Remortgage services

If you know anything about mortgages, you will know that there’s a wide range of lenders, deals and terms out there. However, if you already own a property and have a mortgage, you open up even more options – this is called remortgaging. You might have a mortgage in place, but are you sure it’s as well suited to you as it once was? Are you sure you’re currently getting the best deal, or are you possibly paying more than you should be? Circumstances change, rates fluctuate and new deals hit the market. If you want the peace of mind that comes with knowing you’ve got the ideal mortgage, you might need to switch things up.

We search 1000's of mortgage deals across a large number of lenders, including...

The importance of remortgaging in 2026

Remortgaging has always been important, but it’s playing an even more important role in household financial planning in 2026. With interest rates continuing to fluctuate, lenders frequently updating their criteria and property values changing significantly, staying with an outdated mortgage deal could mean paying more than you need to each month.

What is remortgaging?

Remortgaging is the process of switching from your current mortgage to a new deal, either with your existing lender or by moving to an entirely new provider, all without changing your property. It’s a common misconception that a mortgage is something you only have to think about once, when you first buy your home, and then you can let it run in the background going forward. But, that’s not the case. Regularly reviewing and remortgaging can have a big impact on your finances over time, especially if you’re able to find a deal with better terms and rates.

There are a lot of reasons to remortgage, with some homeowners seeking lower interest rates and more manageable monthly payments, and others wanting to release equity from their home. You might even decide to remortgage to raise funds for home improvements or education, or because you want to access capital to support another property purchase. Whatever the reason, remortgaging isn’t just about saving money, it’s about ensuring your mortgage aligns with your current circumstances, finances and long-term goals.

The most common types of remortgage

The reasons for remortgaging tend to be different depending on whether you’re a homeowner, limited company director, buy-to-let landlord or a portfolio landlord. You might even decide to remortgage because of bad credit, especially if you’ve got CCJs and defaults on your credit report. Some of the most common types of remortgage deal include:

Home improvements remortgage
Debt consolidation remortgage
Bad credit remortgage
Self-employed remortgage
Offset remortgages
Contractor remortgages
Remortgaging with less than 1 year accounts
Limited company director remortgage
Further advance remortgage
Buy-to-let remortgage

Speak to a mortgage advisor

Key benefits of remortgaging

When remortgaging is done right, it can give you a whole host of long-term, financial advantages. This is why it’s so important to review your lender, deal and terms regularly.

Potential monthly savings

One of the most common reasons for remortgaging is to reduce monthly payments. It’s not uncommon for borrowers to unknowingly roll onto their lender’s Standard Variable Rate (SVR) once a fixed or tracker deal comes to an end. SVRs are often considerably higher than the best deals available on the market, resulting in higher than necessary payments. In fact, switching from a higher variable mortgage rate to a lower fixed mortgage rate could save thousands over the course of a mortgage term. On a large mortgage balance, even a very small reduction in interest rates can have a big impact.

Financial stability and certainty

When you remortgage, you have the chance to choose a mortgage that suits your appetite for risk. Fixed rate mortgages can provide peace of mind by keeping monthly payments predictable, whereas tracker rate mortgages or discounted deals might suit you better if you’re comfortable with some level of fluctuation. This stability is particularly valuable when managing household budgets or planning for future financial commitments.

Access to property equity

As you repay your mortgage and your property value increases, you build equity. Remortgaging can allow you to unlock some of that equity at mortgage interest rates – which are typically lower than other forms of borrowing – and use the money for other reasons. You might decide to use it for home renovations, extensions or home improvements. You might need to support a family member financially, or maybe you need a deposit for a buy-to-let investment or a second property. The choice is yours.

Better mortgage features

It’s a tale as old as time, but new products often come with new features, and that’s certainly the case with mortgages. When you remortgage, you have access to newer mortgage products, which often come with more flexible features, such as overpayment allowances, payment holidays, reduced early repayment charges and flexible repayment options. These might not be features you have access to on your current mortgage deal. Remortgaging gives you the opportunity to upgrade not just your rate, but the overall structure of your mortgage.

When to consider remortgaging

It’s one thing to know why you should remortgage, it’s another to know when you should remortgage. There are certain situations where it’s a good idea to review things, such as:

Your current deal is coming to an end

If your fixed rate mortgage or tracker rate mortgage is due to end within the next six months, it’s the ideal time to explore remortgaging options. Acting early allows you to secure a new rate in advance and avoid reverting to a higher SVR, which is a risk if you leave things too late.

