Quick Answer
Remortgaging in London can save you thousands. Most homeowners should start comparing deals 3–6 months before their current fixed rate ends. Use our mortgage calculator to estimate new payments.
- Whole-of-market brokers see deals comparison sites don't carry, especially for non-standard income
- Start remortgage shopping up to 6 months before your fix ends — you can lock now and switch if rates fall
- Loan-to-value bands (95/90/85/80/75%) drive pricing — a small extra deposit can cross a cheaper band
- Benchmark total cost over the fixed period — rate plus fees, not headline rate alone
Beyond the Basics
Product fees deserve as much attention as rates. A £999 arrangement fee on a lower rate only pays off above a certain loan size — roughly £130,000+ for typical gaps. Run both totals over the fixed period before deciding.
Timing your remortgage matters more than most borrowers realise. Most lenders let you lock a deal half a year ahead — if rates rise you're protected, and if they fall you can usually re-lock lower before completion.
Remortgage in London — Guide 2025
If your fixed rate mortgage deal is coming to an end, remortgaging in London could significantly reduce your monthly payments. This guide explains what to do and when to act.
When to Start Remortgaging
- Start comparing 3–6 months before your deal ends
- Most mortgage offers are valid for 3–6 months so you can lock in a rate early
- Avoid rolling onto the Standard Variable Rate (SVR) — usually 2–3% higher than best fixes
Remortgage Costs
| Cost | Amount |
|---|---|
| Arrangement fee | £0–£1,999 |
| Valuation fee | £0–£500 (often free) |
| Legal fees | £0–£500 (often free for remortgage) |
| Early repayment charge | 1–5% of loan (if leaving early) |
Resources
Frequently Asked Questions
There is no universal answer. A 5-year fix buys certainty; a 2-year fix costs less if rates fall. Check the total cost including fees, not just the headline rate.
Typically 3 to 6 months depending on the lender. New-build purchases often get extended validity because completion dates slip.
Most fixed deals allow 10% overpayment per year without penalty. Even £100 a month can cut years off a 25-year term.
You move to the lender's standard variable rate, which is almost always worse value. Start remortgage shopping 6 months before the end date.
Lenders cap borrowing at 4.5x income for most applicants. Some banks stretch to 5.5x for qualifying professions or joint incomes over £60,000.
Usually yes, but the pool of lenders shrinks. Specialist lenders accept defaults and CCJs older than 24 months, typically at higher rates. A broker who works with adverse-credit lenders is essential here.
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