If your current mortgage deal ends within the next year, when should you start thinking about your next one?
Mortgage rates can change quickly and, for borrowers coming to the end of a fixed rate, the difference between their existing payment and their next one could be significant.
Planning ahead gives you time to understand that potential change and decide what to do about it.
It’s Never Too Early to Keep an Eye on the Market
You don’t need to be approaching the end of your mortgage deal to take an interest in mortgage rates.
If your fixed rate doesn’t end for another year or two, you probably can’t secure your next mortgage yet.
However, knowing roughly where mortgage rates are can still be useful.
If you currently have a particularly low rate, for example, looking at what your mortgage might cost at today’s rates can give you an idea of how your monthly payments could change in the future.
That gives you time to plan.
You might decide to adjust your household budget, build additional savings or make mortgage overpayments where appropriate and permitted.
Nobody knows exactly where mortgage rates will be when your current deal ends.
The point isn’t to predict them, it’s to avoid being surprised by them.
Around Six / Seven Months Before – Start the Process
For many borrowers, around six to seven months before the existing deal ends is a sensible time to start the formal remortgage process.
Some lenders issue mortgage offers that can remain valid for around six months, although this varies between lenders and products.
This can create an opportunity to explore the wider mortgage market and, where appropriate, secure a new mortgage well before the existing deal expires.
Starting early can be particularly useful when rates are volatile.
If rates subsequently increase, you may already have an option secured.
If rates fall, it may be possible to review the position again and switch to a more competitive product before completion, subject to the lender’s rules and any costs involved.
Although you can start preparing slightly more than six months before, you need to make sure that the timing of your application / offer is in line with the existing product.
For example, if you secure an offer that is valid for six months, but expires prior to your existing product, you will either not be able to use it or may have to pay an early repayment charge to your existing lender.
Starting Six Months Early Doesn’t Mean Remortgaging Six Months Early
This is an important distinction.
If your existing fixed rate has early repayment charges, the intention would normally be to arrange the new mortgage in advance but time the completion for when your current deal ends, or as soon afterwards as appropriate.
That way, you can prepare early without unnecessarily giving up your existing rate or triggering an early repayment charge.
Think of it as getting everything ready rather than changing your mortgage immediately.
Then Look at Your Existing Lender
Moving to another lender isn’t your only option.
Your existing lender may offer a product transfer, allowing you to switch onto another of its mortgage products without moving your mortgage elsewhere.
The timing varies between lenders, but product transfer (PT) options commonly become available around three or four months before the existing deal ends. Some lenders allow customers to secure them earlier.
This means there can be a useful sequence.
At around six months, you can explore the wider market and potentially secure a remortgage if an appropriate product is available.
When your existing lender’s product-transfer options become available, you can compare those against the remortgage already arranged.
You then have a much clearer picture of the choices available.
Don’t Stop Monitoring Once You’ve Secured Something
Securing a mortgage doesn’t necessarily mean you should stop looking at the market.
A lot can happen over several months.
Mortgage rates could increase or they could fall.
Your existing lender could introduce a more competitive product.
Another lender could improve its offering.
Where lender rules allow, having something secured can provide a degree of protection against rising rates while leaving open the possibility of reviewing the position if something better becomes available.
There can be costs or restrictions associated with changing an application or abandoning an existing offer, so this needs to be checked rather than assumed.
The aim isn’t to keep switching for every tiny movement.
It’s simply to make sure that the solution you eventually complete on still makes sense.
Remortgage or Product Transfer?
Neither option is automatically better.
A product transfer with your existing lender can sometimes be simpler and may involve less paperwork, particularly if you aren’t changing the mortgage balance or other aspects of the borrowing.
A remortgage to another lender gives you the opportunity to compare your existing lender with the wider market.
The right answer depends on the products available, fees, your circumstances and what you need the mortgage to do.
This is why looking at both can be important.
What Happens If You Do Nothing?
If your current deal ends and you haven’t arranged another product, your mortgage will normally move onto your lender’s Standard Variable Rate (SVR).
Depending on the lender and the products available at the time, this could mean your monthly payments increase.
Sometimes there may be a reason for remaining on an SVR temporarily, particularly if your circumstances or future plans make committing to another product unsuitable.
However, it should ideally be a decision rather than something that happens simply because the end date was missed.
What Should You Do Beforehand?
If you’re approaching the end of your deal, it can help to have your finances organised.
That might include reviewing:
- Your income and expenditure
- Any loans or credit commitments
- Your credit record
- Your latest payslips or accounts
- Your property’s approximate value
- Your outstanding mortgage balance
- Any plans to move, borrow more or repay some of the mortgage
Your circumstances may have changed considerably since you arranged your last mortgage, particularly if that was five years ago.
Your next mortgage should reflect where you are now and where you expect to be over the next few years.
Our Thoughts
The best time to start thinking about your remortgage isn’t necessarily six months before your fixed rate ends.
It’s now.
That doesn’t mean applying for another mortgage today.
It means understanding where you are, keeping an eye on the market and knowing what a change in rates could mean for your household finances.
Once you reach around six months before your current deal ends, you can usually start looking more seriously at the options available.
Where appropriate, that might mean securing a remortgage with a lender whose offer will remain valid until you need it, comparing this with your existing lender’s product-transfer options when they become available, and continuing to monitor the market until completion.
The objective isn’t to predict the lowest possible mortgage rate.
It’s to plan ahead, understand your options and avoid leaving an important financial decision until the last minute.
Information correct at time of writing – September 2026.
Your home may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Easy Street Financial Services Limited is authorised and regulated by the Financial Conduct Authority. FCA No. 1013595.
