It’s easy to switch – whether you’re moving, improving or looking for a new rate, we’re here to help every day of the week2.
Your home may be repossessed if you do not keep up repayments on your mortgage.
What does it mean when you remortgage? Remortgaging is when you apply to move from your current mortgage lender to a new one. The word is sometimes confused with switching to a new type of mortgage or a different interest rate with your current mortgage lender.
What are the benefits and advantages of remortgaging? The benefits of remortgaging with a new lender can include getting a different interest rate or mortgage type, or borrowing more money for home improvements or a big purchase. You might be able to get a lower rate by remortgaging because your loan to value could be lower if you’ve paid off a significant part of your mortgage since it started.
Why should I remortgage?
Here are four reasons to remortgage.
1. Your current mortgage deal ends soon
This means you could move to the lender’s standard variable rate. As this is often higher, it’s a good time to check for better mortgage deals.
2. You’re paying a high interest rate
If you’re already on a standard variable rate, switching to a fixed or tracker rate could lower your monthly payments or help you pay off your mortgage sooner.
3. You want to pay off your mortgage early
Switching to a mortgage that lets you make overpayments could help you be free of your mortgage debt earlier than your original term.
4. Your property has increased in value
In this situation, you could apply to borrow more for things like home improvements. Your lower loan to value ratio could mean you’re eligible for a wider range of interest rates.
Finding a new mortgage lender
Remortgaging means moving your mortgage to a new lender while staying in the same property. Our guide can help you decide if it’s right for you.
Work out the kind of mortgage you could afford
Use our mortgage affordability calculators to work out how much you could borrow and what kind of deposit you need for a mortgage.
Take the first step to your mortgage with an AiP
Start an Agreement in Principle (AiP) online to find out quickly if you could borrow the amount you need – without affecting your credit score.
Get ready to apply
Find out how to book an appointment to start your mortgage application, and see the list of documents and information you’ll need to provide.
Move your mortgage to us
Switch to us and we’ll either waive your standard legal fees or give you cashback – our mortgage advisers will help you find the right deal for you.
Save money when you remortgage with us
You could save thousands of pounds when you switch to us from your current lender because we won't charge you application, valuation or standard legal fees.
Mortgages that keep you moving
We’re here to help you find a new deal for your new home.
Put your savings to work with an offset mortgage
Reduce your monthly payments or pay off your mortgage sooner by offsetting other accounts with us against your mortgage balance – find out how.
Get the cover you need, without all the questions
Get a price in under four minutes online for home insurance that’s rated 5 Star by Defaqto. You can tailor the cover to protect what’s important to you.
And if you already have a mortgage with us and get a home insurance quote between 18 January and 14 March 2021, we’ll give you £25 to spend on a range of gifts from Simply Thank You when you take out a policy. Terms, conditions and exclusions apply3.
Protect your family
Have you thought about what would happen to your loved ones if you died or became terminally ill? With Barclays Simple Life Insurance, you can give them some financial security with a one-time payment – from £6 per month.
Life Insurance is underwritten by Legal & General Assurance Society Limited. Terms, conditions, exclusions and eligibility criteria apply.
Peace of mind for your home
Got a mortgage with us? Get a quote for home or life insurance by 14 March 2021and take out a policy, and we’ll give you a £25 voucher to spend on a range of gifts from Simply Thank You. Terms, conditions and exclusions apply.
Whether you’re a first-time buyer or only have a few years left on your mortgage, make sure your home is protected if you die or become terminally or critically ill.
Barclays Life Insurance is underwritten by Legal & General Assurance Society Limited. When you select ‘Get a quick quote’, we’ll take you to Legal & General’s website to complete your application securely. Terms, conditions, exclusions and eligibility criteria apply.
Our mortgage experts are available every day from 7am to 8pm, except for bank holidays. To maintain a quality service, we may monitor and record phone calls. Call charges.
If you’ve submitted an application, use your mortgage application reference to find out what stage it’s at.
You can also check our full mortgage range [PDF, 591KB] to see if our other mortgages are suitable for you, download our tariff of mortgage charges [PDF, 265KB] and read our legal information.