your home. Speak to your Mortgage Consultant to discuss your protection needs and requirements.

3. your decisions

Our Mortgage Consultant will search through our panel of lenders and recommend an appropriate mortgage provider based on how much they are prepared to lend to you in principle, subject to status and lender criteria.

They will also provide their recommendation for a suitable conveyancer to manage your remortgage. Once all decisions have been made, your consultant will submit all paperwork to the relevant lender and insurer(s) to progress your application(s).

4. remortgage valuation

Your lender will arrange a valuation on your property. Speak to your Mortgage Consultant to find out more.

5. remortgage offer

Your remortgage and protection offer will be issued, subject to terms and conditions.

6. final checks

Speak to us to ensure all your remortgage and protection arrangements are in place before completion.

7. completion

All money is transferred, and your remortgage is now complete. Now would be the perfect time to plan ahead and put a Will in place if you haven’t done so already. Speak to your Mortgage Consultant to find out more.

types of mortgages available

Here are some of the most popular types of mortgages available.

fixed rate

Your payments are locked in for a set period (typically 2, 3, 5 or 10 years), regardless of what happens to the Bank of England Base Rate, so any interest rate rises won’t impact your fixed rate. You will not, however, benefit from any decreases in the base rate.

This gives you certainty for budgeting, but be aware of potential early repayment charges and arrangement fees.

You move on to your Standard Variable Rate at the end of the fixed rate period (unless you remortgage).

Be aware of payment shock: An increase in the payment on an adjustable-rate mortgage that may surprise the borrower at the end of an incentive period.

base rate

The Bank of England base rate influences the mortgage interest rates available to buyers. A higher base rate typically means more expensive mortgage products, while a lower base rate can lead to more competitive, affordable options.

variable rate

Your payments follow your lender’s Standard Variable Rate, which is usually based on the Bank of England Base Rate plus additional interest. While you’re unlikely to face arrangement fees or early repayment charges, monthly budgeting can be more difficult.

standard variable rate

A standard variable rate (SVR) is a type of variable-rate mortgage that you’re typically switched to when your current fixed-rate, tracker, or discount mortgage comes to an end, unless you decide to take out a new deal instead.

base rate tracker

Your payments track the Bank of England Base Rate plus additional interest. You’ll benefit from immediate rate reductions, but you’re also not protected from rate increases.

• Arrangement fees
• Early repayment charges (these are possible)
• Payment shock: An increase in the payment on an adjustable-rate mortgage that may surprise the borrower at the end of an incentive period.

before your current mortgage deal ends

When you use our remortgage service, you can become a Lifetime Member if you haven’t already. This gives you ongoing mortgage and insurance advice for life.

We’ll contact you again before your current deal expires by email, letter, or phone to arrange a remortgage appointment with one of our Consultants to discuss your future needs.

no repeated broker fees

If you paid the lifetime membership fee when we first arranged your mortgage, you won’t pay this again when remortgaging with us, just an administration fee.*

free 24/7 mortgage monitoring

We’ll check your mortgage against thousands of other rates from our panel of lenders until your current deal ends. This includes savings alerts, market notifications, and a ‘Mortgage Health Check’ email every 90 days.

Please note that you may have to pay an early repayment charge if you change to a new product before the end of your current deal.

ongoing support

Unless we find a better saving for you sooner, our Mortgage Services Team will contact you a couple of months before your deal expires to discuss your options and compare your existing deal to thousands of products from our panel.


 

* An administration fee applies on all product transfers, mortgage and remortgage transactions. Our fee structure is as follows: £99 for residential property customers. £149 for Buy To Let property customers. Please note: We reserve the right to change our administration fee process and descriptions without notice.

Any fees payable will be explained in your initial no obligation appointment,  before you choose whether to use our Mortgage Services.
Correct at time of publishing 18.02.2026
 MS/SEQ/8303/07.25