Remortgaging or Switching Your Mortgage in 2025. Expert Advice for Homeowners

From Drummonds Finance Group | Trusted Mortgage Broker in Oxfordshire

If your current mortgage deal is coming to an end or you’re paying more than you need to, now is the time to review your options. Whether you're looking to remortgage or simply switch your current mortgage deal, understanding your choices can help you save thousands and regain control of your finances.

At Drummonds Finance Group, we help clients across Oxford, Bicester and Oxfordshire remortgage with confidence. We compare over 100 lenders and guide you through the entire process, with no pressure, just honest, expert advice.

✅ Request your free remortgage review

What Is a Remortgage?

Remortgaging means replacing your current mortgage with a new one. This could be with your existing lender (a product transfer) or with a different lender altogether. It’s a chance to:

• Lock in a better interest rate

• Reduce your monthly payments

• Switch mortgage types (e.g. fixed to tracker)

• Release equity from your property

If your current mortgage deal is ending, or you’re already on your lender’s Standard Variable Rate (SVR), remortgaging could save you a significant amount of money.

✅ Speak to a mortgage expert about remortgaging options

Why Do Homeowners Remortgage?

Common reasons our clients choose to remortgage include:

• Their fixed-rate or tracker deal is expiring

• They want to avoid their lender’s SVR

• They’re looking to raise funds for home improvements or debt consolidation

• They’ve improved their credit score and now qualify for better deals

• They want to overpay or shorten the mortgage term

Whatever your reason, our job is to help you get the most competitive mortgage deal available based on your current circumstances.

✅ Find out if a remortgage could save you money

What’s the Difference Between a Remortgage and a Product Transfer?

Option	Description
Remortgage	Move your mortgage to a different lender for a better deal or different terms.
Product Transfer	Stay with your current lender but switch to a new deal they offer

We constantly compare both options and give clear, unbiased advice on which is right for you.

✅ Let us compare your options today

When Should You Start the Remortgage Process?

We recommend reviewing your mortgage 3–6 months before your current deal ends. This gives you time to:

• Avoid rolling onto your lender’s expensive SVR

• Secure a new rate while deals are still available

• Ensure you pass the affordability and credit checks in time

✅ Get early remortgage advice to avoid unnecessary costs

Can You Remortgage Early?

Yes, but it depends on your current mortgage deal. Some lenders charge early repayment charges (ERCs) if you switch before the end of a fixed or discounted period.

However, in some cases, the long-term savings of switching outweigh the early exit costs. We’ll run the numbers for you so you can make an informed decision.

✅ Ask us if remortgaging early makes financial sense

Can You Remortgage If You’re Self-Employed?

Absolutely. We help self-employed professionals remortgage every week. As long as you can show at least one to two years of trading history, we can find lenders that understand your income structure.

We also help contractors and limited company directors who may be turned down by high street banks.

✅ Self-employed? Get tailored remortgage advice

Can You Remortgage With Bad Credit?

Yes, but your lender options may be more limited. We work with specialist lenders who accept:

• Missed payments

• Defaults

• CCJs

• Debt Management Plans (DMPs)

• Previous bankruptcy (if discharged)

We review your full credit file and match you with the most suitable lender, avoiding unnecessary rejections and credit searches.

✅ Remortgage with bad credit – speak to a specialist

What Fees Are Involved in a Remortgage?

Fees vary depending on the lender and the product. You may come across:

• Arrangement fees

• Valuation fees

• Solicitor fees (often covered by the lender)

• Early repayment charges from your existing lender

We’ll always show you the actual cost of switching, comparing free-fee and fee-paying options to find the best overall value.

✅ Get a free cost comparison before switching

Can You Release Equity When You Remortgage?

Yes. If your home has increased in value or you’ve paid off a large portion of your mortgage, you may be able to borrow more than your existing balance.

This is ideal for:

• Home improvements

• Paying off debts

• Helping children with deposits

• Investing in a second property

✅ Find out how much equity you could release

Remortgage Example

Client: Emily, Oxford homeownerCurrent mortgage: £270,000Old rate: 5.49%New deal: 4.14% 5-year fixedMonthly saving: £210Total savings over 5 years: £12,600

She also borrowed £15,000 extra to upgrade her kitchen, all arranged with Drummonds in less than three weeks.

✅ Start your own remortgage success story

Remortgage FAQs

How long does remortgaging take?

Typically 2–4 weeks. Some product transfers complete in as little as 7–10 days.

Will I need a property valuation?

Most lenders use desktop (automated) valuations, but full valuations may be needed in some cases.

Do I have to use my current lender?

No. You’re free to switch, and we’ll advise if a new lender offers better rates or flexibility.

Can I switch mortgage type?

Yes. Many homeowners move from interest-only to repayment (or vice versa) or choose a new fixed/tracker term.

✅ Get your remortgage questions answered today

Work With Oxfordshire’s Trusted Remortgage Experts

At Drummonds Finance Group, we’ve helped hundreds of homeowners across Oxford, Bicester and the surrounding areas save money by switching to better mortgage deals.

✅ Access to over 100 lenders

✅ Self-employed, poor credit and complex income welcome

✅ Evening and weekend appointments available

✅ No upfront fees. No pressure. Just straight-talking mortgage advice