When should you remortgage? The short answer is: usually around three to six months before your current deal ends. Get the timing right and you can slide straight from one deal to the next without paying a penny more than you need to. Get it wrong and you could either land on an expensive standard variable rate or pay an early repayment charge for leaving too soon.
This guide explains how to judge the timing, the risks of acting too late or too early, and the scenarios worth watching. For the bigger picture, see our pillar guide, remortgaging explained.
Start three to six months before your deal ends
Most fixed and discounted mortgage deals run for a set period, often two, three or five years. When that period ends, your lender typically moves you onto its standard variable rate.
Because a mortgage offer is usually valid for up to six months, you can secure a new deal well before your current one finishes. Lining it up in advance means the new rate takes over the moment the old deal ends, with no gap.
As a practical timeline:
- Six months out — check your deal end date and note any early repayment charge.
- Three to four months out — compare the market and apply, so the offer is ready in time.
- Deal end date — your new rate takes effect seamlessly.
The risk of the standard variable rate
If you do nothing when your deal ends, you fall onto the SVR by default. This is the single biggest reason to plan ahead.
The SVR is set by your lender and is often significantly higher than the deals available on the market. It can also change at any time, so your payments become unpredictable. Even a few months on the SVR can cost hundreds of pounds more than a fresh deal would.
Watch out for early repayment charges
Timing is not only about avoiding the SVR. It is also about not leaving your current deal too early.
Most fixed deals carry an early repayment charge (ERC) if you exit before the term ends. This is typically a percentage of the outstanding balance, and it often reduces the closer you get to the end of the deal. On a large balance, an ERC can run into thousands of pounds.
If you are tempted to remortgage mid-deal to grab a lower rate, always check whether the ERC would wipe out the saving. Sometimes waiting a few months until the charge falls away, or disappears entirely, is the smarter move. An adviser can run the numbers both ways.
Rate-change scenarios to consider
Interest rates move, and that affects when remortgaging makes sense. A few common situations:
- You are on a fix and rates have risen. You are protected until your deal ends, so there is no rush, but plan your next move early because the new deal may be higher than your current one.
- You are on a fix and rates have fallen. Check whether the saving from switching early outweighs any ERC. Often it does not, but occasionally it does.
- You are on the SVR or a tracker and rates are climbing. Fixing sooner rather than later could give you certainty and protect your budget.
- Your loan-to-value has improved. If you have paid down the balance or your home has gained value, you may drop into a lower LTV band and qualify for a better rate. This can be a good reason to review your options.
Other moments worth a review
Timing is not only driven by rates. It is worth reviewing your mortgage if:
- Your fixed period is ending within six months.
- Your income or circumstances have changed and you want to adjust your term or payments.
- You want to release equity for home improvements or other plans.
- You are worried about future rate rises and want the certainty of a fix.
Can you remortgage too early?
Yes. Beyond the ERC issue, applying very early has little benefit because offers expire after around six months. Apply too soon and the offer may lapse before your deal ends, meaning you have to start again. Three to six months ahead is the sweet spot for most people.
How advice helps with timing
The right timing depends on your deal, your balance, any ERC and where rates are heading. As a whole-of-market, FCA-regulated adviser, Wisely reviews all of this for you and flags the ideal window to act. Your named adviser can set a reminder well ahead of your deal ending, so you never drift onto the SVR by accident.
Rate and charge figures mentioned here are correct at the time of writing and can change. Your home may be repossessed if you do not keep up repayments on your mortgage.
Plan your remortgage in good time
If your current deal ends within the next six months, now is the moment to start. Book a free, no-obligation call with a Wisely adviser on 023 8268 1111 and we will help you get the timing right.
This guide is general information, not personal financial advice.
Frequently asked questions
How many months before my deal ends should I remortgage?
Around three to six months ahead. A mortgage offer is usually valid for up to six months, so you can secure a new deal in advance and have it take effect the moment your current one ends, avoiding any time on the standard variable rate.
What happens if I do nothing when my mortgage deal ends?
Your lender typically moves you onto its standard variable rate, which is often much higher than the deals on the market and can change at any time. This usually means higher, less predictable monthly payments.
Should I remortgage before my fixed deal ends to get a lower rate?
Only if the saving outweighs any early repayment charge. ERCs are often a percentage of your balance and can be substantial, so always compare the cost of leaving early against the benefit before deciding.
Does an improved loan-to-value affect when I should remortgage?
It can. If you have paid down your balance or your home has risen in value, you may fall into a lower LTV band and qualify for a better rate, which can make reviewing your options worthwhile.