Remortgaging in a shifting rate market

Remortgaging is rarely about chasing the very lowest rate. It''s about matching the right product to your circumstances — and timing the switch so you don''t fall onto your lender''s standard variable rate.

Start six months before your deal ends

Most lenders let you secure a new rate up to six months before your existing deal ends. This protects you against rate rises in the meantime — and if rates fall, your adviser can usually swap you onto a better product before completion.

Product transfer vs full remortgage

Staying with your current lender (a product transfer) is fast and often involves no legal work. But moving to a new lender (a full remortgage) frequently unlocks better rates, especially if your loan-to-value has improved.

Releasing equity safely

Remortgaging can release capital tied up in your home — for home improvements, school fees or other major costs. It''s straightforward to arrange but increases the size and term of your borrowing, so it should be approached carefully.

When to wait

If you''re mid-deal with hefty Early Repayment Charges (ERCs), it''s often better to wait. Your adviser can model the break-even point.