Remortgaging means moving your mortgage from your current lender to a new lender, without moving home. People remortgage for different reasons, including finding a new deal, changing their mortgage or borrowing more.

You don’t need to wait until your current mortgage deal ends. Reviewing your options 4-6 months in advance gives you time to understand what’s available and plan what you want to do next, particularly if your current deal has an early repayment charge.

When a fixed-rate mortgage ends, you’ll usually move onto your lender’s follow-on or variable rate unless you arrange another deal. You could switch to another product with your existing lender, remortgage to another lender or consider whether another option better suits your plans.

There isn’t one answer that suits everyone. Staying with your current lender may offer a simpler route, while remortgaging could give you access to different products, rates or features. I can help you compare the options and understand what’s suitable for your circumstances.

You may be able to increase your mortgage when remortgaging. How much you may be able to borrow will depend on factors including your income, expenditure, credit history, property value, existing mortgage and lender affordability and criteria.

“Taking equity out” generally means borrowing more against the value of your property — the equity itself isn’t simply withdrawn as cash. You’ll need to apply for the additional borrowing and it will be subject to affordability, credit checks and lender criteria.

Lenders normally limit the total amount they’ll lend in relation to your property’s value, known as loan-to-value (LTV). Limits vary between lenders and can also depend on what the additional borrowing will be used for. Having equity therefore doesn’t necessarily mean you’ll be able to borrow all of it.

You may be able to borrow more to fund home improvements such as renovations or an extension. The amount available will depend on your circumstances, affordability, property value and the lender’s criteria.

If you apply for a new mortgage, the lender will assess your application and this will usually include a credit check. Changes to your finances or credit history since you arranged your existing mortgage can therefore be relevant when you remortgage.

Potentially. Changes to your income, employment, expenditure or financial commitments don’t automatically mean you can’t remortgage, but they may affect the lenders and mortgages available to you. Different lenders have different affordability assessments and criteria.

Potentially. Adding or removing a borrower is usually known as a transfer of equity and will be subject to the lender’s criteria and affordability assessment. There can also be legal and tax considerations depending on the circumstances.

Yes, you can explore remortgaging before your current deal ends, although leaving your existing mortgage early could result in an early repayment charge. Starting the conversation early can help you understand your options and when it could make sense to make a change.

Switching your mortgage rate usually means choosing a new deal with your existing lender, often called a product transfer. Remortgaging means moving your mortgage to a new lender. Staying with your current lender can sometimes be simpler, but it’s worth understanding how their deal compares with other options before deciding what’s right for you.