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See why Hull homeowners trust Green & Green for honest, straightforward mortgage advice.
How Does a Remortgage Work?
Put simply, a remortgage means replacing your existing mortgage with a new one either with a different lender or your current one. It can help you:
Secure a better interest rate once your fixed deal ends
Release equity from your home
Change your mortgage term or repayment type
Consolidate other debts into one manageable monthly payment
When Should I Remortgage?
Timing is everything with remortgages. Most fixed‑rate deals last 2 to 5 years, and when they end, you’ll automatically move to your lender’s standard variable rate (SVR) which is often much higher. Lenders SVR is typically 3% above the Bank of England base rate.
We usually recommend starting the process:
Around 3–6 months before your current deal ends, or
Earlier if you want to change your term, release equity, or adjust your payments.
Remortgaging early can make sense in some cases, especially if:
You’ll still save more than any early repayment charge costs,
Interest rates are expected to rise, or
Your property’s value has increased since your last mortgage.
What happens when your fixed rate ends in 2026?
01. Initial Consultation
We start with a short appointment, either face‑to‑face or over Teams to review your current mortgage, your goals, and what you hope to achieve by remortgaging.
02. Mortgage Research
Your adviser searches our panel of 80+ lenders to find deals that fit your situation, whether you want to save money, release equity, or fix your payments for peace of mind.
03. Recommendation
We’ll present our recommendation with clear figures showing your monthly payments, interest rate, and savings compared to your current deal.
04. Application & Valuation
Once you’re happy to proceed, we’ll submit your new mortgage application. The new lender will often arrange a property valuation and review your documents.
05. Offer & Completion
When the mortgage offer is issued, your solicitor handles the legal side. On completion day, your old mortgage is repaid directly, and your new one begins seamlessly, often with no gap between payments.
Why Use an Independent Mortgage Adviser in Hull?
The biggest advantage of using a Green & Green mortgage adviser is choice and expertise. We’re not tied to one lender, so we’ll always focus on what works best for you. When you work with us, you get:
Access to 80+ UK mortgage lenders
Clear, no‑jargon advice tailored to your goals
Help comparing old versus new deals
Full support from application to completion
Local knowledge and personal service
Whether you’re in Hull city centre, Beverley, Cottingham, Hessle, or anywhere across East Yorkshire, we’re here to make remortgaging simple and stress‑free.
We’ll help you understand:
Whether you’d benefit from switching
What rates you could access
How to avoid unnecessary charges
The best timing for your situation
Remortgage FAQs
Q: I need to close my old mortgage down when I remortgage?
No, when you complete your remortgage, your solicitor pays off your old mortgage directly as part of their process. The old account closes automatically, so there’s nothing you need to do yourself.
Q: When will the new lender take my first payment when I remortgage?
Usually, your first payment is due about one month after completion. Your new lender will confirm the exact date in writing before they take it so you can plan ahead.
Q: What happens to any surplus funds from my remortgage?
If you borrowed more than your previous balance (for example, to release equity), your solicitor will transfer the surplus funds straight into your chosen bank account shortly after completion.
Q: Can I remortgage early?
Yes, but it’s important to check your early repayment charges (ERCs) first. Sometimes, the savings from switching early outweigh the costs especially if rates are rising. We’ll calculate both scenarios for you, so you know what’s best.
Get in Touch
Give us a call or drop us an email—whatever works best for you.
Have a Quick Chat
Speak with one of our friendly, experienced advisers to see how we can help - no pressure, no commitment.
Book Your Appointment
If it feels like the right fit, we’ll arrange a face-to-face or Teams meeting at a time that suits you.
We Do the Hard Work
Once we’ve got everything we need, we’ll search across a wide range of lenders and insurers to find the right solution for you.