For most homeowners, a mortgage is their biggest monthly expense — so it only makes sense to keep it working in your favour. That’s where remortgages come in. Whether you're aiming to save money, pay off debt, or fund home improvements, remortgaging could be the right move for your financial future.
What Is a Remortgage?
A remortgage happens when you move your existing mortgage to a new deal — either with your current lender or a different one. This usually doesn’t involve moving house, just changing the terms of your mortgage.
When Should You Consider Remortgaging?
Here are a few scenarios where remortgaging makes sense:
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Your current deal is ending
If your fixed-rate or tracker mortgage is about to expire, your lender will likely switch you to their standard variable rate (SVR), which is often more expensive. Remortgaging before this happens can save you money. -
Interest rates have changed
If rates have dropped since you took out your mortgage, now might be a good time to lock in a lower rate. -
You’ve built up equity
If your home’s value has increased or you’ve paid down a significant chunk of your mortgage, you could be eligible for better rates. -
You want to borrow more
Need funds for renovations, education, or other big expenses? A remortgage might allow you to release equity from your home.
Things to Consider
Remortgaging isn’t free — there can be fees involved, including early repayment charges, legal fees, and valuation costs. However, in many cases, the long-term savings outweigh the initial expense.
Make sure you shop around, compare deals, and speak to a qualified mortgage advisor to understand your options.
Final Thoughts
Life changes — and your mortgage should keep up. Whether your financial goals have shifted or you simply want a better deal, remortgages can offer flexibility and savings.
At ARK Mortgages, our experts are here to help you explore the best remortgage options for your unique situation. Let’s find the deal that fits your life — not the other way around.