Remortgaging can help homeowners manage their finances more effectively, but timing is an important part of the decision. Switching too early could mean paying extra charges, while leaving it too late might push you onto a lender’s standard variable rate, which is often higher.
Why Timing Matters
Many borrowers choose to look at remortgaging a few months before their current mortgage deal ends. This allows time to explore options and avoid a gap where repayments might increase. Others may consider remortgaging when their property value has risen, which could improve the terms available to them.
The right moment depends on your circumstances, but being proactive helps ensure you don’t miss opportunities.
Moving Forward
Understanding when to remortgage is about preparation rather than waiting for the last day of your current deal. By planning ahead, you can give yourself more choice and avoid unnecessary costs.
At Muuvin Mortgages & Protection, we offer no-obligation calls where you can discuss your current deal and learn whether now is the right time to explore remortgage options.
How soon before my deal ends should I think about remortgaging?
Many people begin looking three to six months before their deal finishes.
Can I remortgage if my property value has increased?
Yes. A higher property value may allow you to access different terms.
What happens if I don’t remortgage in time?
You may move onto your lender’s standard variable rate, which could be higher than your current deal.
Disclaimer
Your home may be repossessed if you do not keep up repayments on your mortgage.
This article is for general information only and should not be taken as advice. Mortgage applications are subject to status and lender criteria.
