Remortgage Advice in Bournemouth*
Fixed rate ending? Review your options before you move onto your lender's Standard Variable Rate. We search the whole of market to help you find a deal that suits your circumstances.
*We are based in Bournemouth and advise clients here and across the whole of the UK. Where this page refers to Bournemouth, the information applies equally to remortgages elsewhere in the UK unless stated otherwise.
Many lenders let you lock in a new mortgage rate up to six months before your current fixed deal ends, although the period available varies by lender. If you do nothing, you will usually move onto your lender's Standard Variable Rate (SVR) when your deal ends, which is often more expensive than a new fixed or tracker product. NexMoney compares a wide range of lenders (including your current one) and manages the switch for you. Whether a remortgage reduces your payments will depend on your circumstances, your existing deal and the products available at the time.
Remortgage vs product transfer — we check both
Your existing lender may offer you a product transfer: a new rate with minimal paperwork. Sometimes that is the right answer — it is usually quicker and does not normally require re-underwriting. In other cases a full remortgage to a different lender may work out better once all fees are taken into account. As whole-of-market brokers we compare your lender's retention deals against the wider market and recommend the option we consider most suitable for your circumstances — we are not tied to either outcome.
The right time to act
We recommend reviewing your mortgage around six months before your current deal ends. This allows time to explore your options and, where available, secure a new deal in advance. If interest rates improve before your existing deal expires, we can review the market again and, where your lender's criteria allow, switch to a more suitable product. Leaving your review until the final month may reduce the options available and could increase the risk of moving onto your lender's Standard Variable Rate (SVR) if a new mortgage isn't in place before your current deal ends.
Release equity while you switch
A remortgage can also be a moment to raise capital — for an extension or renovation, a deposit on a second property or buy-to-let, or to consolidate other debt. Lenders will assess affordability on the new, higher balance, and rolling short-term debt into a 25-year mortgage can cost more overall even at a lower interest rate. We will always show you the total cost both ways before you decide.
Think carefully before securing other debts against your home. The overall cost of repayment of other debts might be more when added to your mortgage. Your home might be repossessed if you do not keep up repayments on your mortgage.
Why Bournemouth homeowners use us
We have helped clients across Bournemouth, Poole, Christchurch and the wider UK review their mortgages — see our client reviews. The amount any individual client saves depends entirely on their own circumstances and the products available to them at the time. You will usually work with one dedicated adviser, we are often available in the evenings and at weekends, and we diarise your next rate-end date and will contact you ahead of time to help you avoid moving onto your lender's Standard Variable Rate (SVR), where possible.
Risk warnings
Your home may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Think carefully before securing other debts against your home. The overall cost of repayment of other debts might be more when added to your mortgage. Your home might be repossessed if you do not keep up repayments on your mortgage.
Or estimate your new payment with our repayment calculator.
Your questions, answered
When should I start my remortgage?
We recommend reviewing your mortgage around six months before your current deal ends. Many lenders allow you to secure a new rate in advance, although the period available varies by lender. If rates improve before completion we can review the market again and, where your lender's criteria allow, switch to a more suitable product.
What happens if I do nothing when my fix ends?
You will usually move onto your lender's Standard Variable Rate (SVR), which is often more expensive than a new fixed or tracker deal. The SVR can change at any time.
Remortgage or product transfer — which is better?
It depends on your circumstances. A product transfer is usually quicker with less paperwork; a full remortgage may give access to different pricing or additional borrowing. We compare both, including all fees, and recommend the option we consider most suitable for you.
Does remortgaging cost anything?
Some deals include a valuation and legal work as part of the product; others do not. Lender fees, valuation fees and legal costs vary by product, and we build them into the cost comparison upfront.
Typically, we charge a fee of £375 for arranging a mortgage but will also depend on your circumstances. The fees may be waived subject to the terms of the fee waiver agreement.
Can I release equity when I remortgage?
Additional borrowing may be possible — for example for home improvements, a deposit on a second property, or debt consolidation — subject to lender criteria and affordability. We'll show the full-term cost implications before you commit.
Think carefully before securing other debts against your home. The overall cost of repayment of other debts might be more when added to your mortgage. Your home might be repossessed if you do not keep up repayments on your mortgage.