If your fixed rate mortgage deal is coming to an end, it’s worth taking action well before your current rate expires. Left too long, you could slip onto your lender’s standard variable rate, which is usually more expensive. Here’s a step by step guide to remortgaging with confidence.

Why your fixed rate ending matters

When your fixed term finishes, your mortgage doesn’t simply stop. Unless you arrange a new deal, you’ll typically move onto your lender’s standard variable rate, which can mean a noticeable jump in your monthly payments. Planning ahead gives you time to explore your options properly, rather than rushing a decision.

Step 1: Know your dates

Check your mortgage offer or annual statement to confirm exactly when your current deal ends. Many lenders allow you to arrange a new deal a number of months in advance, so it’s worth starting the process early rather than waiting until the last minute.

Step 2: Check what your current lender is offering

Your existing lender may offer you a new deal, often called a product transfer. This can be straightforward, but it’s rarely automatically the best option available to you.

Step 3: Explore the whole of market

This is where working with a broker makes a real difference. As we’re not restricted to any particular provider, we compare deals across the whole market to find one that matches your individual needs, not just the first offer on the table. Our mortgages page explains more about how this works.

Step 4: Look beyond the headline rate

The lowest rate isn’t always the best overall deal once you factor in arrangement fees, the length of the new deal, and how it fits your longer term plans. We’ll explain your options clearly so you understand exactly what you’re choosing between.

Step 5: Get advice and apply

Once you’ve chosen a deal, we handle the paperwork and keep you updated throughout, including access to our online tools so you can track progress. Full details are on our about us page.

Remortgaging is also a sensible time to review your protection. If your circumstances have changed since you last arranged cover, it’s worth checking whether your life cover or income protection still reflects your needs.

Common questions

How early should I start the remortgaging process?
It’s sensible to begin exploring your options a few months before your current deal ends, giving you time to secure a new rate without rushing.

Will I have to pay a fee to remortgage?
There may be lender fees involved, and you may also have to pay an early repayment charge to your existing lender if you remortgage before your current deal ends. We’ll explain any costs clearly before you commit.

What happens if I do nothing?
You’ll usually move onto your lender’s standard variable rate automatically, which is often more expensive than arranging a new deal.

Can I remortgage with a different lender?
Yes, and this is often where the best deals are found. As a whole of market broker, we can compare options across many lenders on your behalf.

If your fixed rate is due to end, don’t leave it to chance. Contact us and we’ll help you plan your next move.

Your home may be repossessed if you do not keep up repayments on your mortgage.

You may have to pay an early repayment charge to your existing lender if you remortgage.
As with all insurance policies, conditions and exclusions will apply.