How to Find the Best Remortgage Deals in 2025

1. Start Early – Don’t Wait Until the Last Minute

The best time to start looking for a new deal is around six months before your current mortgage deal ends. Many lenders allow you to lock in a rate that far in advance. By starting early, you avoid moving onto your lender’s Standard Variable Rate (SVR), which is usually higher. 

2. Assess Your Current Deal and Lender Offers

Before diving into the market, check what your existing lender is offering. Sometimes staying with your current provider can be the easiest and most cost-effective option. Known as a product transfer, this involves switching to a new deal without needing a full application. However, don’t assume it’s the best rate available – always compare it to deals on the market. Here at Campbell Financial we can help you with just that, we'll present you with your options that include broker exclusive deals that aren't available directly to you on your own, leading nicely on to point 3.

3. Work with a Mortgage Broker

Mortgage brokers have access to exclusive deals that aren’t available directly to consumers. They can compare hundreds of products across different lenders, saving you time and effort. Brokers can also advise you on the best deal for your situation, considering factors like fees, loan terms, and repayment flexibility.

4. Consider the Total Cost, Not Just the Rate

A lower interest rate isn’t always the cheapest option. Some remortgage deals come with arrangement fees, valuation fees, and legal costs that can add up. Always calculate the overall cost of the remortgage over the fixed or initial period to ensure you're making the best financial decision. At Campbell Financial we take this a step further, considering the total cost of the initial term in combination with the associate fees is not enough. The impact of your interest rate on your mortgage balance and the payments you make towards your mortgage during the initial term matter. We factor in your mortgage balance at the end of the initial term as part of our assessment so you are left with the lowest possible mortgage balance at the end of the initial term as well as arranging a good deal with all other things considered.

5. Check your credit report

This is something normally overlooked by clients who have mortgages already. Maintaining your credit is not just important for first time buyers! It's just as important for when the time comes to remortgage. So making sure your credit is in good shape is something you should be doing regularly. Keep an eye out for any errors and it's a good way to make sure all of your addresses are kept up to date with all of your active accounts. If your credit isn't in great shape, you may be stuck arranging a new deal with your existing lender and missing out on more competitive options elsewhere.

6. Factor in Your Loan-to-Value (LTV) Ratio

The lower your Loan-to-Value ratio, the better the remortgage deals you’ll qualify for. If your property has increased in value since your original mortgage, your LTV may have decreased. Request an updated valuation to see if you fall into a lower LTV bracket, which could open up more competitive rates. If you are remortgaging to a new lender, the valuation will form part of your new application anyway.

7. Evaluate Fixed vs. Variable Rates

Assess your financial stability and appetite for risk before choosing between fixed and variable options. It makes sense to speak to a mortgage broker to determine your suitability for either option and how long to arrange the deal for.

8. Look Out for Incentives and Cashback Offers

Some lenders offer cashback, free valuations, or legal fees as part of their remortgage packages. While these perks are attractive, ensure they don't mask a higher interest rate or hidden costs.

9. Consider Your Future Plans

If you plan to move or pay off your mortgage early, opt for deals with minimal early repayment charges or exit fees. Flexibility can be just as valuable as a low interest rate if your circumstances are likely to change.

"Finding the best remortgage deal in 2025 requires careful planning, comparison, and understanding of your financial goals. By working with a broker, starting early, and considering all aspects of the deal, you can secure a mortgage that aligns with your needs and saves you money in the long run. If you’re thinking about remortgaging, contact Campbell Financial today – we’re here to help you find the best deals and guide you through the process smoothly."

Sheena Campbell