Remortgaging is when you switch from one mortgage deal to another, either with your current mortgage lender or elsewhere. If you’ve paid off some of your previous mortgage you may qualify for more competitive deals. You should be able to switch deals whenever it makes sense to do so, though some lenders may charge you an early repayment charge (ERC) to do so. You’ll need to compare the true cost (repayments, interest, and fees due over the initial period) of a new mortgage deal with your current deal, in order to understand what you could save by switching. We can find you the right deal for your circumstances and tell you what your savings may be, taking into account all charges, such as ERCs levied by your current lender, arrangement fees, and valuation fees.