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Why is remortgaging such a hot topic?

March, 22nd 2018

This year saw remortgaging rates in the UK hit a 9 year high with the number of both Buy to Let and residential remortgages seeing a marked upturn1. But why is this and what can you do to ensure that you are on the best mortgage product most suited to your needs and circumstances?

Remortgage rates at highest levels since 2008

The remortgaging figures for January are in. They show that the mortgage market has made a significant shift toward remortgaging by homeowners and landlords. In January of this year, the market saw a 20% year-on-year increase in remortgaging activity, as it hit £3.9bn1.

First-time buyer remortgages were 7% higher in January than in the same month a year earlier, borrowing £4bn in total, an increase of 11% year-on-year. While home-mover mortgages rose by 6% to £5.4bn, which was 10% more than the previous January.1

Although the Buy to Let property purchase market saw a downturn of 5% the number of remortgages rose by 18% on last year, which is an increase of 18% year-on-year.

An increase in mortgage activity is doubtlessly expected after the festive season in December. However, these increases in activity are higher than the seasonal fluctuations of last year.

So why is this happening?

There are a number of contributing factors that may be feeding into the rise in remortgage activity.

Fixed rate mortgages products ending

Some borrowers may now be coming to the end of their initial mortgage periods and are now looking to remortgage before they fall onto their lenders Standard Variable Rate (SVR). Avoiding the SVR pitfall could potentially be saving these borrowers a considerable amount of money on their mortgage repayments.

This is particularly relevant for some Buy to Let property owners. As we now reach the 2 year anniversary for the rise in Stamp Duty on second properties, we have seen the landlords who rushed to make new property purchases before the April 2016 deadline, coming to the end of their two year fixed rate mortgages periods. This no doubt having an impact on the upturn in Buy to Let remortgage as mentioned above as they look to remortgage and retain the profitability of their investments.

Mortgage interest rates on the rise

More importantly, although the Bank of England Base rate held at 0.50% today, many market commentators are predicting an increase to 0.75% soon. Along with this, many mainstream mortgage lenders have already increased their interest rates.

With potential further interest rate rises looming, there has never been a more pertinent time for borrowers to review their mortgage requirements and secure mortgage products at more favourable rates2. We advise you to do this sooner rather than later.

How can you find yourself the most suitable mortgage deal?

Talk to one of our highly experience Mortgage Managers today to find out which remortgage rates and products may be available to you. They will take the time to understand all aspects of your situation and will research the market, comparing remortgage deals for you. Through our strong relationships with a range of both private banks and high street lenders, we may be able to find you deals suited to your needs and circumstances, that you are unable to find elsewhere.

If you would like to know which products may be available to you, call us today on 020 7519 4985 or email us at

Want to know more about remortgaging?

To read our 'How to.. guide' on remortgaging click here. We answer some of the questions you may have about remortgaging and how we may be able to assist you.

Your home or property 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.



  • This Month's Top Fixed Rate

    Fixed rate
    Initial rate: 1.33%

    Period: 2 Year

    A variable rate, currently 3.99% which will not go below a floor of 3.49% thereafter
    The overall cost for comparison is 3.60%


    More info
  • This Month's Top Variable Rate

    Variable rate
    Initial rate: 1.24%

    Period: 2 Years

    A variable rate, currently 3.99% which will not go below a floor of 3.49% thereafter
    The overall cost for comparison is 3.60%


    More info

    Get This Rate

Some of this month's top interest rates are listed above; the actual rate will depend on your circumstances. Please note that this information does not contain all the details you need to choose a mortgage, ask one of our advisers for a personalised key facts illustration on 020 7519 4900. The rate displayed may become out of date at short notice.

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Changes in the exchange rate may increase the sterling equivalent of your debt is a trading name of Ltd, 12 Pepper Street, London, E14 9RP which is authorised and regulated by the Financial Conduct Authority. We are entered on the Financial Services Register No 302228 which can be viewed here: The Financial Conduct Authority does not regulate some aspects of buy to let mortgages, overseas mortgages and tax advice. Help and advice in regards to mortgages is available at Limited is registered with the Guernsey Financial Services Commission, reference number: 2269418, as a Non-Regulated Financial Services Business.

A typical fee of 1.17% of the mortgage amount is payable. Of this, 20% is payable on application and the balance of 80% on completion. For example on a mortgage application of £300,000 the fee would be £3,510 in total. Of this, £702 (20%) would be payable on application and the balance of £2,808 (80%) on completion. The total fee is non refundable. We may also be paid commission from the lender. The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK. Calls may be recorded for training and monitoring.
You may have to pay an early repayment charge to your existing lender if you remortgage. Ltd Registered in England and Wales No: 5070990 Registered Address: Bridge House, London Bridge, London, SE1 9QR. 2005-2017. All rights reserved.