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ReMortgage Hotline - Call Us 0117 403 4474

What is your mortgage for?

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0.87% APR 

  • Fixed for 26 months
  • 60% LTV - Interest only option
  • Overall cost for comparison 3.20%

Representative Example: 

Mortgage of £180,000 on property valued at £300,000 over term of 25 years.

Rate fixed for 26 months after which reverts to the RBS variable rate of 3.59%.

Call RBS on 0800 068 7706

0.97% APR

  • Fixed for 62 Months
  • 60% LTV - Interest Only
  • Overall cost for comparison 2.60%

Representative Example: 

Mortgage of £180,000 on property valued at £300,000 over term of 25 years.

Rate fixed for 62 months after which reverts to NatWest variable rate of 3.59%.

Call NatWest FREE on 0800 068 8567

3.15% APR 

  • Fixed for 26 months
  • 95% LTV - £500 CASHBACK Offer!
  • Overall cost for comparison 3.60%

Representative Example: 

Mortgage of £100,000 on property valued at £200,000. Term of 25 years.

Rate fixed for 26 months then reverts to variable rate of 3.59%.

Call NatWest FREE on 0800 068 8567

Remortgage

With interest rates at all time lows now is a great time to remortgage!

If you require independent advice on your options please use our remortgage advice service.

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 0.79%
Rate type: Fixed 27 months
Monthly cost: £661.40 per month
Max LTV: 60%
Product fee: £1,499
Overall cost for comparison: 3.8% APRC
Platform logo 0.79% Fixed 27 months 3.8% APRC 60% £1,499 £250 cashback £661.40 per month get quotes Call us0117 403 4474 More details
Initial rate: 0.83%
Rate type: Discounted Variable 24 months
Monthly cost: £664.61 per month
Max LTV: 60%
Product fee: £1,999
Overall cost for comparison: 3.7% APRC
Cumberland BS logo 0.83% Discounted Variable 24 months 3.7% APRC 60% £1,999 £664.61 per month get quotes Call us0117 403 4474
Initial rate: 0.83%
Rate type: Discounted Variable 24 months
Monthly cost: £664.61 per month
Max LTV: 60%
Product fee: £1,999
Overall cost for comparison: 3.7% APRC
Cumberland BS logo 0.83% Discounted Variable 24 months 3.7% APRC 60% £1,999 £664.61 per month get quotes Call us0117 403 4474
Initial rate: 0.84%
Rate type: Fixed 26 months
Monthly cost: £665.41 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 3.2% APRC
HSBC logo 0.84% Fixed 26 months 3.2% APRC 60% £999 £665.41 per month get quotes Call us0117 403 4474 More details
Initial rate: 0.84%
Rate type: Fixed 27 months
Monthly cost: £665.41 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 3.8% APRC
Platform logo 0.84% Fixed 27 months 3.8% APRC 60% £999 £250 cashback £665.41 per month get quotes Call us0117 403 4474 More details
Initial rate: 0.84%
Rate type: Fixed 27 months
Monthly cost: £665.41 per month
Max LTV: 60%
Product fee: £749
Overall cost for comparison: 3.0% APRC
Santander logo 0.84% Fixed 27 months 3.0% APRC 60% £749 £665.41 per month get quotes Call us0117 403 4474 More details
Initial rate: 0.84%
Rate type: Fixed 27 months
Monthly cost: £665.41 per month
Max LTV: 60%
Product fee: £749
Overall cost for comparison: 3.0% APRC
Santander logo 0.84% Fixed 27 months 3.0% APRC 60% £749 £665.41 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 0.84%
Rate type: Fixed 26 months
Monthly cost: £665.41 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 3.2% APRC
TSB logo 0.84% Fixed 26 months 3.2% APRC 60% £995 £665.41 per month get quotes Call us0117 403 4474 More details
Initial rate: 0.85%
Rate type: Variable 24 months
Monthly cost: £666.22 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 3.2% APRC
Barclays Mortgage logo 0.85% Variable 24 months 3.2% APRC 60% £999 £666.22 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 0.86%
Rate type: Fixed 26 months
Monthly cost: £667.02 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 3.2% APRC
Barclays Mortgage logo 0.86% Fixed 26 months 3.2% APRC 60% £999 £667.02 per month get quotes Call us0117 403 4474 More details Broker Only Deal
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Remortgage

Paying too much on your mortgage?

