Cashback Remortgages · Remortgaging
If Rates Change Before Your Remortgage Completes
Rates can move between the time you secure a remortgage deal and completion. Knowing your options helps you respond if a better or worse rate appears.
Your secured rate
Once a lender issues an offer, that rate is generally held to completion regardless of market moves, which protects you if rates rise. This is one reason to secure a deal early.
If your deal has not yet completed and rates fall, some lenders allow you to switch to a lower rate before completion, subject to their rules.
What to do
Ask your adviser whether a rate switch is possible with your lender if rates drop, and weigh any cost or delay. Do not cancel a secured deal without confirming the alternative is actually available.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.