Mortgages / Review your next step
Remortgage
Understand your current deal, the costs of changing and the questions worth asking before you switch.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Educational information, not a mortgage offer or confirmation of eligibility. Product availability and BuySure’s service scope require confirmation.
Know your current position
Find your mortgage balance, remaining term, deal end date and any early repayment charge. Record the rate or arrangement that would apply if you do nothing.
Product transfer or remortgage?
A product transfer is a new deal with your current lender; a remortgage generally moves the mortgage to another lender on the same property. Available checks, costs and options differ. Switching is not necessarily cheaper.
Changes since your last application
Employment, income, family commitments and the property can affect the options. A new lender can reassess affordability and eligibility. Additional borrowing needs a clear purpose and consideration of the longer-term cost.
Timing and total cost
Allow time to review, apply and complete checks. Compare product, legal, valuation and administration fees alongside interest and any charge for leaving the existing deal. A lower monthly payment alone does not show the total cost.
A useful review checklist
Bring the current statement and deal terms to a future conversation. Ask what happens if your plans change, whether fees are added to borrowing, and how the term affects repayments. Do not submit documents through this planning page.
A typical route, not a timetable
From a question to your next step.
- 01Check current terms
- 02Discuss changes
- 03Compare overall costs
- 04Apply & complete checks
- 05Confirm the new arrangement
The sequence and timing depend on the circumstances. Approval is not assured.
Questions you may have
Will remortgaging save money?
Not necessarily. Costs, rates, term and circumstances all matter. This website does not calculate savings or recommend a deal.
Can I change before my deal ends?
There may be charges or other conditions. Check the existing agreement and ask about timing before making a decision.
Is a product transfer always simpler?
Requirements vary by lender and the change requested. Do not assume there will be no checks or fees.
Ready to explore your circumstances?
Your home may be repossessed if you do not keep up repayments on your mortgage.
Educational references: MoneyHelper: remortgaging considerations.