Remortgage to reduce payments
Last Updated: 11th November 2025
If your current mortgage feels too expensive or you are approaching the end of your fixed rate, a remortgage to reduce payments could help you secure a more affordable monthly repayment. Many homeowners remortgage to access lower interest rates, avoid their lender’s high Standard Variable Rate (SVR), or restructure their mortgage in a way that eases financial pressure.
At AIMS NI, we provide independent, whole-of-market remortgage advice to help homeowners across Northern Ireland reduce their monthly mortgage costs. With experienced advisors available throughout Northern Ireland, we make the process clear, simple and stress-free, even if your circumstances are complex.
What Does It Mean to Remortgage to Reduce Payments?
Remortgaging to reduce payments means switching your existing mortgage to a new deal with the aim of lowering your monthly outgoings. This is typically achieved by securing a better interest rate, extending your mortgage term, adjusting your mortgage type, or consolidating borrowing.
Many homeowners choose to remortgage when:
- Their current fixed rate is ending
- They have moved onto a higher SVR
- Monthly payments have become difficult to manage
- They want more predictability in their financial planning
AIMS NI will assess your situation and recommend the most suitable options to help reduce your monthly repayments.
Reasons Homeowners Remortgage to Reduce Payments
Homeowners across Northern Ireland explore remortgaging to lower payments for several reasons, including:
- Accessing a lower interest rate
- Avoiding or leaving the lender’s Standard Variable Rate
- Reducing monthly financial commitments
- Adjusting mortgage structure after a change in income
- Consolidating debts into the mortgage for simpler payments
- Securing a more suitable long-term mortgage product
Remortgaging can be a practical way to reduce pressure on household budgets and improve financial stability.
How Does Remortgaging to Reduce Payments Work?
Here is a clear breakdown of how the process works:
- Review Your Current Mortgage and Payments
AIMS NI assesses your existing rate, balance, and term to understand your starting point. - Review Your Mortgage Term and Options
Adjusting how long your mortgage runs can impact your monthly payments. - Compare Market Rates and Lenders
We search the whole mortgage market for deals that could lower your monthly cost. - Explore Payment-Reducing Strategies
This may involve securing a lower rate, extending the term, or adjusting the mortgage type. - Submit Your Application
We handle documentation, communication and lender requirements on your behalf. - Switch to Your New Mortgage
Once completed, your monthly payments are updated to reflect the new arrangement.
Who Can Remortgage to Reduce Payments?
You may be able to remortgage to reduce your payments if you:
- Have equity in your property
- Are leaving a fixed-rate deal soon
- Are currently on a high SVR
- Have experienced a change in income
- Need more affordable or predictable payments
- Are self-employed or have a complex income structure
- Have had previous credit issues
Because AIMS NI is independent and whole-of-market, we can support applicants with a wide range of circumstances, including non-standard income and adverse credit.
Ways to Reduce Your Monthly Mortgage Payments
There are several methods that may help you lower your monthly repayments:
Securing a Lower Interest Rate
Lower rates typically result in reduced monthly costs. AIMS NI compares thousands of products from across the market to help you secure the best rate available for your circumstances.
Extending Your Mortgage Term
Extending the repayment period spreads the cost over a longer timeframe, reducing each monthly payment. AIMS NI will explain the long-term implications before recommending this option.
Switching Mortgage Type
Some borrowers consider interest-only arrangements or alternative mortgage structures. These options depend on eligibility and long-term affordability.
Consolidating Debts into Your Mortgage
This can reduce overall monthly outgoings by combining borrowing into one payment. However, it may increase the total amount of interest paid over time. AIMS NI will ensure you fully understand the risks before choosing this route.
Avoiding the Standard Variable Rate
SVR rates are often significantly higher. Remortgaging to a new fixed or tracker deal can reduce payments and provide more certainty.
Benefits of Remortgaging to Reduce Payments
A remortgage to reduce payments may offer several advantages:
- Lower monthly mortgage costs
- Protection against high SVR increases
- More financial breathing space
- Improved budgeting and financial planning
- Access to a more suitable mortgage product
- Potential to reorganise finances through debt consolidation
AIMS NI provides tailored advice to help you understand the most suitable approach for your situation.
Risks and Considerations
Remortgaging to reduce payments is a financial decision that should be made with full understanding of the implications.
Considerations include:
- Extending the term may increase the total cost of the mortgage
- You may incur early repayment charges if exiting your current deal
- Lender affordability checks still apply
Interest rates may change in the future - Consolidating debt may increase the repayment timeline
- Not all applicants will qualify for interest-only or extended-term arrangements
AIMS NI will clearly outline all benefits, risks and long-term impacts before you proceed.
Why Choose AIMS NI for Remortgaging Advice?
Here’s why homeowners across Northern Ireland trust AIMS NI for remortgage support:
- Independent, whole-of-market access
- A trusted, established brokerage serving
- Northern Ireland since 2003
- FCA-regulated, professional advisors
- Expertise in both standard and complex remortgage cases
- Advisors located across Northern Ireland offering in-home or remote meetings
- Clear and straightforward explanations without jargon
- Full support from initial review to completion
Our role is to help you reduce your payments safely while ensuring your mortgage remains suitable for your circumstances.
Reduce Your Monthly Payments with AIMS NI
If you are looking to ease financial pressure or secure a more affordable mortgage, AIMS NI can help you remortgage to reduce payments with confidence.
Our whole-of-market advisors will compare deals, assess your options and guide you through the entire process.
Contact AIMS NI today for a free, no-obligation consultation and discover how much you could reduce your monthly mortgage payments.
Remortgage to Reduce Payments
Yes, many homeowners achieve lower monthly payments by securing a better interest rate, extending their mortgage term or adjusting their mortgage structure. AIMS NI will outline the most suitable options for your circumstances.
Savings vary depending on interest rates, remaining mortgage balance and repayment term. During your consultation, AIMS NI can estimate potential monthly savings.
A good credit score can improve your options, but some lenders will consider applicants with credit issues. AIMS NI can explore specialist lenders where appropriate.
Yes, extending the term can lower monthly payments. However, it may increase the total interest paid. We will explain the long-term implications before you decide.
Most remortgages complete within 4–8 weeks, depending on the lender and whether a valuation is needed.
It can, depending on how the new mortgage is structured. AIMS NI will compare total mortgage costs so you can make an informed choice.
Disclaimer
THE PLAN WILL HAVE NO CASH-IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.
CRITICAL ILLNESS PLANS MAY NOT COVER ALL THE DEFINITIONS OF A CRITICAL ILLNESS. THE DEFINITIONS VARY BETWEEN PRODUCT PROVIDERS AND WILL BE DESCRIBED IN THE KEY FEATURES AND POLICY DOCUMENT IF YOU GO AHEAD WITH A PLAN.
