Remortgage in Northern Ireland
Could you save money by switching your mortgage? Whether you're coming to the end of a deal, stuck on SVR, or want to release equity, we can help you find a better rate.
Important: Your home may be repossessed if you do not keep up repayments on your mortgage.
Reasons to Consider Remortgaging
There are several ways remortgaging could benefit you financially
Get a Better Rate
If rates have dropped or your equity has increased, you could qualify for a lower rate than you're currently paying.
Avoid SVR
When your deal ends, you'll move to SVR (typically 7-8%). Remortgaging to a new deal can save thousands.
Release Equity
Access the value built up in your home for renovations, investments, or other purposes.
Consolidate Debt
Replace high-interest debts with a lower mortgage rate (though note you'll pay interest over a longer term).
Think carefully before securing other debts against your home. Consolidating debt may reduce your outgoings now, but you may end up paying more overall.
How Much Could You Save?
The savings from remortgaging can be significant, especially if you're on SVR. Here's a typical example:
On a £150,000 mortgage, switching from SVR to a competitive fixed rate could save you over £3,000 per year. We calculate the total cost including fees to show you the true picture.
Get Your Personal QuoteExample Savings
Mortgage balance: £150,000 over 20 years
Example only - actual rates depend on your circumstances
When to Remortgage
Start looking at remortgage options 3-6 months before your current deal ends. This gives you time to:
Compare deals across the market
Complete the application process
Avoid any gap where you'd pay SVR
You might also consider remortgaging if:
- Interest rates have fallen significantly since your current deal started
- Your property has increased in value, improving your LTV
- Your income has increased, making you eligible for better deals
- You need to release equity for home improvements or other purposes
Product Transfer vs Full Remortgage
When your deal ends, you have two main options. Here's how they compare:
| Factor | Product Transfer | Full Remortgage |
|---|---|---|
| Lender | Stay with current lender | Switch to new lender |
| Application | Simplified, often no affordability check | Full application required |
| Valuation | Usually not required | Required (often free) |
| Legal work | None required | Solicitor needed (often free via lender) |
| Speed | Fast (days) | Slower (4-8 weeks) |
| Rate choice | Limited to current lender | Wide range of lenders |
| Additional borrowing | May be limited | Full equity release possible |
Our recommendation: Always compare a product transfer against remortgaging to a new lender. We can show you both options so you can make an informed decision.
Remortgage Costs
Understanding the costs involved helps you calculate whether remortgaging makes financial sense:
Arrangement Fee
£0 - £2,000 (can be added to loan)
Valuation Fee
Often free with many lenders
Legal Fees
Many lenders offer free legal work or cashback
Early Repayment Charge
Check your current mortgage terms
Exit Fee
Typically £50-£300 from your current lender
We calculate the total cost of remortgaging versus staying where you are, so you can see clearly whether switching makes sense for you.
Jordan Willis
Mortgage & Protection Advisor
With extensive experience in the Northern Ireland mortgage market, Jordan specialises in helping first-time buyers and those with complex circumstances find the right mortgage solution.
Qualifications
Specialisms
- First-Time Buyers
- Remortgages
- Protection
When Does Your Deal End?
CGR Financial Ltd is an Appointed Representative of PRIMIS Mortgage Network. First Complete Ltd is authorised and regulated by the Financial Conduct Authority.
Related Services
What Our Remortgage Clients Say
See how we've helped homeowners save money
"Working with CGR Financial has been such a positive experience. Jordan and Nadine were incredibly supportive throughout the entire mortgage process, guiding us with clear advice and making sure I understood every step along the way."
"Jordan and Nadine were super efficient in sorting my mortgage. Took care of every little detail making the process simple for me."
"From day one, Jordan explained everything in clear detail and made the whole mortgage process so much easier to understand. He guided me step by step, always available to answer any questions I had."
Remortgage FAQs
Could You Save by Remortgaging?
Get a no-obligation review of your mortgage. We'll show you whether switching could save you money.