Don't miss your ideal remortgage deal

You’ll automatically move onto your lender’s Standard Variable Rate (SVR) if you don’t arrange a new deal. The SVR is typically 3-5% higher than the best mortgage deals available, though it allows you to pay off your mortgage anytime with no exit fee. Even if you plan to sell soon, avoiding the SVR almost always saves you money.

Your payments have increased because you’re now on the lender’s Standard Variable Rate (SVR), which is typically 3-5% higher than competitive mortgage deals. Getting advice on locking in a new deal quickly can bring your payments back down.

A product transfer (also called a rate switch) means taking a new deal with your current lender, while a remortgage means moving to a different lender. We check both options and recommend whichever saves you more money.

Most people should start looking 9 months before their deal ends. Mortgage offers are typically valid for 6 months, but starting 3 months earlier gives you valuable flexibility – Nationwide allows you to book a rate when you get an agreement in principle (valid for 90 days), which could save you money if rates are rising. The extra time also lets you properly plan for major changes like home improvements, extensions, or credit repair. That said, if you’re within 9 months already or rates have dropped significantly, talking to a mortgage adviser now makes sense.

Yes, you can normally switch to a better rate until two weeks before your new deal starts (depending on the lender).

Almost all mortgages let you leave penalty-free at the end of your fixed rate period, though some lenders charge a small admin fee. Many bigger lenders also allow penalty-free rate switches within the last three months of your deal. We check your specific terms and time everything to avoid unnecessary charges.

Not if you’re about to sell, move, or pay off your mortgage within a few months, as the SVR allows you to leave anytime. For longer periods, you’ll usually find cheaper deals – many lenders offer trackers with no exit penalties that give you flexibility at a lower rate.

Most people pay £100 or less to get a new mortgage deal. For rate switches, there’s typically nothing to pay – most advisers don’t charge, and almost all lenders cover legal costs. Remortgaging usually involves a small admin fee and bank transfer fee (around £100 total). If your mortgage is over £200,000, deals with fees (which can be added to your loan) often work out cheaper overall. Using your own solicitor instead of the lender’s free service typically costs a few hundred more than the cashback offered. Additional services like transfer of equity, specialist lending, or changing your borrowing amount may involve a few hundred pounds in fees.

Yes, your current lender will offer you access to their deals for existing customers regardless of your income (unless you’re in mortgage arrears). Accessing other lenders requires passing an affordability assessment similar to when you first bought your home.

Rate switches with your current lender don’t require an affordability assessment. Borrowing more, changing your mortgage term, or switching lenders triggers an assessment similar to your first mortgage – examining income, commitments, age, credit history, and typical spending patterns. Your loan-to-value (LTV) may now be lower (making you lower risk), but loan-to-income multiples for remortgages are typically 4.5x versus 5.5-6x for first-time buyers, though exceptions exist in this ever-changing market.

You can always stay with your current lender, even if you’re in negative equity (owing more than your property’s worth). You won’t lose your home, but you may face a higher LTV rate and potentially higher mortgage payments. Switching lenders becomes difficult in negative equity, and deals may be less attractive, though some lenders still offer fixed rates beyond their SVR.

Rate switches with your current lender are often instant, while switching lenders usually takes two to three months from application to completion, although we do see it happen in less than a month at times. Getting a mortgage offer takes anywhere from a minute to a month, depending on the lender and your circumstances. We’ll give you a realistic timeline for your situation and tips to speed things up if needed.

Yes for remortgaging, but not for a rate switch (product transfer). The solicitor handles due diligence for your new lender and updates the land registry. Most lenders offer free legal services or cashback if you use your own solicitor – the free option is usually cheapest unless your lender offers £500+ cashback, as you can get remortgage legals for less than that.

For most people, the stability and certainty of a fixed rate makes most sense. Variable rates often come without exit fees, making them great if you plan to move or pay off your mortgage soon. When markets expect falling rates, fixed deals are often priced more competitively than variable rates. Your choice depends on your financial situation, future plans, risk tolerance, and rate expectations – we’re always happy to talk through what works for you.

First check if you’re on the lender’s Standard Variable Rate – if so, speak to a mortgage adviser about locking in a cheaper deal. If you’re already locked into a new deal and still struggling, an adviser can help you explore options like extending your mortgage term or moving to interest-only temporarily. Your lender has specialist teams to work out longer-term solutions, though be aware that agreeing lower payments may register as an ‘Arrangement to Pay’ on your credit file (similar to a default), limiting your remortgaging options for several years.

Yes, this is the ideal time to review and adjust your mortgage term either up or down. Changing your term means many lenders will reassess your affordability, making it a more involved process than a straight rate switch.

Yes, as long as you pass the lender’s affordability assessment, stay within their loan-to-value limits, and they approve your reason for borrowing more. Lenders generally allow borrowing up to 85-90% of your property value for home improvements (some go to 95%), with favourable rates or cashback available for energy efficiency improvements. They’re typically less generous for debt consolidation or business funding.

Any formal borrowing application has a small, minor impact on your credit score that rarely affects other applications. Regularly paying your mortgage on time is one of the best things for your credit score, so homeowners typically see improved scores over time. Rate switches aren’t new credit applications so have no impact, though falsifying information like income during an application will severely damage your credit for at least 6 years.

Yes.

For a rate switch with a company who knows you (like your lender or previous adviser), you’ll need very little – just agreeing to terms and discussing future plans. Working with a new mortgage adviser requires ID verification and KYC compliance (at least one payslip and bank statement plus questions about your circumstances). Remortgaging to a new lender requires similar paperwork to your first mortgage – bank statements, payslips, tax returns, and address history verification.

Not normally, though you can usually still do a rate switch with your current lender. Some lenders allow you to switch to new deals even in arrears, while others use higher SVR rates as motivation to clear what you owe. Convincing a new lender you’re a safe bet is highly unlikely when in arrears, though some lenders assess everyone individually and will listen to your story – a good mortgage adviser can explore your options if your situation has improved.