Interest rates or market conditions have changed

There’s always something changing in the world of mortgages, and a lot of these changes can impact your rate. Changes often create opportunities for you to lock in more competitive rates or mortgage products that weren’t available when you last applied.

Your property has increased in value

A lot of homeowners find that their property increases in value over the years and, if that’s the case for you, remortaging allows you to capitalise on that. A higher property valuation can reduce your loan-to-value (LTV) ratio, and lower LTVs tend to attract better interest rates. This means you could potentially access deals that were previously out of reach.

Your finances or credit profile has improved

There’s no knowing what’s around the corner, and your circumstances could have changed since you applied for your current mortgage. You might have had a promotion or payrise, meaning your income is higher than it was. You might have paid off a chunk of debt or reduced your borrowing, improving your credit history. Anything that improves your financial standing or credit profile can widen the range of mortgage deals available to you.

You need to raise capital for buy-to-let or investment purposes

Many homeowners remortgage to raise funds for a deposit on a buy-to-let property. When done strategically and with professional advice, this can be an effective way to grow a property portfolio while maintaining manageable borrowing levels.

Read our reviews

Step-by-step guide to remortgaging

When a lot of homeowners think about remortgaging, they’re put off by the assumption that the process is stressful, complex and time-consuming. However, that’s rarely the case. Not only do the benefits of remortgaging usually outweigh the effort involved, the process also tends to be easier than many people realise. Though remortgaging may sound complex, it follows a clear and structured process – especially when you have an experienced mortgage broker managing things – and once you understand that process, remortgaging becomes a lot simpler.

Step 1: Comprehensive current mortgage review

The first step in the remortgage process is to undergo a full current mortgage review, which Everest Mortgages handles for you. This involves reviewing your existing mortgage, current interest rate, remaining term, early repayment charges and your overall affordability. Your future plans are also taken into account, to ensure the new deal supports your long-term property ownership and financial goals.

Step 2: Market research and mortgage deal comparison

Using a wide range of lenders – both high street and specialist – all of your remortgage options are compared to identify the most suitable deals. These are picked based on rate, fees, flexibility and criteria, narrowing down the impressive range of remortgage options so you can focus on the ones that work best for you.

Step 3: Mortgage application

Once a suitable deal is selected, it’s time to move onto the application process. This works in a similar way to when you applied for a mortgage at the time of buying your property, so you’ll be somewhat familiar with the process. We manage the application process, ensuring all documentation is accurate and submitted efficiently. This helps to minimise delays and reduce the likelihood of issues.

Step 4: Property valuation

Before approving your remortgage, your chosen lender will assess the value of your property to confirm lending terms. After all, if the value of your property has changed – which is likely if you purchased it a number of years ago – this needs to be reflected in your new deal.

Step 5: The legal side of things

Unsurprisingly, there’s a handful of legal checks that go into remortgaging, which are carried out to transfer the mortgage. Many remortgage products include free legal services or cashback incentives to offset costs, keeping the cost of remortgaging as low as possible.

Step 6: Completion

Once all of the above is complete, your new mortgage replaces the old one. Payments switch seamlessly and you begin to benefit from your new terms immediately. You then carry on paying the mortgage, each and every month, like you have been doing so far.

Remortgaging glossary: Key terms you need to know

Equity – Equity is the portion of your property that you own outright, and it’s calculated by working out the difference between its value and your mortgage balance.
Loan-to-Value (LTV) – LTV is the percentage of your property’s value that is mortgaged. For example, if you have an 80% LTV, it means you’re borrowing 80% of the property’s value from a lender. The other 20% is made up from your deposit, and the repayments you’ve made so far.
Standard Variable Rate (SVR) – When a mortgage deal comes to an end, it reverts to an SVR. This is the lender’s default interest rate, which is usually higher than other rates and subject to change.
Early Repayment Charge (ERC) – ERC is a fee charged for leaving a mortgage deal before the end of its term. You might need to pay this when you remortgage.
Fixed Rate Mortgage – A fixed rate mortgage has an interest rate that remains the same for a set period. You know what the interest rate is going to be going forward, and there’s no risk of that changing until the agreed period is up.
Tracker Mortgage – A tracker mortgage is where the interest rate tracks a base rate, usually set by the Bank of England. This means it can fluctuate over time, increasing or decreasing your monthly payments.

Speak to a remortgage expert today

Remortgaging can reduce your monthly payments, release equity and provide greater financial certainty, but only when it’s done correctly. At Everest Mortgages, we’ll review your current mortgage, explain your remortgage options clearly and guide you through the entire process, helping you to make informed decisions with confidence.