Remortgage Timing - When Should HNWIs Review Their Deal?
DIRECTOR AND MORTGAGE ADVISER
Specialist broker for high-earning professionals and complex income cases.
Quick Take
Most HNWIs should start reviewing 6-9 months before their current deal ends. That usually gives enough time to secure a new rate, tidy documents, and compare a product transfer with a full remortgage—including private bank options—without rushing.
Why Timing Matters For HNWIs
Bigger loans, bigger swings: Small rate changes can move monthly costs materially on £1m+ loans.
Complex income: Bonuses, profit share, carried interest, dividends and RSUs can land seasonally; aligning applications with the right evidence can improve outcomes.
Liquidity events: Sale proceeds, vesting, or business distributions may enable restructuring (e.g., part‑repayment, part interest‑only).
Lender capacity: Popular lenders can have longer pipelines near “rate change” cycles; starting earlier protects choice.
Request your fee free mortgage consultation today. No obligation, just sound advice.
The Ideal Review Timeline
6-9 Months Out
Sense‑check objectives (hold, upgrade, borrow more/less, switch to offset or part interest‑only).
Pull indicative borrowing range; identify any obvious friction (LTV, income mix, portfolio leverage).
6 Months Out
Lock a product transfer as a safety net if your lender allows early booking (many do at 3–6 months).
In parallel, explore market options—including private banks for large, complex or asset‑backed cases.
3–1 Months Out
Finalise the chosen route; complete underwriting and valuation steps.
Plan cashflows for completion day (ERC expiry, legal fees, any capital reduction).
On Expiry
Ensure the new product starts the day after the old one ends to avoid rolling to a lender’s standard variable rate (SVR).
Product Transfer Vs Full Remortgage
Product Transfer (Stay With Current Lender)
Usually faster and lighter on paperwork; often no legal work.
Can be secured months ahead; useful as a rate hedge.
May not offer your ideal structure (e.g., limited offset or part‑and‑part choices).
Full Remortgage (Move Lender)
Access to different structures: offset, part interest‑only, split fixed/tracker, or private bank terms.
Potentially sharper pricing or higher borrowing where your profile is better understood.
More steps: valuation, legal work, full underwriting.
Practical Tip: We often pencil in a product transfer early and continue shopping the market; if a stronger offer appears, we switch—mindful of dates and any fees.
How We’ve Helped Clients Like You
These clients faced similar challenges - here’s how we helped them secure the right deal.
Early Repayment Charges (ERCs) And Windows
ERCs usually apply during the fixed/discount period and often step down each year.
Many lenders allow new rates to be booked 3–6 months before expiry; the new deal then starts when the old one ends.
Most fixed deals permit annual overpayments (commonly around 10% of the balance) without triggering ERCs—useful for deploying liquidity efficiently.
If you plan to move home, check portability and whether additional borrowing is available on the same terms.
Always check your original offer for the exact ERC schedule, overpayment allowance and portability rules.
HNWI Triggers To Review Early
Income Change: Moving from PAYE to Limited Liability Partnership, larger bonus, vesting Restricted Stock Units, carried interest crystallisation.
Liquidity Event: Business sale, dividend, inheritance or asset sale enabling part‑repayment or restructuring.
Leverage Shift: Portfolio acquisitions/disposals affecting overall exposure and lender appetite.
Currency Exposure: More income in USD/EUR/CHF etc., which may alter affordability or lender choice.
Property Plans: Renovation, second home, or relocation requiring additional borrowing or bridging.
Market Moves: Material changes in swap rates or lender stress tests.
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Structures Worth Considering At Review
Part Repayment, Part Interest‑Only: Keep payments manageable while targeting capital reduction.
Offset Facilities: Park cash (tax reserves, sale proceeds) while keeping liquidity.
Split Rate: Fix a portion for certainty and run a tracker for optionality (handy if expecting large inflows).
Private Bank Solutions: Some lenders may consider higher loan sizes, flexible interest‑only, or asset‑backed lending for clients with significant AUM—subject to detailed review.
Valuation, LTV And Large Loans
Valuation Sensitivity: A small shift in valuation can move you into a better LTV tier, improving pricing.
Multiple Properties: Where relevant, present a clean snapshot of your portfolio (rents, mortgages, maturities) to avoid delays.
Large Loan Nuance: Documentation and presentation matter more at £1m+—clarity speeds underwriting.
What To Prepare (A Short Checklist)
Latest mortgage statement and original offer (ERCs, overpayment, portability).
ID & residence evidence; source of wealth/funds where relevant.
Income evidence tailored to your profile (payslips and P60; or SA302s/tax year overviews; or LLP accounts/drawings; or contractor day‑rate evidence).
Details of bonuses, dividends, carried interest, RSUs (with award/vesting schedules).
Asset/Liability summary (investments, cash, other mortgages).
Any planned capital events or property works in the next 12–24 months.
What Our Clients Say
How Kite Mortgages Helps
We schedule reviews well before expiry, so you can compare a product transfer with the broader market without pressure.
We translate complex income and liquidity into a tidy lender‑ready narrative.
We curate options across mainstream and private banks, explaining structural trade‑offs in plain English.
We coordinate the moving parts—valuations, legals, timings—so your new deal starts seamlessly when the old one ends.
Request your fee free mortgage consultation today. No obligation, just sound advice.
FAQs
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Some lenders may require six months on title; others consider earlier in defined scenarios. It’s case‑by‑case.
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Sometimes—if the savings outweigh ERCs or you need a different structure. We model scenarios and weigh certainty vs optionality.
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Not always. It’s often quick and competitive, but large or complex cases can price better elsewhere.
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Some lenders may agree, subject to LTV, income and a credible repayment plan (sale, investments, bonus strategy, etc.).
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Sometimes for large, well‑documented cases—especially with AUM. But terms vary; service and flexibility can be the real draw.
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YOUR HOME MAY BE REPOSESSED IF YOU DON’T KEEP UP REPAYMENTS ON YOUR MORTGAGE
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