Introduction
With interest rates fluctuating and the cost of living at record highs, many Wiltshire homeowners are considering whether now is the right time to remortgage. A remortgage can lower your monthly payments, free up money for home improvements, or simply provide peace of mind with a fixed rate. But with so many options available, it’s important to understand the process—and when it makes sense for you.
At Verve Financial, we’ve helped homeowners across Salisbury, Amesbury, and the wider Wiltshire area navigate their remortgaging journey. Here’s everything you need to know in 2025.
Why People Remortgage
There are several common reasons why homeowners choose to remortgage:
- End of a fixed-rate deal – Many lenders move you onto a standard variable rate (SVR) when your fixed deal ends, which is usually more expensive.
- Reducing monthly payments – Switching to a better rate can save you hundreds of pounds a year.
- Releasing Capital – If your home has risen in value, you may be able to borrow against that capital for home improvements, debt consolidation, or other goals.
- Changing terms – You may want to adjust the mortgage length or switch from interest-only to repayment.
Tip: Don’t wait until your deal expires. Most lenders allow you to secure a new rate up to six months in advance.
Think carefully before securing your debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
The Remortgage Process in Wiltshire
-
Review your current deal – Check when it ends and whether early repayment charges apply.
- Get your home valued – Higher property values can mean access to better rates.
- Compare deals – Don’t just rely on your current lender; advice can open up more options.
- Submit an application – This includes affordability checks and proof of income.
- Legal and administrative steps – Solicitors handle the legal side, often through a streamlined process.
Local Market Insight
Wiltshire property prices have remained resilient in 2025, particularly in Salisbury where demand is strong. Homeowners in Amesbury and Tidworth may see different equity opportunities compared to Salisbury city centre. Local knowledge is key in understanding what your property is really worth.
Risks and Considerations
- Fees – Arrangement fees, legal costs, and early repayment charges can add up.
- Affordability checks – Lenders will reassess your finances, so make sure your credit score and income evidence are in good shape.
- Future rates – A fixed rate provides stability, but you may miss out if rates fall.
Why Work with Verve Financial
- We’re professional, meaning we search across lenders for the most suitable deals.
- We’re local, with deep knowledge of the Wiltshire property market.
- We provide clear guidance, so you understand the true long-term cost of any deal.
If your current deal is ending in the next six months, get in touch with us today to explore your remortgaging options.
