Your mortgage deal won’t last forever. When the fixed or tracker period ends, most people get rolled onto their lender’s Standard Variable Rate (SVR) – and that’s usually more expensive.
Remortgaging is your chance to switch to a better deal, save money, or even release funds for other plans. Here’s what you need to know about remortgaging in 2025.
When Should You Remortgage?
Common reasons people remortgage include:
- Your fixed rate is ending – avoid getting stuck on a higher SVR.
- Raising money for home improvements – extensions, kitchens, or even a loft conversion.
- Debt consolidation – rolling higher-interest debts into your mortgage.
- Your home’s value has gone up – this can unlock better rates with lower loan-to-value (LTV).
? Example: If you bought a home in Belfast in 2020 for £160,000 with a 10% deposit, and it’s now worth £200,000, your LTV has dropped. That means you could access lower rates when you remortgage.
Why Remortgaging Can Save You Money
Most SVRs sit around 6–8% in 2025. Compare that with fixed rates that can be closer to 4–5%, and the savings add up quickly.
Even a 1% difference in your rate could save hundreds of pounds per month on repayments – money that could go back into your pocket, not the bank’s.
The Remortgage Process (Step by Step)
- Review your current deal – check when it ends and if any early repayment charges apply.
- Compare new offers – we can check over 90+ lenders to get the best deals.
- Get an Agreement in Principle (AIP/MIP) – we’ll handle this for you.
- Submit your application – with updated income and property details.
- Complete the switch – either with your current lender or by moving to a new one.
Things to Watch Out For
- Early repayment charges (ERCs): some lenders charge if you leave before your deal ends.
- Arrangement fees: factor these into the true cost of a deal.
- Valuation differences: your lender will revalue your property; make sure it’s realistic.
Remortgage Example
Sarah and Mark in Lisburn were on a 2-year fixed deal at 3%. When it ended, their lender’s rate jumped to 7%, pushing their payments up by £280 a month.
By remortgaging with our help, they secured a new 5-year fixed deal at a better rate (4.5%). Their payments dropped back down, saving them over £16,000 across the term.
FAQs
Q: Can I remortgage early?
Yes, but you might face early repayment charges. Sometimes it’s still worth it – we’ll do the maths for you.
Q: Does remortgaging affect my credit score?
Only slightly, as lenders run a credit check. It’s no worse than applying for a new mortgage.
Q: How long does it take?
On average, 4–8 weeks, depending on your lender and circumstances.
Ready to See Your Options?
Don’t wait until you’re rolled onto a pricey variable rate. We’ll compare deals across 90+ lenders, explain your options in plain English, and handle the paperwork.
? Book your free consultation today and find out if remortgaging could save you money in 2025.