How to Remortgage UK 2026
Remortgaging is one of the highest-value financial tasks a homeowner can do. Many people roll onto their lender's Standard Variable Rate when their deal expires, which in 2026 is typically 6 to 8%. Switching to a competitive deal can save £3,000 to £6,000 per year.
When to Start Looking
Begin searching three to six months before your current deal expires. Most mortgage offers are valid for up to six months, so you can lock in a rate early and switch when your deal ends without paying early repayment charges.
Signs It Is Time to Remortgage
- Your fixed deal is ending in the next six months
- You are currently on your lender's SVR
- Your home has increased significantly in value
- You want to borrow more for home improvements
- Your financial circumstances have improved
The Remortgage Process
- Check your current mortgage end date and whether early repayment charges apply
- Get a current valuation to establish your loan-to-value ratio
- Use a whole-of-market mortgage broker to search for deals
- Apply for your chosen deal
- New lender conducts valuation and legal checks
- Completion — new lender pays off old lender
How Much Could You Save?
On a £200,000 mortgage, moving from 7% SVR to 4.2% fixed saves approximately £450 per month — over £5,000 per year.
Costs to Factor In
- Arrangement fee: £0 to £1,999
- Valuation: Often free as part of remortgage package
- Legal fees: Usually paid by new lender
- Early repayment charge: Only if switching before current deal ends
Always use a qualified whole-of-market mortgage broker. Their advice is typically free.