Best remortgage rates: how to compare and what to look for

When your current mortgage deal is coming to an end, it’s a good time to review what you’re paying and explore alternatives. The “best remortgage rate” isn’t always the one with the lowest headline interest rate, it’s the option that works out best for your circumstances once you consider fees, the repayment structure, and how long you plan to stay on the new deal.

This guide explains what influences remortgage pricing, how to compare deals properly, and what to expect from the remortgaging process.

Remortgage rates: what actually affects the price

Lenders set remortgage rates based on a combination of borrower and property factors. While each lender has its own approach, the following elements commonly influence what you can access:

Loan-to-value (LTV): how much you’re borrowing compared with your property value. Lower LTVs often open up more competitive options.
Your credit profile: affordability and credit history are assessed as part of the application.
Income and outgoings: lenders need to be satisfied you can afford the new repayments.
Mortgage type and term: fixed-rate, variable-rate, and the length of the term can change the overall cost.
Product features: some deals include benefits (such as overpayment allowances) while others may have restrictions.

Because these factors can shift since you took your original mortgage, especially if you’ve paid down the balance or your property value has changed, it’s possible to find a different rate bracket than the one you previously qualified for.

Change any value and the other figures will update automatically.

Try an example: £250,000 home with a £25,000 deposit → 90% LTV

Property value

£40,000 £5,000,000

Changing the property value keeps the mortgage amount and recalculates your deposit or equity and LTV.

Deposit or equity

£0 £250,000

Mortgage amount

£0 £250,000

Loan-to-value

90%

0% 100%

Your loan-to-value

90%

A £225,000 mortgage on a £250,000 property.

90%

90% mortgage 10% deposit or equity

Search mortgages with these figures

Starts with a residential purchase. You can change the mortgage type and purpose in the search.

No mortgage borrowing needed

With these figures, the property value is fully covered by your deposit or equity. No mortgage borrowing is required.

Small mortgage amount

Fewer lenders offer mortgages below £25,000, so your options may be limited. Product and legal fees can also have a greater impact on the overall cost of a smaller mortgage.

Low property value

Fewer lenders offer mortgages on properties valued below £50,000. Minimum property values vary by lender and property type.

Buying to let?

If this is a buy-to-let purchase, most lenders cap borrowing at 75–80% loan-to-value, with some specialist options reaching 85%. This cap applies to buy-to-let mortgages only — residential lending typically extends to 95%.

High-LTV residential mortgage

Residential mortgages above 95% LTV have limited availability and often require a specialist mortgage product or scheme. Talk to your mortgage adviser about your options.

No deposit or equity buffer

You have no deposit or equity buffer. A fall in the property's value could leave you owing more than it is worth. No-deposit residential mortgages have limited availability and specific eligibility requirements. Speak to your mortgage adviser.

Comparing remortgage deals: don’t just look at the interest rate

A lower interest rate can be attractive, but it’s only one part of the decision. To compare remortgages accurately, look at the total cost over the period you’re considering, including:

Arrangement fees (sometimes added to the loan, sometimes payable upfront)
Any product fees
Valuation costs charged by the lender
Legal fees (where required)
Early repayment charges (if you might switch again soon)

When you’re comparing options, it helps to consider:

Monthly repayment on the new deal
Total amount repaid over the deal term (not just the first year)
Whether you can overpay and whether there are limits or penalties
How long you expect to keep the mortgage
What happens to payments after the deal ends

Two deals with similar interest rates can work out differently once fees and features are included.

Lowest Rate Remortgage

View more Remortgage offers

These example rates are for an illustrative 75% LTV remortgage. Compare fees and features as well as the initial rate; the deals available to you depend on your circumstances.

Remortgaging with your current lender vs switching

Many borrowers assume that staying with the same lender is automatically the cheapest route. In some cases, it can be straightforward, particularly if your current mortgage product is ending and you can move onto a new one with minimal disruption.

However, switching to a new deal (either with your current lender or a different one) can still be worth exploring because:

your LTV may have improved
your income/outgoings may have changed
lenders may offer different pricing for similar borrowers

The key is to compare what you can get across the market rather than relying on a single-lender view.

59+ lenders

How remortgaging works (what to expect)

Remortgaging is similar to the process of taking out a mortgage, but with extra information about your existing deal.

1) Check your current mortgage terms

Before you apply, review your existing agreement for anything that could affect the switch, such as:

Early repayment charges (often relevant if you’re leaving a fixed rate early)
any product-specific conditions

2) Gather the information lenders will ask for

Lenders typically assess affordability using details such as:

income and employment information
monthly outgoings
existing debts and commitments
property value (and sometimes evidence supporting it)

3) Apply for the new mortgage

Once you’ve chosen a suitable remortgage option, the lender will carry out its own checks, including affordability and valuation.

4) Completion and switching

The timeline can vary depending on complexity and lender processes, but many remortgages complete within a few weeks once the application is underway.

Is remortgaging a good idea?

Remortgaging can make sense when it helps you achieve one or more of the following:

reduce monthly repayments
secure a more suitable fixed rate for stability
change the term to become mortgage-free sooner (or manage payments)
release equity for a specific purpose (where affordability supports it)
consolidate debts, where the overall plan is affordable and sustainable

It may not be worthwhile if the costs of switching outweigh the savings, particularly if you’re close to the end of a deal and can move onto a new product with minimal charges.

How to use a remortgage calculator responsibly

A remortgage calculator can be useful for getting a rough comparison between different scenarios, such as how a change in interest rate or term might affect monthly repayments.

However, calculators typically rely on the information you enter and may not capture every lender-specific cost or feature. For that reason, treat calculator results as a starting point and confirm the full picture with a detailed remortgage review.

Remortgaging and credit score: what to know

Applying for a remortgage involves lender checks. While your credit history won’t usually be affected by simply reviewing options, submitting an application can trigger a credit check.

Maintaining a consistent repayment record and keeping your finances stable can help you avoid unnecessary complications during the remortgage process. You can also review your credit report for errors before applying.

Summary: choosing the best remortgage rate

The best remortgage rate is the one that balances affordability, total cost, and the features that matter to you. By comparing deals beyond the headline interest rate, factoring in fees, repayment structure, and how long you intend to stay, you can make a more informed decision about whether remortgaging is likely to improve your position.