Award Winning Remortgage Deals

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Award Winning Remortgage Deals

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Remortgage Deals

At MortgageKey, it’s our duty to discover the best remortgage deals to suit you and your circumstances. Our friendly, professional and experienced advisers are on hand to guide you through the entire remortgaging process. Speak to them today, and discover the way towards the perfect remortgage product.

"Up-to-date, relevant and reliable information gave me the confidence to proceed "
"Honestly, one of the best customer experiences I've had"
"Fantastic and friendly staff"
"Up-to-date, relevant and reliable information gave me the confidence to proceed "
"Honestly, one of the best customer experiences I've had"
"Fantastic and friendly staff"

About Remortgage Deals

Within a mortgage product, you will discover that there are several remortgaging options. The best remortgage deal will depend entirely on your individual situation. The fact each person’s circumstance is slightly different means that there are an abundance of remortgage deals to suit. The best remortgage deal for you may mean your monthly repayments are fixed so that they stay the same each month. However, you may prefer a fluctuation based on the variable rates on offer. The main types of remortgage deals are as follows:

  • Tracker Remortgage Deals

    If you’re considering remortgaging with a tracker mortgage it’s important you understand how it works. Tracker mortgages track the Bank of England base rate, applies it, and adds an additional set percentage rate. For example, if you select a remortgage deal with a 2.5% set percentage rate from the lender and the Bank of England’s base rate was 0.3%, your payable mortgage deal would be 2.8%. However, if the base rate dropped as low as 0.15%, you would benefit from a reduced rate. Although the same applies if the base rate rises, making it more costly.

  • Fixed Rate Remortgage Deals

    Fixed rate remortgages could stabilise your monthly payments to the same amount each month, regardless of what’s happening to the Bank of England base rate or the property market. This can give you peace of mind. When arranging your remortgage deal, you can agree a set rate for a certain period. Typically, this fixed rate ranges from two to five years. It is possible to fix it for longer, should you want to, however, it’s advisable to asses the market every so often to see if you can secure a better remortgage deal.

  • Discounted Remortgages

    Discounted remortgages offer an upfront discount off the lender’s Standard Variable Rate (SVR). This is usually for the first few years of your mortgage deal, before it switches back to the SVR. Your lender’s SVR is subject to change, making your payments increase or decrease throughout the term of your mortgage deal.

  • Capped Remortgage Deals

    Remortgaging to a capped rate mortgage means you will be on a variable rate, so your monthly repayments could fluctuate. However, the rate can be capped so that it will never go above a certain limit. You may choose this remortgage option, if you are under the impression that mortgage rates will fall, so you can reap the rewards. But, at the same time, if you want that added protection, there’s a cap in-case they increase.

  • Offset Remortgage Deals

    The idea behind an offset remortgage is to use any savings you have to reduce the amount of interest you pay overall. Imagine you have a £250,000 mortgage and £45,000 in additional savings. You can offset these savings against your mortgage so that you only pay interest on £205,000 of your remortgage deal. The savings are still accessible whenever you choose, but that’s what makes rate on offset mortgages slightly higher than standard mortgages.

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  • Get a quick idea

    Our mortgage advisors are available Mon-Fri from 9am to 8pm, giving you plenty of opportunity to seek a quick overview of what your mortgage deal could potentially look like.

  • Speak to the experts

    A dedicated team of mortgage experts will answer your questions, queries and provide quality advice for your personal circumstances and the specific mortgage product suited to you.

  • Let us do the hard work

    We’ll take care of your application to your chosen lender from start to finish, in record time - taking away the stress and making the process pain free!

How do you know which Remortgage Deal is best for you?

The best remortgage deal for you is entirely dependent on your individual circumstances. From your income and expenditure to the type of property you are interested in, each aspect is an important factor in securing you the best remortgage deal. Whether you select a repayment mortgage, or an interest only mortgage, can play a big part too. Luckily, the team at MortgageKey are here to help and talk you through the options available to you.

What else is there to consider, when looking for the best Remortgage Deal?

Self Employment: If you are self-employed, the remortgage deals on offer may be somewhat restricted because you are seen as more of a risk to the lender. You will also need to provide at least 3 years of accounts too.

Credit Checks: Remortgaging means that, once again, you will need to prepare yourself for rigorous financial assessment throughout the process. Your credit history will be checked, so make sure you check it for errors before applying. County Court Judgements and missed repayments can contribute to a poor credit score.

Fees: Unfortunately, you can’t avoid set-up fees, even on the best remortgage deals. Not only should you be aware of them, but you should budget for them too; they can soon add up. Arrangement fees and booking fees are standard when buying a home. Exit fees or Early Repayment Charges (ERCs) can be applied should you opt out of your mortgage before the term end. Although, it is worth noting that sometimes, on smaller properties, a mortgage deal with higher rates but lesser fees can work out cheaper.

Length of Mortgage: To get the best remortgage deal, you have to choose a mortgage term that suits you. The shorter your mortgage term, the less interest and the quicker you will pay it off but your monthly repayments are likely to be higher, compared to a longer term mortgage.

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