With interest rates and housing costs shifting in 2025, more homeowners are reviewing their options and asking: “Is now the right time to remortgage?”
At Simply Move Home, we connect you with regulated conveyancers who can handle the legal side of remortgaging quickly and efficiently. Here are some of the top reasons people are choosing to remortgage this year.
- To Get a Better Interest Rate
When your fixed-rate or introductory deal ends, you’ll usually be moved onto your lender’s Standard Variable Rate (SVR) – which is often much higher. By remortgaging, you can switch to a new fixed or tracker deal with lower monthly payments, potentially saving thousands over the life of your mortgage.
2. To Release Equity from Their Home
As property values have risen over time, many homeowners are siting on equity – the difference between what their home is worth and what’s left on their mortgage. Remortgaging allows you to release some of the equity as a lump sum, which can be used for:
- Home improvements
- Helping children with a deposit
- Consolidating debts
- Major life events (e.g wedding)
3. To Fund Renovations or Extensions
From new kitchens to loft conversions, home improvements can be expensive. Remortgaging to release equity is a popular way to fund these projects, especially as improving your current home may be more affordable than moving.
4. To Switch from Interest-Only to Repayment
Some borrowers are on interest-only mortgages, which means they’re not paying down the loan itself. Remortgaging to a repayment mortgage ensures you’re steadily reducing the balance and building long-term security.
5. To Consolidate Debts
If you’re juggling credit cards, loans or other debts, remortgaging can help consolidate everything into one monthly payment, often at a lower interest rate. While it can make repayments more manageable, it’s important to get financial advice as this may increase the length of time you’re in debt.
6. To Shorten (or extend) the Mortgage Term
Remortgaging can also give you flexibility over your term:
- Shorten the term to pay off your mortgage sooner and save on interest
- Extend the term to reduce monthly payments, freeing up more disposable income
7. To Move to a Different Type of Mortgage
Your circumstances may change, and so might your mortgage needs. For example, you may switch from a variable rate to a fixed rate for certainty, or you may move from a fixed rate to a tracker mortgage for more flexibility.
8. To Change Lenders
A remortgage gives you that option. Sometimes homeowners simply want to move to a lender offering better products, faster service, or more suitable terms.
To Summarise
Remortgaging isn’t just about switching lenders – it’s a smart financial move that can save you money, release equity, or make your mortgage work better for your lifestyle. In 2025, remortgaging can be a powerful tool to save money, release funds or reshape your financial future. Whether you’re looking to reduce monthly payments, fund renovations, or simply find a better deal, the right conveyancer will make the process smooth and hassle-free.
Thinking about remortgaging? Get your free conveyancing quote from Simply Move Home today and connect with a regulated professional you can trust. Simply click here.
