When your fixed-rate ends and you do nothing, you'll move onto your lender's Standard Variable Rate — currently averaging 7–8%. Acting at the right time can save hundreds per month.
When to Start
6 months before your current deal ends. Most lenders let you lock in a new rate 6 months ahead with no obligation — protecting you against rate rises while you search.
Stay or Switch?
Your lender will send retention offers. These are often competitive, but aren't always the best available. Compare against the whole market via a mortgage broker — many are free to you.
What a Better Rate Means
The difference between a 4% and 5% rate on a £250,000 mortgage with 20 years remaining is ~£130/month — £1,560/year. Over a 5-year fix that's £7,800.
Mortgage Calculator
Compare your current rate against new deals to see exactly how much you could save.
🏠 Compare Mortgage Rates →Remortgage Checklist
- Note when your current deal ends
- Get your latest mortgage balance and remaining term
- Find your property's approximate current value
- Calculate your LTV: balance ÷ value × 100
- Compare at your LTV — small reductions unlock better rate bands
- Use a whole-of-market broker (Habito, Trussle, L&C)
- Check for early repayment charges if switching mid-deal