Compare remortgage deals

If you’re planning to move, you might be wondering whether you can take your current mortgage with you or if it’s better to get a new deal.

Some mortgages are portable, which means you can transfer them to your new property. Unfortunately, it’s not always that straightforward. Sometimes, remortgaging with a new lender might give you more flexibility or help you borrow more if your new home costs more than your current one.

When your current mortgage deal ends, your lender will generally move you onto their standard variable rate (SVR) automatically. This rate is often much higher, which means your monthly payments increase.

Remortgaging before this happens can help you lock in a new deal and avoid paying more than you need to.

If you’ve got other debts, like credit cards or personal loans, combining them with your mortgage could be an option. This is called debt consolidation, and it can make your monthly payments easier to handle. But it also means you’ll probably pay more interest in the long term as mortgages are normally longer than most loans.

Life can change quickly. You might have just got married, been through a separation, started a new job, or experienced a big change in your income.

If this is you, remortgaging can help you find a deal that fits your needs, especially if you want to change the amount you're borrowing or how long you plan to pay off your mortgage.

If the value of your home has gone up since you bought it, you could borrow more money using your home’s value. This process is known as releasing equity. It can be used to pay for things like home renovations, weddings, or even helping a family member buy their own home.

Doing this will likely increase your loan amount, which means your monthly payments may go up or it could take you longer to pay off your mortgage. It’s a good idea to seek advice before making this decision so you can fully understand the costs and implications.

Having a good credit score can help you get better deals when you want to remortgage your home. Your L&C adviser will explain what lenders are looking for when they look at your credit score. We can also give you tips on how to boost your score before you apply.

Just because a mortgage has a low interest rate doesn’t mean it’s the best deal. Some mortgage deals come with high fees that can make them more expensive. Your L&C mortgage adviser will help you understand the real costs of a mortgage so you don't end up with surprises.

Finding the best remortgage deal doesn’t always mean going with your bank. Your L&C mortgage advisor looks at a wide range of options in the market, including special deals that aren’t available to the public because only mortgage brokers can access them.