⚡ Quick Answer
The best remortgage rates start from 3.85% (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 | 3.92% | 6.3% | 75% | £999 | Apply |
| Barclays | 2yr Fixed | 3.92% | 6.4% | 80% | £0 | Apply |
| Nationwide | 5yr Fixed | 4.17% | 6.8% | 85% | £0 | Apply |
| Halifax | 5yr Fixed | 4.22% | 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
- Compare total cost over the fixed period — rate plus fees, not headline rate alone
- Whole-of-market brokers see deals comparison sites never list, especially for non-standard income
- Get a soft-search decision in principle first — it costs nothing and reveals problems early
- Start remortgage shopping up to 6 months before your fix ends — you can lock now and switch if rates fall
The Details That Decide Outcomes
Decision in principle first, property search second. It's a soft-search estimate of your borrowing power that estate agents increasingly require before viewings, and it surfaces credit-file surprises while there's still time to fix them.
Post-2023 affordability testing is stricter than many buyers expect. Lenders now stress-test your payments at a notional higher rate, and your outgoings matter as much as income. Clearing a £300/month car payment can add £15–20k to a mortgage offer.
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