Remortgaging in Guernsey

Remortgaging in Guernsey follows the same principles as the mainland: replacing an existing loan with a new one at the end of a fixed or discounted period, raising capital, or changing repayment type.

Because the Guernsey lender pool is smaller, borrowers reaching the end of a product term have fewer switching options, and Guernsey’s mortgage interest relief rules historically required the loan to be from a Guernsey lender for relief to be claimed on a principal private residence. Reviewing the market before the existing rate expires avoids defaulting onto a lender’s standard variable rate.