Step-by-Step Guide: How to Remortgage When Your Fixed Term Ends
Think carefully before securing any other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or other debts secured on it.
When your fixed mortgage deal ends, your lender will usually move you onto their Standard Variable Rate (SVR). This is rarely competitive and often significantly higher than available deals.
Remortgaging at the right time helps you avoid unnecessary cost — but the process needs to be handled carefully. Below is a clear, practical guide to what happens, when to act, and how to avoid common mistakes.
When Should You Start the Remortgage Process?
Most lenders allow you to secure a new mortgage rate up to six months before your current deal ends.
That means:
You don’t need to wait for the fixed rate to finish
You can protect yourself against rate changes
The new deal can start automatically when the old one ends
Leaving it too late risks falling onto the SVR, even if only for a short period.
Step 1: Check Your Current Mortgage Details
Before doing anything else, confirm:
Your fixed deal end date
Any early repayment charges (ERCs)
Your current mortgage balance
Whether a product transfer is available
A product transfer lets you switch to a new deal with your existing lender, often with minimal paperwork. It’s not always the best option — but it’s always worth checking.
Step 2: Review Your Current Situation
Lenders will assess your current circumstances, not the ones you had years ago.
This includes:
Income structure (employed, self-employed, mixed)
Credit history since your last application
Property type and value
Loan-to-value (LTV)
Even small changes can affect which lenders and products are available.
Step 3: Compare the Right Options (Not All Options)
This is where many people struggle.
In theory, you’d need to:
Identify lenders that accept your income and credit profile
Check property-specific criteria
Compare rates, fees, and incentives
Decide which application to submit first
Some decisions in principle involve hard credit checks, which can reduce your score and limit later options if done incorrectly.
This is why sequence and lender choice matters.
Step 4: Get Documents Ready Early
Delays usually come from missing paperwork. Typical requirements include:
Proof of income
Bank statements
ID and address verification
Existing mortgage details
Having these ready early keeps the process moving and avoids last-minute stress.
Step 5: Submit the Application
Once the right product is chosen, a full application is submitted.
At this stage the lender will:
Carry out underwriting checks
Arrange a valuation (often free for remortgages)
Review affordability and credit
Most remortgages take 2–8 weeks, depending on complexity.
Step 6: Legal Work and Completion
Many remortgage products include:
Free basic legal work
No physical solicitor meetings
A simple transfer process
Once approved, the new mortgage completes automatically when your old deal ends — with no break in payments.
Common Mistakes to Avoid
Homeowners often run into trouble by:
Starting too late
Assuming their old lender will offer the best deal
Applying to multiple lenders unnecessarily
Falling onto the SVR unintentionally
Each of these can cost money or reduce available options.
What If You Do Nothing?
If no action is taken:
Your mortgage moves to the SVR
Monthly payments usually increase
You lose control over rate changes
Even a short period on SVR can cost hundreds unnecessarily.
How We Help
We manage the process from start to finish:
Assess your current deal and circumstances
Identify lenders that fit your exact profile
Secure a new rate early
Monitor progress to avoid delays
Ensure a smooth switch with no SVR exposure
No promises that every case follows the same timeline.
No guarantees of incentives or outcomes.
The Takeaway
Remortgaging when your fixed deal ends is routine — but timing and execution matter.
Start early, understand your options, and avoid assumptions. With the right process, you can switch smoothly, avoid the SVR, and stay in control of your mortgage costs.
