YesCanDo Money has all the tools to give you all the answers you need. Get in touch with us today to get a free remortgage quote or comparison to kick things off.
Compare remortgage rates & deals for free today
Think you’ve found a good remortgage deal but it seems too good to be true? YesCanDo Money will help you make remortgage comparisons between dozens of other lenders.
It’s always good to look for the best remortgage deal – you never know what you could be missing out on. Even if you’ve found an attractive deal, we recommend seeing what else is out there. With YesCanDo Money, getting remortgage quote comparison is fast and fuss-free.
How to get your remortgage quote or comparison
Simply call one of our advisors today to talk through your remortgage quote. From here, you can ask for a remortgage comparison so you can make an informed decision about your existing quote. You can also message one of our advisors directly via WhatsApp, if you’d prefer.
Alternatively, you can fill in this contact form below to let us know how our expert remortgage advisors can help save you money. Let us know what the best time is for us to call you. We will get one of our mortgage advisors will be in touch to talk through your situation and available options.
Typical Remortgage Rates
Remortgaging rates differ from lender to lender, therefore it is vital to shop around for the best deal. Although rates for remortgaging vary based on your individual situation and are dependent on a number of factors including: LTV, location and credit score. Despite this, it is useful to have a guideline for what kind of rates you can expect.
Based on the thousands of remortgage quotes we’ve provided at YesCanDo, here’s a breakdown of the typical remortgage rates we see across the UK:
|Region||Average Property Price||Average Remortgage Rate||Average Remortgage Quote|
|London||£700,325||1.24%||£1,629.67 a month*|
|Manchester||£235,337||1.24%||£547.64 a month*|
|Cardiff||£278,679||1.24%||£648.49 a month*|
|Edinburgh||£310,864||1.24%||£723.39 a month*|
|Portsmouth||£260,596||1.24%||£606.41 a month*|
Average property prices in the above areas based on figures for 2021 generated by Zoopla
* (Average Remortgage Quote is the average monthly mortgage repayment based on the average property price with a 60% Loan To Value – 1.24% 2 year fixed rate – 25 year term)
Remortgage Quote FAQs
How is a remortgage quote calculated?
Remortgage quotes are calculated based on the remaining amount of your loan balance, remaining term of the loan, property value and the repayment type. These are combined to form your LTV which will determine which remortgaging deals you can apply for.
Loan to Value (LTV) is a measure of the difference between the value of the property and the value of the loan. Therefore, it is calculated by dividing the outstanding value of the mortgage by the properties value then multiplying by 100 to produce a percentage.
E.g. £100,000 left on a £250,000 loan = 100,000/250,000 * 100 = 40%.
There are also a variety of costs associated with remortgaging, to find out more about these, view our remortgaging costs page.
When should I remortgage?
Remortgaging is an option for many different reasons. It’s not necessary for everyone but, in certain circumstances, it can really help you out. Let’s look at some examples:
- Remortgaging if you’re in debt: let’s say you’ve built up debt through personal loans and you’re subject to high rates of interest – remortgaging can help you consolidate your debt into more manageable monthly payments.
- Remortgaging to lower mortgage payments: this is a common reason why people choose to remortgage. When a fixed / discounted mortgage rate ends, it often reverts to standard variable rates which can be a lot higher. Remortgaging allows you to seek better deals.
- Remortgaging for home improvements: remortgaging can free up money elsewhere so you can finally make those home improvements you’ve been planning. This works similarly to remortgaging if you’re in debt.
What is the best remortgage rate?
When you are looking to remortgage, you will understandably want the best interest rate. But as there over 14,000 mortgages available in the UK, finding the best remortgage rates can be difficult.
They often change on a daily basis as some mortgage lenders change their interest rate every day. For you, this means a lot of legwork and phone calls when trying to secure the best remortgage rate. However, with the help of a no-fee mortgage broker such as ourselves, we can help you find and secure the best remortgage rate for you.