Here at Clifford Davis we are on hand to ensure you make the right choices when taking out a new mortgage. Below you will find some of the options we are likely to discuss.

Whilst your mortgage term might be 25 or 30 years in total, your initial ‘product’ term is likely to be much shorter, perhaps 2 or 5 years. When, for example, your 2-year fixed rate has expired, your mortgage rate will revert to your lender’s standard variable rate (SVR). If the SVR is higher than other rates available in the market, it would probably be appropriate to consider a remortgage.

The process of remortgaging is not as arduous as your initial property purchase. Remember, the property title is already in your name, you are simply moving to an alternative lender.

When remortgaging, you may also wish to ‘release’ funds from your property. This could be for almost any reason, the most popular being for home improvements and/or debt consolidation.

We will schedule a meeting with you, 6 months before the end of your product rate. At this stage we can discuss your requirements, before researching available rates across the rest of the market. We offer a comprehensive service for remortgages, many of which come with bonus features such as fee free remortgage packages.


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About Clifford Davis

Clifford Davis is a premier provider of property-related financial advice. Based in Barnet, North London, we pride ourselves on being able to advise and to provide guidance in all areas of property-related finance.

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Frequently asked questions

Answers to the most common question we get asked
What is remortgaging in the UK?
Remortgaging refers to the process of switching from your current mortgage to a new one, typically with a different lender or a new deal offered by your existing lender. This is done to secure better interest rates or terms.
What are the costs associated with remortgaging in the UK?
Costs can include arrangement fees, valuation fees, legal fees, early repayment charges if you're still within a fixed-term deal, and exit fees. It's essential to calculate these costs against the potential savings to determine if remortgaging is worthwhile.
Can I remortgage with bad credit in the UK?
It can be more challenging to remortgage with bad credit, but it's not impossible. Lenders may have options for those with poor credit, although interest rates may be higher. Consulting a mortgage advisor is advisable in this situation.
How do I apply for a remortgage in the UK?
Applying for a remortgage in the UK is similar to applying for a new mortgage. You'll need to provide financial documents, complete an application, and go through a credit check. A solicitor or conveyancer is usually required for the legal aspects.
What is a "portable" mortgage in the UK?
A portable mortgage is one that you can take with you when you move to a new property. This can be convenient if you plan to relocate during your mortgage term.
When is the right time to consider remortgaging in the UK?
It's a good time to consider remortgaging when your current mortgage deal is about to end or if interest rates have fallen significantly, which could result in cost savings. You might also consider remortgaging if you need to release equity or your financial situation has changed.
How do I find the best remortgage deals in the UK?
To find the best remortgage deals, it's recommended to use comparison websites, work with a mortgage broker, or contact lenders directly. The right deal depends on your financial situation and objectives.
What is a product transfer, and how does it differ from remortgaging?
A product transfer is when you switch to a new mortgage deal with your existing lender without changing lenders. It can be quicker and involve fewer fees than a full remortgage, but it may not offer the best rates available on the market.
Can I switch from an interest-only mortgage to a repayment mortgage when I remortgage?
Yes, it's possible to switch from an interest-only mortgage to a repayment mortgage when you remortgage. Lenders may require you to demonstrate a viable repayment strategy for the interest-only portion.
Is remortgaging a property in the UK subject to stamp duty?
No, remortgaging a property in the UK is generally not subject to stamp duty. Stamp duty is typically associated with property purchases rather than refinancing.
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