Remortgage

Remortgaging means switching your existing mortgage to a new deal — either with your current lender (a product transfer) or with a new lender.. The most common reason is to avoid reverting to the SVR at the end of a fixed rate term. A remortgage can also be used to release equity, change the term, or consolidate debt

You should typically start exploring options 3–6 months before your current deal ends.