Remortgaging is basically replacing your current mortgage with a new deal, either with your existing lender or a new one. This guide explains when it’s worth doing, what you need to prepare, the steps from research to completion, the fees to watch for, and how to avoid common mistakes that cost people money.
Feb 9, 2026
Remortgaging is one of those things people put off, then suddenly they’re dumped onto a higher rate and wondering why the monthly payment jumped. If you understand the process, you can time it properly, avoid nasty fees, and often put yourself in a stronger position.
A remortgage is when you replace your current mortgage with a new one on the same property.
That can mean:
People usually remortgage to get a better rate, change their fixed period, change the mortgage term, or borrow extra for things like home improvements.
Remortgaging is usually worth looking at if any of these apply:
A simple rule: if you’re within around 3 to 6 months of your deal ending, you should be reviewing options. Starting early gives you time to shop around without panic.
Before you apply for anything, get your basics straight. This is where most people mess it up.
1) Check your current mortgage details
2) Look for fees that can wipe out the “saving”
If your ERC is big, switching early might be pointless unless the new deal saves enough to beat the fee.
3) Work out your loan-to-value (LTV)
You’ll need an estimate of your property value. You can sanity-check it using online estimates, recent local sales, or an estate agent’s view. Your lender will still do their own valuation later.
4) Tidy up your credit file
Even small issues can cause delays, wrong addresses, old accounts, missed payments showing in error. Fix what you can before you apply.
5) Decide what you actually want
Lowest rate is not always best if it comes with big fees or locks you in when you might need flexibility.
Here’s the process in plain English.
You look at deals from your existing lender and other lenders, based on:
Some lenders will use an Agreement in Principle (AIP) or Decision in Principle (DIP) stage. It’s an initial check to see if they’re likely to lend to you, based on the info you provide.
It helps you avoid wasting time on a lender that was never going to accept the case.
You provide documents and the lender runs the proper checks. Commonly:
The lender will value the property to confirm it supports the loan amount. Sometimes it’s a desktop valuation, sometimes they send a valuer.
If everything checks out, you receive a mortgage offer.
A solicitor or conveyancer handles the legal side of switching the charge from your old lender to the new one. Once complete:
How long does it take? Commonly 4 to 8 weeks, but it can be quicker for simple cases, and longer if there are income complications, property issues, or paperwork delays.
If you want help, we can run the numbers properly, not just “rate shopping”.
What we do:
If you’re looking at a remortgage, start here:
If you want a quick sense-check on affordability and payments:
If you’re also house-hunting and want to understand what you can borrow first, an AIP can help you avoid wasting time on unrealistic price ranges.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Remortgaging can reduce monthly payments, but it can also increase the total cost over time, especially if you extend the term or borrow extra. Always look at the full picture, not just the headline rate.
Getting a mortgage on a zero-hour contract is absolutely possible but it takes careful preparation, consistent income records, and choosing the right lender. This guide walks you through the exact steps to take, the documents you’ll need, and how to avoid common mistakes that could hold you back.
Read Article
If you own less than 25% of a limited company, many UK mortgage lenders won’t class you as self-employed. That means your income may be assessed like a standard PAYE employee using payslips and a P60, not two years of company accounts. In the right circumstances, this can unlock earlier mortgage approval, more lender choice, and better rates. A real MBNM case study below shows how a 1% difference in shareholding made all the difference.
Read Article
A clear, real-world breakdown of how much you need to earn to buy a £250,000 home in the UK. This guide explains how lenders calculate affordability, how deposit size affects borrowing, what monthly repayments typically look like, and why location plays a huge role in what £250,000 can buy. Written to help first-time buyers sense-check the numbers before making an offer.
Read ArticleIf you’re buying, moving, or remortgaging, speak with a MBNM adviser and get clear guidance on what’s realistically available to you, before you commit to anything.
Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Mortgage Brokers Near Me LTD is an Appointed Representative of The Right Mortgage LTD which is authorised and regulated by the Financial Conduct Authority.
The guidance and/or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. The Financial Conduct Authority does not regulate Will Writing and some forms of Trusts and Buy to Lets. A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.
Mortgage Brokers Near Me LTD are registered in England and Wales with company number 15189091.
C/O The Financial Management Centre, Meads Business Centre, 19 Kingsmead, Farnborough, England, GU14 7SR
