Posted October 2, 2026

Residential and Buy to Let Re-mortgages

For most homeowners and landlords, a mortgage is likely to be their largest financial commitment. Yet many people stay on their existing lender’s standard rate when their deal ends, often paying more than they need to.

Whether you own your home or let out one or more properties, reviewing your mortgage before your current deal expires could save you money and give you greater control over your finances.

What is a re-mortgage?

A re-mortgage means switching your existing mortgage to a new deal. This could be with your current lender (known as a product transfer) or with a new lender. The property stays the same; the mortgage secured against it changes.

Why do people re-mortgage?

There are a number of common reasons to review your mortgage, including:

• Your current fixed or discounted rate is coming to an end
• You want to release equity for home improvements or other purposes
• You wish to consolidate borrowing
• Your property value has increased, giving you a lower loan to value
• You would like to change the term or repayment type
• Your circumstances have changed since you took out the original mortgage

Residential re-mortgages

If you are a homeowner, the right time to review your mortgage is typically around six months before your current deal ends. Many lenders allow you to secure a new rate well in advance, which can help protect you against rate movements while you decide.

Lenders will consider your income, your credit profile, your existing commitments and the value of your property. Understanding how these factors are assessed can help you establish a realistic picture of the options available.

Buy to let re-mortgages

Buy to let re-mortgages are assessed differently. In addition to your personal circumstances, lenders will usually look closely at the rental income the property generates and whether it meets their affordability requirements.

Landlords with a single property, a larger portfolio or properties held within a limited company may all face different criteria. Lender policies can vary considerably, which is why specialist advice is particularly valuable here.

What costs should you consider?

A lower rate is not the only factor. It is important to consider the whole picture, including:

• Early repayment charges on your existing mortgage
• Arrangement and product fees
• Valuation and legal costs, where applicable
• Whether any incentives, such as free valuations or cashback, are offered

Looking at the overall cost over the length of the deal will give you a clearer comparison than the headline rate alone.

Why speak to a broker?

The mortgage market is wide and lender criteria change regularly. A broker can compare options across the market, explain how different lenders are likely to assess your circumstances, and manage the application on your behalf, saving you time and avoiding unnecessary applications.

Getting started

If your current deal is due to end in the next 6 to 12 months, or you simply want to know whether a better option is available, speak to us early. We can review your circumstances and help identify the options that may be available to you, whether you are a homeowner or a landlord.

For more information contact our Senior Mortgage Adviser, Travis Alcott, on 01270 620 555 or email travis@watts-ifa.com