The Remortgage Window Is Closer Than You Think
According to UK Finance's latest mortgage market forecast*, around 1.8 million fixed-rate mortgages are due to expire in 2026, with remortgaging activity expected to increase as borrowers reassess their options in a changing interest rate environment. For many homeowners, that means an important financial decision is approaching sooner than they might think.
If your fixed-rate deal is due to end within the next 12 months, now is the ideal time to start reviewing your options. Acting early can provide greater flexibility, more choice and valuable peace of mind, while leaving it until the final weeks can add unnecessary pressure.
Why Timing Matters
One of the biggest misconceptions around remortgaging is that you need to wait until your current deal comes to an end before taking action.
Many lenders allow borrowers to secure a new mortgage deal several months in advance, giving you time to compare options, seek advice and make an informed decision without the pressure of an imminent deadline.
Three Common Remortgage Mistakes
1. Leaving It Too Late
Many homeowners don't start thinking about their mortgage until they receive a reminder from their lender. However, reviewing your options around three to six months before your deal ends gives you time to understand your choices and prepare properly.
2. Automatically Moving onto the Standard Variable Rate
If no new mortgage arrangement is in place when your fixed rate ends, you'll usually move onto your lender's Standard Variable Rate (SVR), which could result in significantly higher monthly payments. Exploring your options early can help avoid unexpected increases in costs.
3. Focusing Solely on Interest Rates
A competitive rate is important, but so are product fees, flexibility, overpayment options and your future plans. The cheapest deal isn't always the most suitable one.
How Early Preparation Creates More Options
Starting early allows you to:
- Assess how your financial circumstances may have changed.
- Understand how future repayments could affect your budget.
- Compare products and mortgage terms more thoroughly.
- Take professional advice before decisions become urgent.
Most importantly, it can make the entire remortgaging process significantly less stressful.
Don't Forget the Bigger Financial Picture
A mortgage review is also a good opportunity to review your wider financial arrangements. If your circumstances have changed, such as getting married, starting a family, changing jobs or buying a larger home, it may be worth reviewing any life insurance, critical illness cover or income protection policies at the same time.
How Rettie Financial Services Can Help
Our experienced Mortgage & Protection Advisors can help you understand your options and prepare for your next mortgage deal. Through our Mortgage Monitoring Service, we'll help ensure you don't miss important dates and have the information you need to make informed decisions.
Start Planning Today
If your fixed-rate mortgage is due to end within the next 12 months, now is the perfect time to start preparing.
Acting early may not guarantee a lower rate, but it can give you something equally valuable: more choice, more time and greater confidence that you're making the right decision for your circumstances.
To arrange a free, initial, no-obligation consultation with one of our Mortgage & Protection Advisors, get in touch with Rettie Financial Services today.
*Source: UK Finance Mortgage Market Forecast 2026. Around 1.8 million fixed-rate mortgages are forecast to mature in 2026, with external remortgaging activity expected to increase by approximately 10%.