Even though you found the perfect mortgage, your rate of interest and monthly payments won’t remain fixed indefinitely. In fact, mortgage deals change frequently and can sometimes result in a homeowner being moved onto a product with a higher interest rate.

This means that your repayments will increase, which can seriously affect your cash flow and lifestyle. Don’t worry though, as remortgaging is a way to ensure that you always remain on a mortgage rate that suits you.

What is a remortgage?

Remortgaging involves applying for a new mortgage, which in the process will pay off your current one. Common examples of  are when an existing mortgage deal has expired or is about to, which will mean moving onto a different interest rate that could be noticeably higher.

If you decide that you’re unhappy with the lender’s Standard Variable Rate and the larger monthly payments that will result, remortgaging is the key to maintaining a mortgage rate that aligns with your needs. It’s a helpful solution to ensure your repayments stay manageable, safeguarding your cash flow and lifestyle.

What happens if I don’t remortgage?

Choosing not to remortgage when your existing mortgage terms expire isn’t the end of the world but it could cost you a lot of money, especially over the course of a few years. Our philosophy is that you should never pay more for your mortgage than you have to, which is why we’re committed to helping you remain on a competitive rate of interest and stay in control of your mortgage.

Can I increase my mortgage borrowing?

This is often an option and we’ll help you to decide if it’s the right route to take. Taking out a larger mortgage should only be done if you’re planning a significant home improvement project or need to pay for a major life event such as a wedding. If you do decide to increase your borrowing whilst remortgaging, your credit profile, income, expenditure and the equity in your home will all affect how much you can borrow.

Sometimes borrowing more may not be an option. However, we’ll make sure that your new mortgage is the best deal available and that you’re happy with your future monthly payments.

Product Switch or Transfer
Charlie Nicholls - Mortgage and Protection Adviser (CeMAP CeRER DipFA)

Product Switch/Transfer

If you reach the end of your mortgage deal, you don’t always have to remortgage to a new lender. We can also approach your current lender to find out what other deals they have available for you to switch to. This is referred to as a product transfer or “switch”. It involves no underwriting, no broker fees and usually very little paperwork.

“We used SN Financial when our mortgage rate expired and were very pleased with the service. Charlie Nicholls was our adviser and he was incredibly diligent, constantly keeping his finger on the pulse of the market and providing us with updates. This resulted in 3 consecutive rate reductions.”  Ben Lockwood


Your home may be reprocessed if you do not keep up repayments on your mortgage.

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Financial advisory in Worcestershire and Kent

Based in Droitwich Spa, we’ve proudly supported clients of all ages since 2004. The opening of our second office in Sevenoaks allowed us to extend our bespoke financial services even further, making SN Financial a trusted financial adviser for individuals, couples, families and businesses across Worcestershire, Kent and the rest of the UK.

Droitwich Office

5 Saltway, Droitwich, Worcestershire, WR9 8LB
01905 779697

Sevenoaks Office

46 Holly Bush Lane, Sevenoaks, Kent, TN13 3TL
01732 926255