Remortgage Deals & Rates | Compare The Market

Securing the right remortgageRefinancing an existing mortgage with a new mortgage. deal can make a noticeable difference to your monthly budget, help you pay off your loan sooner, or unlock equityThe difference between the value of the property and the amo... for other financial goals. Whether you’re considering switching from a standard variable rateThe interest rate charged by the lender that can vary over t... or you are eyeing better interest terms, finding the most suitable remortgage offer is more than just a smartly and timely, especially with 2025 approaching and new rates emerging.

Remortgaging can involve significant fees, potential early repayment charges, and fluctuating interest rates. Ensure you fully understand the terms and seek professional advice to avoid financial pitfalls.

What Are Remortgage Deals?

Understanding your current mortgage deal terms can help you avoid unexpected product fees or early repayment charges.

Your current lender might offer you a product transfer, but comparing mortgage products across the market is key.

Remortgaging simply means switching your current mortgage to a new one, either with your existing lender or a new provider. Most homeowners look into remortgage deals to save money, change to a more predictable fixed rate, or release some of the equity in their property. Its a way of reshaping your mortgage to better fit your current financial situation.

Why Consider Remortgage Deals in 2025?

A new fixed-rate mortgage could offer more predictable monthly mortgage payments, reducing financial pressure on mortgage customers.

With rising cost of living pressures and the Bank of England base rateThe interest rate set by the Bank of England, affects the in... expected to hold steady, many mortgage holders are exploring better deals.

With interest rates showing signs of stabilising and lenders introducing competitive products, 2025 presents a valuable window for homeowners in the UK. If your fixed rate is due to end or you are on a higher standard variable rate, this could be an ideal time to explore remortgage options and potentially save hundreds or even thousands over the coming years.

Benefits of Securing the Right Remortgage Deal

Remortgaging can also enable additional borrowingWhat is Additional Borrowing? A Quick Overview When you take... for things like home renovations or consolidating credit cards into a single, cheaper mortgage deal.

By switching from a standard variable rate to a fixed-rate mortgage, many homeowners find their monthly mortgage payment becomes more manageable.

• Lower monthly repayments
• Fixed-rate stability against market fluctuations
• Access to better terms and incentives
• Opportunity to consolidate other debts
• Release equity for home improvements or investments

Where to Find the Best Remortgage Deals

Comparison Websites

These sites allow you to filter remortgage offers by interest rate, term, loan-to-value (LTV) ratio, and more. They’re great for getting a broad view of whats out there.

Individual Lenders

Don’t overlook going direct to banks or building societies. Some, like Barclays and Santander, may offer exclusive remortgage deals not available through brokers or aggregators.

Working with a Mortgage Broker

According to the experts at NeedingAdvice.co.uk, a broker can provide access to a wider range of deals including specialist lenders and guide you through the paperwork. This can be especially helpful if you have complex needs or credit challenges.

How to Compare Remortgage Deals Effectively

Assess both the initial interest rate period and the full deal period whether it’s a 2-year fixed-rate mortgage or a tracker mortgage tied to the base rate.

Use mortgage calculators to evaluate costs for comparison, including arrangement fees, completionThe point at which a property purchase is finalized and owne... fees, and telegraphic transfer fees.

When comparing options, focus on:

• Interest rate type (fixed, variable, tracker)
• Length of deal
• Arrangement, legal and valuation fees
• Early repayment charges on your current mortgage
• Overall cost over the mortgage term

How Property Equity Plays a Role

The more equity you have in your property, the better the rate you may be offered. This is because you’re seen as a lower risk to lenders.

Cost Comparison: Remortgaging vs Personal Loans

While personal loans can be quicker, remortgaging usually offers lower interest rates and larger borrowing capacity, especially for significant projects like extensions or renovations.

Remortgage Deals for Specific Needs

Buy-to-let remortgage deals may require property valuation and specific documents like an annual mortgage statement and rental income proof.

Bad credit lenders often consider customers with credit challenges based on their credit history and credit rating.

Bad Credit Remortgage Deals

Specialist lenders exist for those with adverse credit, though rates may be higher. A broker can help find the best-fit lender.

Remortgage Deals for Buy-to-Let Properties

Landlords can remortgage to unlock capital or get better terms. Expect slightly stricter criteria and possibly higher rates.

Joint Mortgage Remortgages

Both parties in a joint mortgage must agree to the remortgage. The application will consider both sets of financial details.

Common Questions About Remortgage Deals (FAQ)

Can I remortgage my current property during bank holidays or public holidays, and what role does the conveyancing process play?

What is a remortgage application and how does it affect your credit score or credit search?

• Can I remortgage with bad credit? Yes, through specialist lenders. Expect tighter terms and higher rates.
• Is it worth remortgaging now? If you’re on a variable rate or your fixed term is ending soon yes, its worth a look.
• What fees should I expect? Arrangement, valuation, legal, and potentially broker fees.
• How can a remortgage calculator help? Tools like a remortgage calculator UK estimate savings based on your details.

Next Steps to Secure the Best Remortgage Deal

Speak to qualified mortgage professionals or expert advisers for impartial mortgage advice tailored to your financial circumstances.

Gather your mortgage details, bank statementsA record of a borrower's financial transactions often requir..., and any redemption statementA statement provided by the lender that shows the amount nee... from your current mortgage provider.

Here is what to do next:

• Check your credit score
• Review your current mortgage terms
• Gather financial documents
• Compare deals or speak to a broker
• Apply early to avoid lapses in rate locks

Talk to a Mortgage Broker About Remortgage Deals

With access to green mortgages, offset mortgages, and formal mortgage illustrations, they can tailor a solution to suit your individual circumstances.

Brokers can explain different types of mortgages from repayment mortgages to interest-only mortgage products and help navigate the remortgage process.

Working with a qualified mortgage adviser ensures you are not missing out on niche deals or specialist products. For tailored support, reach out to a broker who understands the full market and can help you through the process smoothly.