⚡ Quick Answer
The best remortgage rates start from 3.87% (2yr fixed, HSBC). The average UK homeowner who remortgages saves £2,847/year. Start comparing 6 months before your current deal expires. Calculate your new payment →
When Should I Remortgage?
- Your fixed/tracker deal is ending — you'll move onto the Standard Variable Rate (SVR), typically 2–3% higher
- Your SVR is high — you're already paying too much
- Your home has increased in value — improved LTV = better rates
- You want to borrow more — for home improvements or debt consolidation
- You want to switch from interest-only to repayment
Expert Tip
Start the remortgage process 3–6 months before your current deal ends. Most lenders will lock in a rate now for a future completion date, protecting you if rates rise. If rates fall before completion, you can often switch again. Check MoneySavingExpert's remortgage guide ↗ for Martin Lewis's latest tips.
Best Remortgage Rates (June 2025)
| Lender | Type | Rate | APRC | Max LTV | Fees | |
|---|---|---|---|---|---|---|
| HSBC | 2yr Fixed | 3.83% | 6.3% | 75% | £999 | Apply |
| Barclays | 2yr Fixed | 3.90% | 6.4% | 80% | £0 | Apply |
| Nationwide | 5yr Fixed | 4.15% | 6.8% | 85% | £0 | Apply |
| Halifax | 5yr Fixed | 4.13% | 6.9% | 90% | £995 | Apply |
Remortgage Costs to Consider
- Early Repayment Charge (ERC): Leaving your deal early usually costs 1–5% of the outstanding balance
- Exit fee: Some lenders charge £50–£300 to close your account
- Arrangement fee: New lender's product fee — £0–£1,999
- Valuation: Often free for remortgages
- Legal costs: Many lenders offer free legal work for standard remortgages
Frequently Asked Questions
- Whole-of-market brokers see deals comparison sites never list, especially for non-standard income
- Benchmark total cost over the fixed period — rate plus fees, not headline rate alone
- Loan-to-value bands (95/90/85/80/75%) drive pricing — a small extra deposit can cross a cheaper band
- Get a soft-search decision in principle before house-hunting — it costs nothing and reveals problems early
Beyond the Basics
New-build purchases carry extra moving parts: developer deadlines (often 28 days to exchange), incentives that lenders may deduct from the valuation, and longer mortgage-offer validity requirements. Tell your broker it's new-build on day one.
Get your decision in principle before falling in love with a property. It's a soft-search estimate of your borrowing power that estate agents increasingly require before viewings, and it surfaces problems months before they can derail a purchase.
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