Mortgages
Remortgage
Switching to a better deal, coming to the end of your current term, or borrowing against your home. A remortgage can do all three, and timing is everything.
Most people remortgage when their fixed or tracker period is about to end, to avoid moving on to the lender's standard variable rate, which is nearly always higher. Starting the search three to six months ahead means the new deal is ready the day the old one finishes.
A remortgage can also release money for home improvements or to consolidate other borrowing. That can make sense, but it turns short-term debt into a long-term one secured on your home, so we set out the full cost before you decide.
How it works
Remortgage, step by step
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Check the timing
We find out when your deal ends and what your lender will offer to keep you.
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Compare the market
Your lender's product transfer against every other option, with fees included in the comparison.
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Lock the rate
Many offers are valid for months, so we secure a rate early and switch if a better one appears.
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Switch
The new mortgage completes when the old deal ends, with no gap on the standard variable rate.
Good to know
Remortgage questions
When should I start looking at a remortgage?
About six months before your current deal ends. Offers usually last three to six months, so you can secure a rate early and still switch if rates fall before you complete.
What is a standard variable rate?
The rate your lender moves you on to when a fixed, tracker or discount period ends. It is set by the lender, can change at any time and is usually well above the deals on offer.
Can I remortgage to pay off other debts?
Sometimes, if there is enough equity and the lender agrees. It can lower your monthly outgoings, but you may pay more interest over the years and your home is the security. Think carefully before securing other debts against your home.
How much does WeSure charge?
Our broker fee starts from £495 and depends on your circumstances. We tell you the exact figure before you commit to anything, and lenders may also pay us a procuration fee, which we disclose.
Does asking for a quote affect my credit score?
No. Talking to us and getting an idea of what you could borrow involves no credit search. A lender only runs a search when you decide to apply, and we tell you before that happens.
Do you cover the whole of the UK?
We are based in London and advise clients across England, Wales, Scotland and Northern Ireland by phone and video. Most of the process happens online, so where you live rarely matters.
Ready to talk about remortgage?
Tell us a little about what you need and we will come back within one working day. No obligation, and nothing is applied for until you say so.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Think carefully before securing other debts against your home.
Our mortgage broker fee starts from £495. The exact fee depends on your circumstances and is agreed with you before you commit to anything.