When your mortgage deal is coming to an end, the last thing you want is to pay out for advice on top of everything else. The good news is that remortgaging, just like buying a home, can usually be arranged through a broker without paying a penny in fees. Here’s how fee-free remortgage advice works, and what to check before you commit.
Does “Fee-Free” Apply to Remortgaging Too?
Yes. Many brokers who offer fee-free advice for home purchases extend the same model to remortgages. You’ll pay nothing for the advice or the application itself, the broker is instead paid a procuration fee directly by the lender once your new mortgage completes, in exactly the same way as a first-time purchase. For a full breakdown of how this works, see our guide on [how fee-free mortgage brokers get paid].
Why Use a Broker for a Remortgage at All?
It’s tempting to assume remortgaging is simple enough to do yourself, especially if you’re just accepting your current lender’s “retention” offer. But a broker brings a few specific advantages here:
- Whole-of-market comparison, rather than only seeing your existing lender’s deals
- Timing advice, since starting too early or too late around your deal’s end date can cost you money
- Help weighing Early Repayment Charges against potential savings if you’re considering switching before your current deal ends
- Access to deals not available directly to the public, in the same way as with purchase mortgages
If your current lender’s retention deal looks competitive, a good broker will tell you that honestly, rather than pushing you to switch unnecessarily just to earn a fee.
What Should You Check Before Choosing a Fee-Free Remortgage Broker?
- Are they whole-of-market, or tied to a limited panel of lenders? This affects how good a deal they can actually find you.
- Are they FCA-authorised? You can check this on the Financial Conduct Authority Register.
- Will they also compare your existing lender’s retention/product transfer deal? A good broker checks both, rather than assuming a full remortgage is always the better option.
- Is there a cut-off for complex cases? Some brokers only offer genuinely fee-free advice for straightforward cases, and may charge for more complex remortgages (for example, releasing a large amount of equity or unusual income types). Ask upfront.
Fee-Free Remortgage vs Paying a Broker Fee
| Fee-Free Broker | Fee-Charging Broker | |
|---|---|---|
| Cost to you | £0 | Often £300–£500, or a % of the loan |
| How they’re paid | Procuration fee from the lender | Client fee, sometimes plus procuration fee too |
| Rate you’re offered | Set by the lender, unaffected by fee model | Set by the lender, unaffected by fee model |
| Regulation | Same FCA requirements | Same FCA requirements |
As with purchase mortgages, paying a fee doesn’t necessarily buy you better advice, and not paying one doesn’t mean lower-quality service. The thing that actually affects your outcome most is whether the broker genuinely searches the whole market.
When Should You Start Looking for Remortgage Advice?
Most lenders let you lock in a new deal three to six months before your current one ends, often at today’s rate with the flexibility to switch to something better if rates fall before completion. Speaking to a fee-free broker early costs you nothing and gives you time to compare options properly, rather than rushing a decision as your deal expires. Our full [remortgaging guide] covers the process and timing in more detail.
Frequently Asked Questions
Is remortgage advice really free, or are there hidden costs?
With a genuinely fee-free broker, you shouldn’t pay anything for the advice itself. It’s worth asking upfront whether there are exceptions for particularly complex cases.
Will a fee-free broker get me a worse remortgage rate than a fee-charging one?
No. The rate is set by the lender’s product, not by how the broker is paid, so using a fee-free broker doesn’t put you at a disadvantage.
Should I just accept my current lender’s remortgage offer instead of using a broker?
It might be the right choice, but a broker can confirm whether it’s actually competitive against the wider market before you commit, at no cost to you.
Do I pay the broker or the lender when I remortgage?
With a fee-free broker, you pay neither directly, the lender pays the broker’s procuration fee once your new mortgage completes.
How far in advance should I speak to a broker about remortgaging?
Ideally three to six months before your current deal ends, giving you time to compare the market and avoid slipping onto a higher standard variable rate.
Deal ending soon? Get free, no-obligation remortgage advice from our whole-of-market team, with no broker fee.
