Securing a Competitive Remortgage Without Added Fees: How One Couple Locked In Peace of Mind

Customer Overview

A married couple in their early 60s, residing in Southern England and approaching retirement, recently sought advice on securing a new mortgage deal.

The pair, with backgrounds in standard employment and nearing the end of a five-year fixed-term mortgage, were primarily concerned about keeping costs low while maintaining payment certainty as they transitioned into retirement.

The Challenge: Renewing Their Mortgage Without Extra Costs or Complexities

As their fixed-rate mortgage with NatWest approached its expiration, the couple wanted to avoid defaulting onto a variable rate. They were looking for:

• A new, predictable fixed-rate mortgage for five years
• No extension of their current term, which had just under 9 years remaining
• Minimal paperwork or additional legal processes
• Zero fees—no administrative, legal, valuation, or arrangement charges

They expressed strong satisfaction with NatWest as their lender and desired a seamless, cost-effective remortgage solution that maintained their monthly affordability and payment stability.

The Solution: A Fee-Free Fixed Rate Remortgage with NatWest

Based on their objectives, Deal Direct recommended a remortgage product from NatWest tailored to existing customers. This mortgage:

• Offers a fixed rate of 4.09% until December 2030
• Does not alter the remaining loan term of 107 months
• Has no arrangement, legal, or valuation fees
• Allows the couple to port the mortgage if needed in the future
• Includes up to 20% overpayments annually without penalty

This solution not only fulfilled their desire to stay with a trusted lender but also avoided unnecessary costs and hassle. Importantly, they were not required to provide additional documentation or involve solicitors—streamlining the process.

Affordability Assured

The couple confirmed the monthly payment of £686.50 was affordable both now and post-retirement. They were comfortable with potential interest rate shifts at the end of their fixed period and understood the early repayment charges involved should they want to exit earlier.

Early Repayment Charges Acknowledged

The product’s early repayment charges decline over time—starting at 4.5% and reducing yearly until only 1% in the final year of the fixed rate. They understood these charges and confirmed they had no plans to repay early.

Results Achieved

This remortgage solution helped the couple:

• Avoid thousands of pounds in fees associated with switching lenders
• Secure long-term stability with a fixed monthly payment over the next five years
• Ensure continuity and convenience by staying with their preferred lender
• Maintain financial predictability leading into potential retirement

With peace of mind in place, the couple are now financially better positioned and confident with their mortgage setup.

Customer Testimonial

“We’ve always been happy with NatWest, and this remortgage option just made everything easy—it was stress-free, no fees, and no hassle. Staying on a fixed rate gives us security going into retirement.”

Frequently Asked Questions

How much can I save by avoiding remortgage fees?

By choosing a lender that waives arrangement, legal, valuation, and survey fees—as in this case—you can save £1,000–£1,500 or more, depending on the lender’s standard charges.

Can I remortgage without changing lenders?

Yes. Many lenders offer attractive rates to existing customers to retain business. As in this case, staying with your current lender can often simplify the process and avoid additional costs.

Do I need to provide documents again if I stick with my current lender?

Not always. Some lenders, like NatWest in this case, allow existing customers to remortgage without re-submitting documentation or involving solicitors, especially for like-for-like deals.

Are there penalties for repaying a fixed-rate mortgage early?

Yes. Fixed-rate mortgages usually have early repayment charges (ERCs) that lessen over time. Always check your lender’s schedule. In this case, ERCs started at 4.5% and reduced annually.

Can I overpay on a fixed-rate mortgage?

Most lenders allow penalty-free overpayments up to a certain limit. This couple could overpay up to 20% annually without penalties, helping reduce interest paid over the term.

Secure Your Own Fee-Free, Tailored Remortgage Today

If your fixed-rate mortgage term is ending soon, or you’re looking to cut costs, reduce stress, or gain long-term financial security, now is the time to act. Let Deal Direct help you find the best remortgage deal—just like we did for this couple nearing retirement.

Contact us today for a no-obligation, free mortgage consultation and secure your peace of mind.