Secure a Better Future: How a Simple Remortgage Helped One Homeowner Lock in Financial Stability

Anonymous Customer Overview

A male homeowner in his mid-50s, working in a senior professional role in Hampshire, recently reached out as his fixed mortgage rate was nearing expiration. He was keen to secure a new competitive fixed rate nationwide to plan his remortgage for 2025, maintaining stability and avoiding a higher variable rate.

Challenge: Avoiding the Lender’s Standard Variable Rate

As his fixed-term mortgage was ending, this individual faced the risk of rolling onto his lender’s standard variable rate (SVR) — a move that could increase his monthly repayments significantly. With 23 years and 4 months remaining on his mortgage, his primary goal was to:

• Secure a new long-term fixed interest rate
• Ensure predictability in monthly payments
• Avoid unnecessary costs or delays

While open to exploring other lenders, he preferred a straightforward process and staying with his current lender if possible.

Solution: A Competitive 5-Year Fixed Remortgage Plan

After a full fact-find and risk assessment, our specialist mortgage advisor recommended a 5-year fixed rate remortgage with the customer’s existing lender, Nationwide Building Society. Here are the core details of the plan:

• Lender: Nationwide Building Society
• Rate: 5-Year Fixed at 3.94%
• Loan Amount: £126,301.31
• Remaining Term: 280 months (23 years, 4 months)
• Repayment Type: Capital & Interest

This product was chosen because it offered the easiest and fastest path to completion without sacrificing competitiveness. Compared to 2-year and 10-year fixed options, the 5-year deal provided the lowest interest rate, offering an ideal middle ground in terms of flexibility and affordability.

Achieved Results: Stability, Simplicity & Cost Control

By remortgaging with his current provider, the client:

• Avoided a hike by not transitioning to the SVR
• Locked in a favourable interest rate until 2029
• Kept monthly payments stable at £695.90 during the fixed term
• Elected to add the £999 lender fee into the mortgage, preserving cashflow while only marginally increasing the total interest paid over time

With this nationwide remortgage planned for 2025, the client's financial future looks bright. The plan also allowed for early repayments up to 10% per year without penalties, and included valuable features such as porting options, help with valuation fees, and a rapid completion timeline.

“The 5-year fixed rate gave me the peace of mind I was looking for — a great deal with no surprises. The fact I could stay with my current lender made the process even smoother.”

Expert Guidance Every Step of the Way

Our client was guided through every step of the remortgage process, from product comparisons to managing administrative requirements. Our advisors ensured the new plan aligned with his retirement timeline and offered flexibility should his circumstances change. With no fees charged to the client and a quick turnaround, the entire remortgage was handled with minimal disruption.

Frequently Asked Questions

How much can I save monthly by remortgaging before my fixed rate ends?

By avoiding the standard variable rate, homeowners can potentially save hundreds of pounds monthly. In this case, maintaining a fixed payment of £695.90 kept costs well below the estimated SVR amount with a Nationwide remortgage expected in 2025.

Can you remortgage with your current lender?

Yes. Staying with your current lender can be faster, and if their remortgage products are competitive, it may also be cost-effective without legal or valuation fees.

Can I repay a fixed-rate mortgage early without penalties?

Most fixed-rate products have overpayment allowances, often up to 10% annually without penalty, as in this case. Exceeding that may trigger early repayment charges, so check your terms.

What documents are required for a remortgage?

You’ll typically need proof of ID, proof of income (e.g. payslips, P60s), bank statements, and a recent mortgage statement. If staying with your current lender, requirements may be lighter.

Does remortgaging affect my credit score?

The application may involve a credit check, which could result in a minor, temporary drop. However, making timely payments on your new mortgage can strengthen your credit in the long term.

Ready to Secure Your Mortgage Future?

If your fixed rate is ending or you want to lock in a stable deal, now is a great time to explore your options. Whether you’re looking to remortgage to save money, release equity, or consolidate debts, our expert advisors can compare deals across the market – or even help you switch products with your current lender.

Get in touch today or use our Remortgage Calculator to start your journey to a better mortgage.