atom.wealthyadvisersclub.co.uk
Do not drift onto the standard variable rate
When a fixed rate ends, most lenders move you onto their standard variable rate, which is usually the most expensive product they offer. We start looking six months out.
Six months before your deal ends, not six weeks after
Most new mortgage offers stay valid for three to six months. That means you can lock in a rate well before your current deal expires and switch the day it ends, with no gap and no early repayment charge.
If rates fall between now and then, we re-check and swap you to the better one. There is nothing to lose by starting early, and a month or two on a standard variable rate can cost several hundred pounds.
It is not only about the rate
Rate is the usual trigger, but a remortgage is also the natural moment to restructure the whole thing.
A better rate
The obvious one. Coming off a fix onto the standard variable rate can add hundreds a month for no reason at all.
Raising money
Home improvements, an extension, or consolidating expensive borrowing. We will tell you honestly when this is a bad idea.
Changing the term
Shortening the term to clear it sooner, or lengthening it to cut the monthly cost when money is tight.
Your loan to value has improved
Payments and rising values both cut your loan to value. Crossing under 80 or 75 percent can unlock a noticeably better rate.
Switching product type
Fixed to tracker, tracker to fixed, or offsetting savings against the balance if you hold a decent cash buffer.
Changing who is on it
Adding a partner, removing an ex, or a transfer of equity after a separation. These need care and we handle them regularly.
When remortgaging is not the right move
We would rather tell you to stay put than earn a fee on a switch that leaves you worse off.
- You are mid fix with a big chargeIf the early repayment charge outweighs the saving, wait. We will diarise the date and come back to you at the right moment.
- Your circumstances have changed recentlyA new business, a recent default or a gap in employment can mean a product transfer with your existing lender beats the open market.
- The balance is smallBelow roughly £50,000 the fees on a new mortgage can swallow the rate saving entirely. Sometimes a product transfer is simply cheaper.
- You are moving soon anywayIf a move is likely within the year, porting your existing deal usually beats taking a new one and paying to leave it.
A remortgage, start to finish
Six months out, we review
We check your current rate, the end date, any early repayment charge and your updated loan to value, then search the market.
We recommend and apply
Product transfer with your existing lender or a full remortgage elsewhere, whichever genuinely wins. We handle the application either way.
Switch with no gap
The new deal starts the day the old one ends. Your solicitor handles the legal work, usually free as part of the remortgage package.
Frequently asked questions
When should I start looking?
Is a product transfer the same as a remortgage?
Will remortgaging cost me anything?
Can I remortgage to consolidate debt?
What if my property value has fallen?
Check what you could be paying
A short, friendly chat is all it takes to see what you could save. No jargon, no pressure, just clear advice.