Remortgaging is one of the highest-impact financial moves a homeowner can make. With millions of fixed-rate deals ending in 2025-26, many UK homeowners face a significant jump in monthly payments. Acting early could save you hundreds of pounds a month.
Quick Answer
To remortgage in the UK, start researching new deals 3–6 months before your current fixed rate expires. Compare rates via a mortgage broker or comparison site, check your loan-to-value ratio, and factor in any early repayment charges. The process typically takes 4–8 weeks to complete.
📅 Start early: Begin comparing deals 3-6 months before your current deal ends. Many lenders let you lock in a rate months in advance.
When Should You Remortgage?
The best time is just before your current fixed or tracker deal expires. If you do nothing, your mortgage rolls onto your lender’s Standard Variable Rate (SVR) — typically 1.5-2% higher than the best available fixed rates. Even one month on the SVR wastes money.
You might also remortgage mid-term if: rates have fallen significantly, you want to release equity, your income has changed substantially, or your property has risen in value enough to improve your LTV bracket.
Step 1: Check Your Current Deal
Find out exactly when your deal ends and whether there is an Early Repayment Charge (ERC). ERCs are typically 1-5% of your outstanding balance — make sure any saving from switching outweighs this cost before you act early.
Step 2: Check Your LTV
Your Loan-to-Value ratio is your mortgage balance divided by your current property value. Lower LTVs unlock better rates. If house prices have risen since you bought, you may have moved into a better bracket — for example, from 85% LTV to 75% — which could unlock meaningfully cheaper deals.
Step 3: Compare Deals
- Initial rate: The rate you pay during the fixed or tracker period
- Arrangement fee: Typically £0-£1,500, can be added to the mortgage
- True cost: Rate payments plus fees over the deal period
- Revert rate: What you pay after the deal ends (usually the SVR)
Step 4: Apply and Complete
Once you have chosen a deal, submit an application, pass affordability checks, and complete a property valuation. The whole process typically takes 4-8 weeks, so start well ahead of your deal end date.
☑️ Use a broker: A good whole-of-market mortgage broker accesses deals not available directly to the public. Many charge nothing upfront — their fee comes from the lender on completion.
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