Could you save money by remortgaging?

A remortgage is when you move your mortgage to a new deal, either with your current lender or a different lender. People often remortgage to secure a better rate, reduce monthly payments, raise additional funds or change mortgage features.

It is often sensible to start reviewing your options a few months before your current deal ends. This gives you time to compare rates, check fees and avoid moving onto your lender’s standard variable rate.

Yes, in many cases remortgaging can reduce your monthly payments or lower the total cost of borrowing, although this depends on the new rate, fees, loan size and remaining mortgage term.

Sometimes, yes. Some borrowers remortgage to release equity for home improvements, debt consolidation or other purposes, subject to affordability, loan to value and lender criteria.

There can be. Depending on the lender and product, fees may include arrangement fees, valuation fees, legal costs or early repayment charges. Some remortgage deals include incentives such as free valuations, cashback or free legals.

Blueberry Mortgages compares a wide range of mortgage options, including high street lenders and building societies, to help you find a suitable remortgage deal. We explain the costs clearly and support you through the process from start to finish.