Compare the best remortgage rates and deals from over 100 lenders

Which bank is best for remortgaging?

Which bank is best for remortgaging depends on what deals and rates you’re eligible for. Plus, banks and building societies often change their rates multiple times a month, so the best bank to remortgage with one week could be entirely different the week after. To see which banks are best for you and your situation, work with a mortgage broker to understand your options.

Do you get better rates when remortgaging?

Yes, you can sometimes get better rates when remortgaging. This is because the amount of equity you hold in the property will have increased if you’ve reduced your loan size over time through repayments. Plus, if your mortgage affordability has improved because, for example you’ve had a pay rise, this can also help you access better rates. However, this is also impacted by what rates lenders are offering at the time, which can sometimes be higher than when you took out your mortgage originally.

Is it better to remortgage for 2 or 5 years?

Whether it’s better to remortgage for 2 or 5 years depends on what the market is like at the time, and how you feel about risk. Fixing for longer can give you greater security, but could see you paying a higher rate of interest than remortgaging again in a few years’ time. If interest rates go up, fixing for longer when they are lower can see you benefit from a lower rate for longer. However, it’s impossible to know what interest rates will look like in a few years’ time. It’s best to get expert advice from a trusted mortgage broker to help you decide how long to fix for when you remortgage.

How soon can you remortgage before your fixed rate ends?

You can remortgage up to 6 months before your fixed rate deal ends. It’s a good idea to lock in a new deal at this time, as you can always re-apply later on if interest rates drop. But if rates go up in those six months, you will have locked in a lower interest rate already.

Need help remortgaging?

If you’re struggling to remortgage or are unsure whether now is the right time, we can help. Tembo is an award-winning mortgage broker that has helped thousands discover how they could boost their affordability. Get started by creating a free plan for a personalised remortgage recommendation.

Try our other remortgage tools