Remortgage your property,
whatever type it is.

New build properties present a specific set of considerations when it comes to remortgaging. Most lenders apply a new build discount to their valuation, typically reducing the assessed value to between 85% and 90% of the purchase price to reflect the fact that new homes often carry a premium over comparable second-hand properties. This effectively means your LTV is treated as higher than it would appear based on the price you paid, which can push you into higher rate tiers or restrict the deals available to you in the first years of ownership. However, as your property ages beyond the new build designation — typically after two years — this restriction no longer applies, and you gain access to the same pool of lenders as any other homeowner.

Shared ownership mortgages, where you own a proportion of the property and pay rent on the remainder to a housing association, require lenders who specifically offer shared ownership mortgages. Not all lenders do, but a growing number have developed products for this market. When you remortgage a shared ownership property, you can choose to simply switch your existing mortgage to a new deal, or you can combine the remortgage with a staircasing transaction — increasing your ownership share by purchasing an additional percentage from the housing association. Staircasing increases your total borrowing but reduces your monthly rent, and the overall financial effect depends on the current market value of the property and the rates available.

Help to Buy equity loan properties add an additional layer of complexity because the equity loan from Homes England (or its equivalent) sits as a second charge on the property and must be considered alongside the first charge mortgage. Lenders offering Help to Buy remortgages need to be registered with Homes England, and the equity loan element must be repaid or remain in place when you remortgage. The equity loan itself is interest-free for the first five years, after which monthly fees begin and increase over time. Many homeowners choose to repay the equity loan at remortgage time if they have sufficient equity, which simplifies the mortgage going forward. Your broker will calculate the most financially advantageous approach for your specific Help to Buy situation.

Leasehold properties — which include the vast majority of flats in England and Wales — can present challenges for remortgaging when the remaining lease term is short. Most mainstream lenders require a minimum remaining lease term of between 70 and 85 years at the time of application. When the lease drops below this threshold, the number of lenders willing to consider the property reduces significantly, and you may need to approach specialist lenders who are comfortable with shorter leases. The key action to consider if you have a short lease is to extend it before remortgaging, as a longer lease increases the property's value and marketability and opens up a much wider range of lenders. The cost of extending a lease depends on the property's value, the ground rent terms, and the number of years being added.

Ex-local authority properties — houses and flats that were originally built and owned by local councils — are viewed with varying degrees of caution by different lenders. Some have strict restrictions on ex-council flats, particularly those that are part of large high-rise blocks or estates, while others are more accommodating. The specific concerns lenders have include the concentration of rental properties in a block, the condition of communal areas, the construction type, and the resale prospects in the local market. High-rise ex-council blocks are among the most restricted property types, whereas ex-council houses on former council estates are generally much more straightforward to remortgage. Your broker will identify which lenders are currently active in this space and which will offer the most competitive terms for your specific property.

Freehold flats — a relatively uncommon arrangement in England where a flat is owned freehold rather than leasehold — present specific challenges because they do not fit the standard legal framework that lenders are most familiar with. Without a lease structure defining the rights and obligations between flat owners, some lenders are reluctant to lend because the legal protections are less clear. However, some lenders do consider freehold flats, particularly where there are clear legal arrangements between the owners such as a deed of covenant or a management company structure. Your broker will assess your title documents and identify which lenders have the appetite and criteria to consider your specific arrangement.

Non-standard construction properties — those built with materials or methods outside the conventional brick and block format — require lenders who have specific experience and appetite for non-standard security. This category includes timber-framed properties, steel-framed homes, prefabricated concrete construction (including system-built and BISF houses), properties with thatched roofs, converted barns and churches, and former commercial buildings converted to residential use. Each construction type carries different risks in the eyes of lenders, relating to durability, insurability, and resale value, which is why the standard high street banks often decline or restrict these applications while specialist lenders are specifically equipped to handle them.

Listed buildings — those designated as Grade I, Grade II*, or Grade II listed by Historic England — present a combination of valuation complexity, insurance requirements, and planning restrictions that many mainstream lenders prefer to avoid. However, specialist residential lenders and some building societies with a history of lending on period properties are well-versed in the requirements of listed building mortgages. The key additional considerations when remortgaging a listed property include ensuring that appropriate listed building consent was obtained for any alterations made during your ownership, that the building insurance reflects the potentially higher rebuild cost of a listed property, and that the overall condition of the property is well maintained. Any breaches of listed building consent can create legal issues that affect the mortgage.

Properties with cladding issues have presented significant challenges in the remortgage market since the Grenfell Tower tragedy highlighted fire safety concerns with certain external wall systems. If your building has non-compliant cladding, many standard lenders will not offer a mortgage until a satisfactory EWS1 form has been obtained confirming that the external wall system has been assessed and meets fire safety standards. This has created a difficult situation for flat owners in affected buildings who want or need to remortgage. However, the situation is improving as more buildings are assessed and remediated, and specialist lenders have developed specific criteria for buildings with EWS1 forms at different ratings. Your broker will know the current state of the market for your building's specific cladding assessment status and which lenders are most likely to help.

Not every homeowner has the luxury of substantial equity, and for those with a high LTV — typically 80% or above — the remortgage market becomes more selective but does not disappear. High LTV remortgages at 85%, 90%, or even 95% are available from a range of lenders, though the rates are understandably higher than those available to borrowers with more equity. The key question for high LTV remortgages is whether the saving from switching to a new rate is still sufficient to justify the cost and effort of remortgaging, even after accounting for the higher rate that comes with a high LTV. In many cases, even a high LTV remortgage can be significantly better than remaining on the lender's standard variable rate.

Homeowners who find themselves in a high LTV position may have purchased with a small deposit, have a property that has not increased in value as expected, or may have released equity in the past that has eroded the buffer. Whatever the reason, options do exist. Some lenders offer 90% LTV remortgage products, and a few will consider 95% in specific circumstances. The rates are higher, but they may still represent a material saving over the SVR. Additionally, if you are in negative equity — where your outstanding mortgage balance exceeds your property's current value — a full remortgage to a new lender is very unlikely to be possible, but your existing lender may offer a product transfer that allows you to switch to a new deal without the need for a full new valuation.

For homeowners who want to improve their LTV before remortgaging to access better rates, there are a number of strategies worth considering. Making overpayments on your current mortgage — if your deal allows this without penalty — directly reduces the outstanding balance and improves your LTV. Waiting for property values in your area to increase naturally can also move you into a more favourable LTV band over time. If your property has been significantly improved since you purchased it, a professional valuation may reveal that the value has increased more than you realise, which could put you in a better LTV position than your current estimate suggests. Your broker will advise on whether it makes more sense to remortgage now at the current LTV or to wait and reapply when your position has improved.