Start with a complete comparison
A mortgage rate is one part of a remortgage decision. Fees and charges can change the overall result. Compare the options over the same relevant period and check what happens when any initial deal ends.
Costs to include
- Monthly repayments and product fees.
- Any early repayment charge on the existing mortgage.
- Legal, valuation and administration costs where applicable.
- Incentives and the conditions attached to them.
Check the term and added fees
Adding a fee to the loan means it can attract interest. Extending the term can reduce the monthly payment while increasing interest paid overall. A lower monthly figure therefore does not settle the comparison.
It may also be worth comparing a new lender with a product transfer offered by your existing lender. The assessment and terms can differ.
Ask for the scope and cost of advice before proceeding, and make sure you understand any charges for leaving or changing a deal.
Sources and further reading
Sources checked on 25 October 2026. General information only; this article is not a personal mortgage recommendation.