Head of Content
Mortgage Advisor & Director
There are many remortgage deals on the market - from fixed-rates to tracker agreements - so how do you begin comparing them? Here, you’ll learn how to navigate the market, find the best rate, and secure it quickly.
How do you compare remortgage rates?
The best way to compare remortgage deals is with the help of a whole-of-market broker. There are more than 200 mortgage lenders in the UK, and they each offer a wide range of products. You will need to be thorough when searching through these deals in search of the best one.
One of the most common mistakes that homeowners make when renewing their mortgage is failing to shop around properly. Some go straight to their existing lender, while others do a quick search on Google and barely scratch the surface of the remortgage market.
This means the rates and deals on your radar will be limited, and the chances of landing the lowest rate available are slimmer. But with an independent broker on your side, you will have access to every remortgage product out there, including exclusive deals and rates from intermediary-only lenders who do not accept direct applications from the general public.
Getting started
Your remortgage broker will do all of the legwork comparing rates across the market for you, but before you get started, it doesn’t hurt to do some homework yourself.
You can compare remortgage deals for free through Teito, choose one that fits your requirements and apply for an agreement in principle in minutes. Once you’ve done that, you can take advantage of a free, no-obligation chat with a broker, who will review your case, offer bespoke advice and make sure you’re getting the best deal available. Get started below:
Compare remortgage rates from 90+ lenders for FREE
The benefits of using a broker to compare deals
The only way to get a full overview of the remortgage market is to use a mortgage broker. The table below highlights the benefits of this approach compared to the DIY route.
Comparing Remortgage Deals Yourself | Using a Broker to Compare Remortgages |
Limited access to rates and deals | Access to the entire market |
Deals you find online won’t be bespoke to your needs and circumstances | A broker will round up tailored remortgage deals that match your requirements |
Lenders you approach can only recommend their own remortgage products | Impartial advice about which deal to choose |
Difficult to keep track of rates changes that might occur in the run-up you your application | Your broker will notify you if a lower rate becomes available during your application |
As you can see above, there are plenty of benefits to using a mortgage broker to boost your remortgage search, and choosing this option could save you time and money in the long run.
Fixed-rate vs. variable rate remortgage deals
The tables below show examples of the latest fixed and variable rate mortgages available so you can compare these product types and how they stack up against each other.
Fixed-rate remortgages
The table below shows examples of the fixed-rate remortgage deals currently available.
Remortgage Lender | Initial Interest Rate | Product Details |
Nationwide | 4.44% | 60% LTV, 5-year fix, £1,499 fee |
Santander | 5.16% | 75% LTV, 3-year fix, £999 fee |
Natwest | 4.82% | 60% LTV, 2-year fix, £1,495 fee |
HSBC | 5.19% | 75% LTV, 10-year fix, no fee |
Barclays | 4.75% | 75% LTV, 2-year fix, £999 fee |
Please note that these rates are purely for example purposes to offer a snapshot of the deals available across the market. They were accurate at the time of writing (May 2024)
Variable-rate remortgages
The table below shows a sample of the variable rate remortgages available right now.
Remortgage Lender | Initial Interest Rate | Product Details |
Nationwide | 5.44% | 60% LTV, 2-year tracker, £999 fee |
Santander | 5.75% | 75% LTV, 2-year tracker, £999 fee |
Natwest | 5.94% | 75% LTV, 2-year tracker, £995 fee |
HSBC | 5.54% | 75% LTV, 2-year tracker, £999 fee |
Barclays | 5.40% | 60% LTV, 2-year tracker, £999 fee |
Please note that these rates are purely for example purposes to offer a snapshot of the deals available across the market. They were accurate at the time of writing (May 2024)
You can compare remortgage rates from the above lenders and more for free through Teito, and we have brokers on hand to help you compare mortgage types - get started.
Compare how your repayments might vary
You can compare how your new mortgage payments could vary after you have remortgaged, based on the term length and rate you end up with, by using our calculator below.
Simply enter the amount you’re borrowing, factoring in any equity you are releasing, into the box below along with a rate and term length to get some quick results:
Repeating the process with different term lengths and rates should give you a good idea of what your new repayments could look like. You can also convert the results into interest-only.
Comparing buy-to-let remortgage rates
The table below offers a sample of buy-to-let remortgage rates available at the time of writing (May 2024) so you can compare what’s available in this market.
Remortgage Lender | Initial Interest Rate | Product Details |
Natwest | 5.19% | 2-year fix, 75% LTV, £995 fee |
HSBC | 5.99% | 2-year tracker, 75% LTV, £1,999 fee |
Godiva | 4.71% | 5-year fix, 50% LTV, £1,999 fee |
Barclays | 5.76% | 2-year fix, 75% LTV, £1,795 fee |
Santander | 4.88% | 2-year fix, 60% LTV, £1,749 fee |
Please note that the above rates are for example purposes. The market is much broader than this, and the sample of lenders we have chosen offer a wide range of buy-to-let remortgage rates for customers with various different loan-to-value (LTV) ratios.
You can compare buy-to-let mortgage rates for free through Teito.
Why use Teito to compare remortgage rates?
Not only will our free comparison service give you the freedom to choose the remortgage deal you want, we also have brokers on hand to make sure you’re getting the best deal.
Here are just some of the reasons why people choose us for their remortgage needs:
- You can access exclusive rates and deals
- Our remortgage brokers are whole-of-market
- You can secure an agreement in principle in minutes
- Our comparison service is 5-star rated
Ready to compare remortgage rates and deals and take advantage of a free, no-obligation chat with a broker today? Get started here.
FAQs
While they can be useful for a quick overview of what’s available, keep in mind that online rates tables do not show the whole of the remortgage market and often give prominent placement to sponsored deals. Another drawback is that they are not bespoke to you.
Speaking to a mortgage broker is a better alternative as they can search the entire remortgage market for you and service up a list of personalised recommendations.
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.