Switch Save Donate – Record low re-mortgage rates and what to consider

Homeowners stuck on expensive mortgage deals or hoping to borrow money for improvements can capitalise on rates at a record low.

How to get a deal below 1%

You will need at least 40% equity in your home and are employed with a regular income.

If your income has dropped and you have missed mortgage payments you would not be eligible for these rates. However, you can opt for a Product Transfer where you could still fix a cheaper deal with your current lender and avoid the strict affordability checks that a new lender will insist on.

Start looking now

You can lock in a new mortgage deal  from three to six months before your current fixed rate ends.

Re-mortgaging often comes with a free valuation as lenders are more likely to carry out desktop valuations without visiting the premises.

Consider offsetting

This is a way for homeowners to make their savings work for them by reducing the loan cost.

You are allowed to reduce the amount of loan that you pay interest on by putting your savings into a linked account. It pays no interest buy any money in there is offset against your borrowing.

Both fixed and variable rate offset mortgages are available.  The rates are higher than normal loans but you keep your savings in case you need them and still allow it to cut your repayments.

Self employed borrowers like to  use offset mortgages because they have cash on deposit to pay their tax bill at the end of the year, while making the money work for them in the meantime.

With savings rates being so low there has rarely been a better time to consider offset mortgages.

Why fundUgive2

  • As an experienced and caring mortgage broker we can find the best deals, including exclusive deals not on the high street, and help you decide which one works for you to help save you money.
  • Our service is completely free and we will donate to your favourite charity.


We can let you know if you are better off staying with your current lender and moving to a new deal or switching to a different provider. We help you decide what is affordable and doesn’t impact on your current lifestyle, making the process as simple as possible.⠀

Please contact Michaela on 020 3954 2103 or email mchard@fundugive2.com or visit our website www.fundugive2.com

We will also donate 25% of our fees from the mortgage lenders to a charity of your choice 

Please check out our re-mortgage guide fundugive2 re-mortgage guide