You can usually start the remortgage process around six months before your fixed rate ends. Many lenders let you secure a new mortgage offer several months before your current deal expires, often around six months, though this varies depending on the lender. That means your new deal can start as soon as your current one ends, without slipping onto a Standard Variable Rate (SVR).
It's also possible to remortgage while you're still in your fixed term, but this usually triggers an early repayment charge (ERC), so it's worth checking whether the saving is worth the cost.
With around 1.8 million fixed-rate mortgages ending in 2026, many borrowers are getting a head start. Understanding what a remortgage is and when to apply helps you plan your next move.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Most borrowers lock in a new deal around six months before their current rate expires. Securing a rate early works a bit like insurance if interest rates rise. Whether it saves you money depends on fees, charges, and how long you stay on the new deal.
Most fixed-rate mortgage offers last up to six months, giving you plenty of time to complete your remortgage and sort out the legal work. If interest rates drop after you secure a deal, your broker may be able to check whether a different rate is available, depending on the lender and the stage of your application.
Knowing when to remortgage helps you avoid gaps between deals. Remortgaging is treated as a new mortgage application, so your lender will check your income, credit history, and whether you can afford the new deal.
Remortgaging early usually makes sense if the long-term savings outweigh the cost of leaving your deal early. This will depend on your current rate and whether you need to borrow more.
Note: consolidating debts into your mortgage could mean you pay more overall, and your home may be at risk if you do not keep up with repayments.
The right timing will depend on your current deal, any early repayment charges, and your personal circumstances. You can learn more in our guide to early repayment charges.
You avoid your lender's SVR by lining up a new mortgage deal before your fixed term ends. The so-called 'SVR cliff' is what happens when your fixed deal expires, and your bank automatically moves you to its default, undiscounted interest rate.
Recent market reporting suggests standard variable rates have averaged above 7%, although this can change over time. If you do nothing, your monthly payments can increase quickly once the higher rate kicks in.
Preparing your application around six months early helps your new deal start as soon as your current one ends.
Read our complete breakdown of standard variable rate mortgages to understand the full cost of doing nothing.
Remortgaging early may be worth it if your long-term interest savings exceed the cost of the ERC and legal fees. If interest rates have dropped significantly since you fixed, or if you need to release equity urgently, paying a fee (often around 1% to 5%) could save you money over the next few years. This depends on your individual circumstances.
To work this out, calculate how much the new interest rate saves you over the full duration of the new fixed-term mortgage. If those savings are larger than the penalty fee, switching now could make financial sense.
However, this depends on how long you plan to stay on the new deal and the total cost of switching.
In some cases, you might also be able to port your mortgage to a new home instead, which could help you avoid early repayment charges altogether.
An ERC usually costs between 1% and 5% of whatever you still owe. The percentage typically decreases the closer you are to the end of your fixed term.
For example, if you have a £200,000 mortgage balance and your lender charges a 2% exit fee, it will cost £4,000 to leave early. Always ask your lender for an exact redemption statement before committing to a switch.
A product transfer is usually faster and simpler, while a full remortgage may give you access to more competitive deals.
If you want a quick switch, a product transfer (staying with your current lender) may suit you. You are limited to the deals your current lender offers, which may not always be the most competitive.
A full remortgage means moving your debt to a new lender. When you use Habito, we check both your current offers and deals across a wide range of lenders to help you find a competitive option based on your situation. This usually involves a property valuation, credit checks, and legal work.
Habito is authorised and regulated by the Financial Conduct Authority (FRN 714187).
Getting your finances in good shape before you apply makes a real difference. Lenders want to see that you can comfortably afford the new deal.
Focus on:
If you've had a few financial blips in the past, you still have options. Explore our guide to remortgaging with bad credit.
Whether remortgaging early is right for you depends on your individual circumstances and any fees involved. Taking a few minutes to compare your options early can help you avoid rushed decisions later.
Ready to find your next deal? Chat with a Habito expert today.
Your home may be repossessed if you do not keep up repayments on your mortgage.
This article is for general information only and is not personal financial advice.
Yes, but it will usually trigger a costly ERC. There is an important difference between shopping for a new deal six months early (which is free) and actually switching your mortgage before the term ends (which incurs penalties).
You can also check whether your current lender offers a product transfer, which may help you avoid early repayment charges entirely.
Many lenders allow you to secure a new deal around six months before your current rate ends. This window gives you time to lock in a rate, process the paperwork, and complete the legal steps without falling onto a more expensive default rate.
Check out our guide on how to remortgage for a step-by-step breakdown.
You can technically remortgage 12 months early, but you will almost certainly face very high early repayment charges for breaking your contract so soon. Because most mortgage offers are only valid for around six months, you cannot lock in a rate today and wait a full year to complete.
Six months is roughly how long most mortgage offers remain valid. Starting early provides a useful buffer for the legal work to be completed, so you don't accidentally slip onto your lender's more expensive standard variable rate.
Your lender will automatically move you onto their SVR. There is no fixed penalty fee for doing nothing, but you will start paying a higher interest rate, which increases your monthly mortgage payment straight away.
A remortgage often takes several weeks to complete. In most cases, a remortgage takes several weeks to complete, depending on your lender, solicitor, and how straightforward your case is. Starting a few months early helps you avoid a costly overlap on the SVR. If you want a clearer idea of timings, see our guide on how long remortgaging takes.
Yes, if you are switching to a completely new lender. The solicitor handles the legal transfer of the property deed. If you are doing a product transfer with your existing lender, no legal work is required.
Many Habito remortgage deals include free legal work as part of the package.
How do mortgages work? And what are the different types of mortgage out there? We’ve got all the key facts here.
Here we’ll explain when you can remortgage, when you should start the process, and share a few examples of when it might not make sense.
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