A staggering £2.78 billion of interest being paid by people on the wrong mortgage deal...!

Remortgage 2021

This is according to latest research by L&C Mortgages* who have revealed that 36% of UK homeowners are sitting on the Standard Variable Rate.

So when you took out your mortgage there is a good chance that you were given a fixed initial rate deal e.g. 2,3 or 5 years.

At the end of the initial rate you will usually have been switched automatically to the lender’s Standard variable Rate (SVR) of interest. The current average lender SVR is 4.40%...

So this means if you are sitting on a lender SVR you will probably be paying a lot more interest on your mortgage repayments each month than you need to.

Currently 4 million UK homeowners are paying more interest on their mortgage than they need to.

"It’s worrying to see so many people still on a Standard Variable Rate mortgage as they are not the cheapest rates available. Not only is there a lack of awareness around how much could be saved but worse still a huge number of people have never even tried to remortgage to get a better deal." Source: L&C Mortgages

Why do people Remortgage?

The main reason is to keep monthly costs to a minimum. Why pay more interest than you need to.

1. Has your initial mortgage deal come to an end?

The bad news...You will probably be paying unnecessary monthly interest. If you do nothing and the Bank of England increases interest rates your monthly payments will go up. 

The good news...On average a UK homeowner could save £216 per month by switching to better mortgage deal

That is a saving of £2,500 annually...!!!*

By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.

 Remortgage -and -save -money

2. Are you looking to raise money?

By remortgaging you may be able to releasing equity in your home.

People often remortgage to provide money for:

  • Home improvements
  • New Kitchen
  • New En-suite bathroom
  • New Extension
  • Help your child with their own mortgage deposit
  • Consolidate other existing debts.

This can be a low cost way of raising money from your home.


2021 set to be a strong year for remortgaging

2021 looks likely to be another strong year for remortgaging.

Some rates are at sub 1% levels which represent great value, however these low levels may not last for long.

With COVID-19 restrictions lifting and consumer spending beginning to rise, we can expect inflation levels to start to increase, so we may see rates begin to rise later into the year. 


3 Points to consider when remortgaging

  • Check your current mortgage deal and see whether there are any penalties to switch to a new deal. Often there may be ERCs (Early redemption charges) if you switch to a new deal too early, so good to understand if this applies before you consider switching to a new mortgage product
  • If you are looking to make home improvements or consolidate debts remortgaging your house could be the cheapest way of doing this
  • Speak to an independent mortgage broker to talk through your options. We provide a free initial consultation service to see whether remortgaging is right for you

Not sure what to do?

Not sure how much you could save? Use our free calculator today.

Remortgage Calculator

Remortgage Service - helping you make the right decision

Why choose our remortgage service?

Fair Mortgages can provide you with a first class remortgage service. 

Special features of what we offer include:

  • Whole of market service - we cover most UK lenders
  • Great Rates - Access to leading market rates
  • Exclusive Deals - Access to exclusive remortgage deals not available on high street
  • Fast turnaround - call us if you need to move fast!
  • Less than perfect credit history? - We have lenders who will take into account previous defaults and missed payments 
  • Raising additional finance - If you are looking to raise finance we will look at all your finance options as well as remortgaging.

To investigate your remortgage options call our specialist team on 0117 403 4474 or fill in our call back form. 

Remortgage

Why remortgage?

A remortgage is when you replace your existing mortgage with a new one. There are many reasons for remortgaging, but the majority fall into one of the two following categories:

Click here for Remortgage Quotes & Advice »

1. Remortgaging to save money

If you have a fixed rate mortgage deal, your interest rate will usually switch to the lender’s Standard variable Rate (SVR) which is likely to be higher and will probably mean that you have to pay more each month. By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.

2. Remortgaging to raise money

Remortgaging to release equity in your home. This could be useful if you wanted to carry out repairs to the property, add an extension, help your child with their own mortgage deposit, or consolidate other existing debts.

Even if you are happy with your current mortgage deal, it is often worth keeping a close eye on the mortgage market to ensure that you don’t miss out on potential savings you could make by remortgaging your property.

