How to Get the Best Remortgage Deals?

Mandeep Singh
Sep 5, 2025
6 min read

Remortgaging is one of the most effective ways to save money, reduce monthly repayments, or unlock equity in your property. But with hundreds of lenders and thousands of deals on the market, finding the best remortgage can feel like navigating a maze. Whether you’re looking to cut costs, fund a renovation, or pay off debts, knowing how to secure the right deal makes a huge difference to your financial health.

In this article, we’ll dive into the ins and outs of remortgaging, highlight practical tips, and share insights that UK homeowners should know before making the leap.

Key Highlights

Start exploring remortgage options 3–6 months before your current deal ends.
Your credit score and equity play a major role in the rates available to you.
Don’t just focus on the lowest interest rate fees can make or break a deal.
Using a mortgage broker can unlock deals that aren’t directly available to borrowers.
Remortgaging smartly could save you hundreds per month and thousands over the term.

Understanding Remortgaging

Remortgaging is the process of switching your existing mortgage to a new deal, either with your current lender or a new one. Most UK homeowners remortgage when their fixed or discounted term ends, as lenders usually move you to a more expensive Standard Variable Rate (SVR).

But remortgaging isn’t just about avoiding higher rates. It can also help you:

Reduce monthly repayments.
Release equity for home improvements, investments, or personal expenses.
Consolidate debts into one manageable monthly payment.
Secure a different mortgage type, like moving from variable to fixed.

Think of remortgaging as spring-cleaning your finances as an opportunity to save money and make your mortgage work better for you.

Why Remortgaging Matters More Than Ever

With recent fluctuations in the Bank of England base rate, many borrowers are seeing higher repayments when their initial deals end. If you don’t shop around, you risk paying thousands more than necessary.

For example:

If you have a £200,000 mortgage, switching from a 6% SVR to a 5% fixed-rate deal could save around £167 per month or over £2,000 a year.

That’s why remortgaging isn’t optional, it's a financial strategy that every UK homeowner should actively consider.

Step-by-Step Guide to Securing the Best Remortgage Deal

1. Know When Your Deal Ends

Most fixed or discounted mortgages last 2, 3, or 5 years. Once this ends, you’ll move onto your lender’s SVR, which is usually 2–4% higher.Start shopping around at least 3–6 months before your deal ends to avoid being caught out.

2. Review Your Current Mortgage Details

Before you compare deals, get clear on your:

Outstanding balance.
Remaining mortgage term.
Current monthly repayments.
Early repayment charges (ERCs).
Any exit fees.

These details help you decide whether switching is worthwhile right now, or if it’s better to wait

3. Improve Your Credit Score

Your credit score directly affects the rates lenders will offer. Higher scores usually mean lower interest rates. To improve yours:

Pay all bills on time.
Reduce outstanding debts.
Register on the electoral roll.
Avoid applying for unnecessary credit before remortgaging.

Even small improvements can make a noticeable difference in the deals available.

4. Compare Interest Rates

Not all remortgage deals are created equal. Some popular options include:

Fixed-rate mortgages – predictable payments, ideal for budgeting.
Tracker mortgages – follow the Bank of England base rate, offering flexibility but with risk.
Offset mortgages – link savings to your mortgage, reducing interest charges.

The right choice depends on your goals whether you want certainty, flexibility, or the ability to pay off your mortgage faster.

5. Look Beyond the Headline Rate

A common mistake is choosing the lowest advertised interest rate without checking the fees. Costs can include:

Arrangement fees – sometimes £1,000 or more.
Legal and valuation fees.
Early repayment charges if you switch before your deal ends.
Exit fees when leaving your current lender.

Always compare the total cost over the deal period, not just the interest rate.

6. Calculate Your Loan-to-Value (LTV) Ratio

The Loan-to-Value (LTV) is the percentage of your mortgage compared to your property’s value. For example:

£150,000 mortgage on a £200,000 home = 75% LTV.

