Housing

When and How to Remortgage: Everything You Need to Know

April 2026 · 6 min read · QuidCast Guides

⚠️ Not financial advice. This guide is educational only. Investments can fall as well as rise. Always consult an FCA-authorised adviser before making financial decisions.

Quick answer

When a fixed deal ends and you do nothing, you roll onto a standard variable rate averaging 7–8%. Start looking around 6 months before your deal ends — many lenders let you lock a new rate that early — and compare retention offers against the whole market via a broker.

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.

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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

Frequently asked questions

When should I start remortgaging?

Around 6 months before your current deal ends. Most lenders let you lock in a new rate that far ahead with no obligation, protecting you against rate rises while you keep comparing the market.

What happens if I don't remortgage?

You move onto your lender's standard variable rate, currently averaging around 7–8% — far above typical fixed deals. On a £250,000 mortgage that can cost hundreds of pounds more a month.

Are my lender's retention offers the best deal?

Often competitive, but not always the cheapest. It is worth comparing them against the whole market, frequently via a mortgage broker — many are free to you — before deciding to stay or switch.