Remortgaging
Is your current mortgage deal working as hard as it could? We'll search the whole market to find you a better option.
Remortgaging means switching your existing mortgage to a new deal — either with your current lender or a different one. It is one of the most effective ways to reduce your monthly outgoings, and millions of homeowners remortgage every year to take advantage of more competitive rates.
As independent advisers, we are not tied to any lender. We will compare deals from across the whole market and recommend the option that offers the best value for your circumstances — whether that means a lower rate, a longer term, or the ability to release equity.
Reasons to Remortgage
Secure a Better Rate
If your current fixed or tracker rate is coming to an end, you will typically revert to your lender's standard variable rate (SVR) — which is usually higher. Remortgaging to a new deal can significantly reduce your monthly repayments.
Release Equity
If your property has increased in value since you took out your mortgage, you may be able to release some of that equity as a lump sum — for home improvements, debt consolidation, or other purposes.
Change Your Mortgage Term
Remortgaging gives you the opportunity to extend or shorten your mortgage term — reducing monthly payments or paying off your mortgage sooner, depending on your priorities.
Switch to a Fixed Rate
If you are on a variable or tracker rate and want the certainty of fixed monthly payments, remortgaging to a fixed-rate deal can give you greater financial stability and peace of mind.
When Should You Start the Process?
We recommend starting to review your remortgage options around three to six months before your current deal ends. Many lenders allow you to secure a new rate in advance, so you can lock in a competitive deal without any gap in cover.
If you are currently on your lender's standard variable rate (SVR), it is worth reviewing your options now — you may be able to reduce your monthly payments immediately by switching to a new fixed or tracker deal.
Early Repayment Charges
If you are still within a fixed-rate or discounted period, leaving your mortgage early may incur an early repayment charge (ERC). We will check your current mortgage terms and help you calculate whether the savings from a new deal outweigh any exit costs.
SBC Financial is a trading style of Steven John O'Neill, who is authorised and regulated by the Financial Conduct Authority. FCA reference number: 997666. The information on this page is for guidance only and does not constitute financial advice. Your home may be repossessed if you do not keep up repayments on your mortgage.
Find out if you could save money by switching to a new mortgage deal — speak to one of our independent advisers today.
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