Points to consider when remortgaging

Done wisely, remortgaging could save you a substantial amount of money on your repayments each monthly. Even if your new mortgage deal takes just a few percent off your current deal, that could add up a significant saving over the life of the mortgage. If you have had the same mortgage deal for several years, it may be worth checking periodically to see if better deals have become available.

If interest rates rise, remortgaging could be an attractive option for those home owners who currently have a tracker mortgage deal. By moving to a fixed rate mortgage deal, borrows can have the security of knowing exactly how much their mortgage payments are going to be each month.

Despite the potential savings, remortgaging is not always the most cost-effective option. One of the most important things to think about before considering remortgaging is the current value of your property in relation to its value when you bought it.

If you are self employed remortgaging may present a number of unexpected challenges depending on how long you have been self employed and the nature of your work and income - speak to our mortgage team for advice on your options.

If your property has dropped in value since you first took out a mortgage on it, you may be in negative equity, which means that you owe more on your mortgage than your house is worth.

If you choose to remortgage while in negative equity, you will be required to pay the difference between the existing mortgage and the new mortgage.

Even if you are not in negative equity, remortgaging is still likely to incur various costs which you will need to factor in when considering how much money you will save overall by moving mortgages. Unless your existing mortgage term has come to an end, you are likely to be charges an exit fee in order to switch mortgages.

It is therefore worth checking to see if the cost of the exit fee will be balanced out by the savings you make by remortgaging. In addition to potential exit fees, you will also need to budget for the usual costs of property buying, such as arrangement fees, legal fees and valuation costs.

The remortgage process is not as expensive as the process of getting a mortgage in the first place, but it can still amount to a substantial cost and this should be considered carefully before taking the plunge.

Click here for Remortgage Quotes & Advice »

Depending on your circumstances, remortgaging could save you money each month or allow you to release substantial equity in your home.

What difficulties could I face when trying to get a remortgage with a poor credit score?

Understandably, remortgage lenders need to minimize the financial dangers that they take on when they lend out a lot of cash for a remortgage. This means that when you apply for a remortgage deal, your past credit history will be taken into account with a specific end goal to figure out what sort of borrower you have been in the past and if you have a decent history of making timely payments on previous debts. Obstructions to getting a remortgage with poor credit score could include:

  • Having a background marked by missing mortgage payments
  • Having a background marked by missing rental instalments
  • Having a background marked by missing credit card payments
  • Having a current or expired County Court Judgment (CCJ) against you
  • Having been bankrupt in the past
  • Having no borrowing history

While you are searching for remortgages with poor credit score you should be practical in your estimation of the kind of interest rates that you might be offered. Probably the most widely recognized features of remortgages with poor credit score include:

Higher interest rates - Interest rates on poor credit remortgages are almost always higher than those offered on standard remortgages

Higher deposit needed - You will ordinarily be asked to provided a deposit or equity of around 25% or 30% of the property's value, contrasted with a standard remortgage deal which you may be able to access with 5% to 10% deposit or equity

What are the most effective methods to enhance my credit rating before I apply for a poor credit remortgage?

It is a smart move to check that your credit rating is as good as it can be, and is presented in the best possible light, when it comes to applying for a poor credit remortgage. Regardless of the current poor state of your credit record, there may in any case be things that you can try to enhance your shot of getting a good remortgage deal. Some ways to try and improve your credit rating could include:

  • Check that you are on the electoral register
  • Make sure that your current address and personal information is up to date and points of interest are totally up and coming
  • Check your credit record to make sure that there are no mistakes that are making your credit history look poorer than it truly is
  • If you have credit cards, attempt to pay off as much as you can before you apply
  • If you have several old, unused credit cards, it is often a good idea to cancel at least some of them 

How could a remortgage with poor credit score enhance my credit score in the future?

When you have got the remortgage for poor credit score that you want, this could help you to repair your credit rating over the long haul. In the event that you make all your remortgage payments in full and on time throughout the following couple of years, and have no further defaults on other debts, this can really help to improve your credit rating. This could help when you come to apply for a further mortgage deal in the future as you may be eligible for better rates. 

At Fair Mortgages our team of independent, whole of market mortgage experts can discuss your remortgage requirements and help you to find the most suitable remortgage deals – call us today on 0117 332 3389 or to speak to one of our mortgage advisers click here »

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