Getting started

What's in this section?

What is remortgaging?

Defining the remortgaging process.

Why remortgage?

Reasons why you might want to remortgage.

Why remortgage to Nationwide?

How we can help you remortgage to Nationwide.

What is remortgaging?

Remortgaging is when you change your mortgage without moving home. You do this by paying off the original mortgage with the proceeds of the new one, using the same property as security.

At Nationwide, when you change your mortgage to us without moving home, we call this remortgaging to us. If you already have a Nationwide mortgage and you want to change your deal, see our switching guide.

To ensure your mortgage terms and features continue to best suit your ongoing circumstances, it's worth reviewing your mortgage regularly. If you're nearing the end of your current mortgage deal or paying the Standard Variable Rate, it could be a good time to start thinking about remortgaging.

Why remortgage?

There are many reasons to remortgage. Here are the most common:

To save money

If your existing mortgage interest rate has changed since you took out your current deal, you might be able to save money by moving to a mortgage with a lower interest rate. Using the overall cost for comparison or Annual Percentage Rate of Charge (APRC) can help you compare your current deal with what's available from other lenders.

Important aspects to remember are:

  • Interest rates can change regularly, so today's best remortgage deals might not be available when you actually come to switch.
  • Consider the costs and fees of moving your mortgage to get a true picture of whether it's worth remortgaging in the first place. Take a look at our current fees and charges and compare these with those of your current lender.

To raise money

Remortgaging can be a convenient way of raising some extra money by increasing the percentage of your home's value that you borrow against. Although you’re ultimately responsible for paying it back, we're also obliged to check you can afford to repay the loan and make sure you’re not over-stretching your finances.

Common uses for the money raised through remortgaging include:

  • Home improvements that increase the value of your home – for example, adding an extra bedroom.
  • Releasing capital to spend – but remember that while your borrowing will go up, your home's value may not.

To gain a more suitable mortgage

If your personal circumstances change, you may decide that your current mortgage is no longer the most appropriate, and that a different type of mortgage with different terms or features might be a better fit.

If you're starting a family, for example, you may decide that the predictability of a fixed-rate remortgage deal is now more important to you than the low repayments of a tracker mortgage. Or you may be earning more than when you took your mortgage out and want the ability to make overpayments with no penalty.

Why remortgage to Nationwide?

When it comes to your home we understand that every penny counts which is why we have a number of competitive mortgages with rates that are lower than most high street banks' standard variable rates (SVR). So if your mortgage is with another lender and you're either coming to the end of your deal or you're on their Standard Variable Rate, see if we could save you money.

We reward our customers

Our customers have access to a great range of products, discounts and services, reserved exclusively for them. Run for the benefit of our customers, our only focus is you.

We provide great service for our customers

We’re proud to say we have the best customer satisfaction amongst our major high street competitors*, but if something does go wrong we aim to resolve it quickly – to our customers’ satisfaction.

Free standard legal and valuation fees

When you remortgage to us we offer free standard legal fees or £250 cashback as well as free standard valuation fees.

Before you apply to remortgage to us, it's worth considering the following:

  • If you find a mortgage with a lower interest rate, your monthly payments would be less
  • You could switch to a mortgage which is more suitable to you and your circumstances
  • There may be fees and charges involved, including Early Repayment Charges from your current lender

Always check the equity you have in your property before shopping around, as there may be LTV restrictions depending on which lender you choose.


How much can I borrow?

Finding the right mortgage

Getting a Decision in Principle

Applying for a mortgage

Completing your mortgage