Should I Move, Remortgage or Stay Put?

Sometimes the Best Mortgage Decision Is Not to Do Anything

If you’ve been in your home for several years, you may find yourself wondering whether it’s time for a change.

Perhaps your family has grown.

Maybe you’ve built up some equity.

Your current mortgage deal might be coming to an end.

Or perhaps you’re simply wondering whether your current home and mortgage are still right for you.

But there are actually three questions worth asking:

Should I move? Should I remortgage? Or should I stay exactly where I am?

There isn’t a universal right answer.

Moving Home

Moving can make sense if your current property no longer works for you.

You might need another bedroom, want a bigger garden, need to relocate for work or simply want a different type of property.

But moving also comes with costs.

You’ll need to consider things such as estate agent fees, legal costs, valuation and mortgage costs, moving expenses and potentially Stamp Duty Land Tax.

It’s therefore important to look at the whole financial picture rather than simply comparing your current mortgage payment with the payment on a new property.

Remortgaging

If you’re happy with your home but your current mortgage deal is coming to an end, remortgaging could be worth considering.

You may be able to find a new deal that better suits your circumstances.

You might also want to raise capital for a specific purpose, although this needs careful consideration because it increases the amount secured against your home.

Remortgaging can also be an opportunity to review your mortgage term and consider whether your circumstances have changed since you last arranged your mortgage.

Staying Put

This option is often overlooked.

There’s nothing wrong with deciding that your current home is exactly where you want to be.

If you’re happy with your property, your mortgage and your monthly payments, staying where you are could be the right decision.

A mortgage review doesn’t automatically mean changing anything.

Sometimes the best advice is simply:

“You’re already in a good position. Stay where you are.”

What About Your Mortgage Rate?

Rates are important, but they aren’t the only factor.

If your current deal is coming to an end, it’s worth looking at what’s available before automatically accepting the first option presented to you.

Equally, if you’re considering moving, you need to understand how your existing mortgage works and whether it can potentially be transferred to another property or whether you’ll need a new mortgage.

The earlier you have that conversation, the more time you have to consider your options.

What Has Changed Since You Last Arranged Your Mortgage?

This is one of the most important questions we ask clients.

Since you arranged your current mortgage, you may have:

• Received a pay rise.
• Changed jobs.
• Become self-employed.
• Paid off debts.
• Started a family.
• Built up savings.
• Increased the value of your property.

Your circumstances may have changed, the mortgage market may have changed and lenders’ criteria may have changed.

So why assume that the mortgage you arranged several years ago is still the best fit today?

Don’t Make the Decision Based on One Number

A common mistake is comparing mortgage rates and making a decision based entirely on which one is lowest.

The bigger question is:

Which option is right for your circumstances and your plans?

A slightly different rate, mortgage term, fee structure or level of flexibility could make a meaningful difference to the overall suitability of a mortgage.

The Conversation Should Come Before the Decision

You don’t need to decide whether you’re moving or remortgaging before speaking to us.

In fact, it’s often better to have the conversation first.

We can help you understand the potential options and the costs involved, allowing you to make a decision based on information rather than guesswork.

You may decide to move.

You may decide to remortgage.

Or you may decide that staying exactly where you are is the best option.

The important thing is that you know why.

Did You Know?

A mortgage review isn’t only useful when you’re certain you want to change your mortgage. It can also provide reassurance that your existing arrangement remains suitable for your circumstances.

Could This Be You?

If you’re wondering whether you should move, remortgage or simply stay where you are, why not have a conversation with Prospect Tree Mortgages?

There’s no obligation, no pressure and no jargon, just straightforward advice to help you understand your options.

Sometimes the hardest part is making the first call, but many of our clients tell us afterwards that they wish they’d contacted us much sooner.

Your home may be repossessed if you do not keep up repayments on your mortgage. The information contained within was correct at time of publication but is subject to change (published 2nd September 2026). This is for information purposes only and does not constitute advice.