Glossary · Mortgages
Remortgage
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Definition: Switching your mortgage to a new deal with the same or a different lender — usually when your current fix or tracker is about to end.
Most fixed-rate deals end with a reversion to the lender's Standard Variable Rate. Lining up a remortgage 3–6 months ahead avoids paying SVR. A product-transfer with the same lender is usually quicker than switching lender.