Tracker rate remortgage with no early repayment charges for couple planning to move home in six months
Trinity Financial recently arranged a remortgage for a couple planning to move home in six months. They initially called to confirm their borrowing capacity and request a mortgage affordability check, but after speaking with our mortgage adviser, their plans changed.
What did they do for a living?
Our clients both worked in financial services and live in Islington.
Did they have a complex situation?
They were eager to buy a new property next year and wanted to upsize, starting their search in February. The issue was that their fixed-rate mortgage is due for renewal in March 2026, and their lender did not offer flexible rates to existing customers without early repayment charges.
Were they in a rush to complete?
No, but they wanted to secure a deal sooner rather than later to ensure they avoid their lenders' expensive standard variable rate. While many banks and building societies do not offer flexible mortgages, they do allow borrowers to pay rates often close to 8% and remortgage without paying an exit fee, which means monthly costs frequently rise significantly.
Why did they need our help?
After speaking with our clients, our broker confirmed they did not need to be tied into a new fixed-rate deal, did not need to port their mortgage, and did not plan to request additional borrowing down the line. This is why he discussed trackers with them, and they really seemed to like the idea.
Especially as rates are currently steady, they hope they will continue to decline, with multiple Bank of England base rate cuts expected. What started as an initial affordability check for their next purchase turned into really helping them feel secure in their current situation.
Did we struggle to find a lender?
No. They only required a four-times salary mortgage, so our broker could secure them one of the most competitively priced no early repayment charges tracker rates on the market.
Was the mortgage interest-only or capital-repayment?
The mortgage was on capital repayment.
Was the rate particularly good?
0.19% above the Bank of England baes rate, which is currently 4%. The tracker rate was flexible, allowing borrowers to repay the mortgage at any time without charge.
Where did they get our details from?
They found our contact details online.
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The information contained within was correct at the time of publication but is subject to change.
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