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        Updated: May 22, 2023

        Best Remortgage Rates

        Whatever your reason for remortgaging, our in-depth guide to getting the rate on a remortgage is invaluable in making sure you secure the lowest deal possible.

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        We can help! We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in Remortgages. Ask us a question and we'll get the best expert to help.

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        Pete Mugleston

        Author: Pete Mugleston - Mortgage Expert, MD

        Updated: May 15, 2023

        There are several reasons why you might be looking to remortgage but ultimately, they all come down to one factor – reducing your overall borrowing costs by selecting the best interest rates. To do this, you need to compare what’s available in advance of your existing deal coming to an end.

        The table below gives you an illustration of some of the best remortgage interest rates – both fixed-rate and variable – currently on offer at the moment.

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        Looking for more rates and deals?

        We can match you with a mortgage broker who can provide you with up-to-date bespoke rates and deals from across the entire market and help you secure the best ones available.

        Last updated May 2023

        The rates quoted above were correct at the time of writing (May 2023) and are subject to change at any time at the lender’s discretion. Speaking to a mortgage broker is the best way to keep track of the rates available at any given time.

        Which is the best type of interest rate deal to choose right now if you’re remortgaging?

        This all really depends on your own personal situation and also what type of mortgage you have. Analysts predict the base rate will continue to rise in 2023, with tracker rates following suit and standard variable rates (SVRs) likely to rise too. Fixed rates are expected to come down.

        But that doesn’t mean the best remortgage rate for you is necessarily a fixed deal. For some borrowers, remortgaging on a variable rate provides the flexibility they want.

        Borrowers with an interest-only mortgage typically find that rate rises have less of an impact on their outgoings, for example, so may prefer a variable rate which benefits them when rates come down. Buy to let remortgages are usually taken out on an interest-only deal to limit monthly outgoings.

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        How to find the best remortgage rates

        Rates tables are always the best way to start your search but once you’ve glanced at what’s available then you should next seek the help of a mortgage broker with experience in the remortgage market.

        They’ll be able to help you with:

        • Calculating the equity / loan-to-value ratio (LTV) you have across your property – this is crucial in determining which remortgage deals you qualify for.
        • Comparing all the remortgage deals across the market including specific offers exclusively available only through a mortgage broker
        • Selecting the deal that’s the right one for your own personal situation and mortgage needs with the cheapest overall terms available

        To speak to a remortgage expert, get in touch with us today and we’ll arrange for an advisor we work with to contact you to discuss your requirements in more detail.

        Remortgage comparison calculator

        You can find out what your remortgage payments are likely to be by inputting the relevant data from above and the amount you need to borrow into our remortgage calculator.

        Try a range of rates and mortgages to get a better idea of all your borrowing options. But remember this is just an illustration and you should speak to a broker for a precise remortgage quote.

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        Get started with an expert broker to find out how much they could help you save on your mortgage repayments.

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        Could the best remortgage deals also come with no upfront fees?

        Potentially, yes. Generally though mortgage lenders will look to offer lower rates for deals with an upfront fee and slightly higher interest rates for deals without. But this is exactly where a mortgage broker can prove to be invaluable.

        If your specific requirements are finding the best remortgage deals specifically without any upfront fee then they will focus solely on finding you those particular offers.

        Best mortgage lenders for debt consolidation

        Which lender is best for a debt consolidation mortgage depends on several factors. If you’re looking to roll all your debts into your mortgage because payments are becoming difficult to manage, you may need to look for a provider who offers a high LTV.

        For debt consolidation remortgages up to 90% LTV, there is a wider choice of lenders and you may get a lower rate.

        Providers offering this type of loan include:

        • Saffron
        • Digital Mortgages by Atom Bank (may even potentially go up to 95% LTV)
        • Kent Reliance
        • Mansfield Building Society
        • Tandem Specialist Mortgages

        Can you still qualify for the best remortgage rates if you’ve had bad credit?

        This will depend on the nature of the bad credit and how long ago it was. With a strong application, minor historic debt problems and significant equity, you may still qualify for the best rates.

        If your debt problems are ongoing and you’re looking to remortgage to solve them, or if you’ve had more severe issues  such as CCJs or repossession, you’re unlikely to get the best rates on the market. In this instance, a specialist bad credit mortgage broker may be your best bet.

        Why use Online Money advisor for your remortgage needs?

        The brokers we work with have whole of market access and will scour the entire UK mortgage market to get you the best possible remortgage deal available.

        What’s more, our unique broker matching service is designed to find the right broker for your needs. To get matched with your ideal broker call today on 0808 189 0463 or enquire online.

        Ask a quick question

        We can help! We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in Remortgages. Ask us a question and we'll get the best expert to help.

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        Pete Mugleston

        Pete Mugleston

        Mortgage Expert, MD

        About the author

        Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

        Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

        FCA Disclaimer

        *Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms that are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

        Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.