Lenders offer the best rates at lower LTV bands (e.g., 60%, 70%, 75%). If your property has increased in value or you’ve repaid a chunk of your mortgage, you might qualify for a cheaper deal.

7. Decide on Your Long-Term Goals

Ask yourself:

Do you want the flexibility to move house soon?
Do you plan to overpay your mortgage?
Do you prefer stability (fixed rate) or flexibility (variable)?

Your personal goals should guide your choice not just the cheapest deal available.

8. Consider Using a Mortgage Broker

Mortgage brokers often have access to deals that aren’t available directly to the public. They can:

Compare offers across multiple lenders.
Recommend products tailored to your needs.
Handle paperwork and save you time.

Many brokers are free (paid via commission from lenders), though some charge a fee.

9. Prepare the Right Documents

Lenders will usually require:

Proof of income (payslips or tax returns).
Bank statements.
Proof of ID and address.
Details of current mortgage.

Having these ready makes the process smoother and faster.

10. Avoid Common Remortgaging Mistakes

Leaving it too late and rolling onto the SVR.
Ignoring fees when comparing deals.
Not checking your credit score.
Locking into the wrong mortgage type for your needs.

Being proactive and thorough can prevent costly errors.

Keynotes

Start early: don’t wait until you’re already on the SVR.
Always check the total cost of a deal, not just the interest rate.
Lower LTV usually means better rates.
Mortgage brokers can unlock exclusive deals.
Remortgaging can save you thousands of pounds over time.

Did You Know?

Around 1.4 million UK homeowners are expected to remortgage each year as their fixed deals expire.
Even saving £100 a month by switching could put over £12,000 back in your pocket across a 10-year term.
Some lenders now offer green remortgage deals, rewarding energy-efficient homes with lower interest rates.

Key Takeaways

Remortgaging is one of the easiest ways to cut housing costs and free up cash.
Your credit score, LTV, and timing are crucial factors in securing the best deal.
Comparing rates without considering fees is a common mistake always check the full picture.
Expert advice can simplify the process and save money.

Get Expert Help with Your Remortgage

Navigating the remortgage market can be confusing, but the good news is you don’t have to figure it all out on your own. By working with a trusted remortgage advisor in Birmingham, like Ape Finance Remortgage Advice, you gain access to independent, tailored support designed to help you secure the very best deal for your situation.

Here’s why so many homeowners across Birmingham and the wider UK turn to Ape Finance:

Tailored advice that considers your personal financial circumstances and long-term goals.
Access to exclusive remortgage deals that aren’t available when going directly to lenders.
A hassle-free process, where the team takes care of the paperwork, applications, and negotiations on your behalf.
Transparent guidance every step of the way, ensuring you understand the true cost and benefits of your new mortgage.

Whether your aim is to reduce your monthly repayments, unlock equity for home improvements, or create greater financial security, Ape Finance, your expert remortgage broker in Birmingham makes the process smooth, simple, and stress-free.

FAQs About Remortgaging

1. When should I start looking for a remortgage?

Begin searching 3–6 months before your current deal ends to avoid rolling onto a higher SVR.

2. Do I need a good credit score to remortgage?

A higher score gives you access to better deals, but some lenders cater to those with lower credit ratings.

3. How much could I save by remortgaging?

Savings depend on your balance and rates, but many homeowners save hundreds per month and thousands over the mortgage term.

4. Can I remortgage to release cash? https://open.spotify.com/episode/5Uugx32med6vukFPnHajaY?si=Jb49vP8sSziKaTaBnAR8Dg&utm_source=chatgpt.com

Yes. Many homeowners remortgage to access equity for home improvements, investments, or debt consolidation.

5. Why should I use a broker like Ape Finance?

Brokers have access to exclusive deals, save you time, and guide you through the process often at no extra cost.

Want to get quick, expert insights on remortgaging while on the go? Tune into our latest episode for practical tips to help you save money, compare deals, and make smarter mortgage decisions.

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