Picture this. A few years ago you fixed your mortgage at a rate that felt like a great deal at the time (because it was). Now your fixed period ends in the next few months, and every time you open your banking app, there's a little knot in your stomach. You're not sure what your next rate will look like. You're not sure when you're meant to do something about it. And you're definitely not sure who to ask.
If that's roughly where you are, or you're somewhere near it, this guide is for you.
The single biggest thing we tell clients who come to us about remortgaging is this: start six months before your current deal ends, not six weeks. That one shift gives you breathing room, choice, and the kind of calm that good financial decisions usually need. Here's how it works, what to look at, and the myths that quietly cost people money.
When to Remortgage: The Six-Month Sweet Spot
The reason six months matters is simple. Many lenders will let you secure a new mortgage deal up to six months in advance of your current deal ending, so setting a reminder around that point gives you the most room to act.
Here's why knowing exactly when to remortgage is essential. If rates fall between now and your switch date, you can usually move to a better deal. If they rise, you've already got the lower rate locked in. It's one of the rare moments in finance where you get to wait and see without being penalised for waiting.
What you really want to dodge is sliding onto your lender's Standard Variable Rate (SVR). That's the rate your mortgage usually moves onto when your fixed or discount deal ends, and it is typically higher than the deals available to people who switch. As MoneyHelper points out, the end of your introductory period is when your mortgage might stop being a good deal.
What does that actually mean for your wallet? As an illustration, on a £200,000 repayment mortgage over 25 years, a rate just two percentage points higher adds roughly £220 to £255 a month, or around £2,600 to £3,000 a year, depending on where your rate starts. You can estimate your own monthly repayments with our mortgage tools.
(Figures are illustrative only and are not a quote, offer or advice. Your actual rate will depend on your lender, your loan-to-value, and your circumstances.)
That's the kind of money that covers a family takeaway, a chunk of nursery fees, or a few tanks of diesel every month. And remember, drifting onto SVR is what happens by default if you don't act. It's not a decision; it's what occurs when no decision gets made.
If your fixed deal is coming to an end soon, you're far from alone. Starting early is how you make that landing as soft as possible.
What to Review Before You Remortgage
Before you talk to a broker, or even before you Google "best remortgage rates", it helps to have a few things in front of you. None of this is hard. Most of it is just gathering, not deciding.
Your current rate and end date. Find the exact date. That's your six-month countdown starting point.
Your outstanding balance. Knowing what you owe shapes how much you're remortgaging.
Your property's current value. If you bought in Leeds in 2019 for £210,000 and similar houses on your street are now going for £255,000, you've moved into a better Loan-to-Value (LTV) band, and lower LTV usually unlocks sharper rates. A quick check on Zoopla or Rightmove for similar local sales gets you in the right ballpark.
Income and outgoings. Lenders will reassess. Pay rise? New baby? Switched to freelance? All of it matters. Pull together your last three months of payslips (or your latest accounts or tax calculations if you're self-employed, as some lenders will consider just one year's figures) and a rough sense of your monthly outgoings.
Your credit file. Free to check via ClearScore, Experian or Credit Karma. Takes five minutes. Worth doing before a lender does it for you.
Life circumstances. Are you planning to extend the kitchen? Add a partner to the mortgage? Move within two years? These shape which deal makes sense, and which don't.
Here's the honest bit. Most homeowners don't keep on top of this stuff because life gets in the way. Work, school runs, and the boiler that keeps making that noise. That's why we built Mortgage Monitoring into the Feel Good Financial service. We watch your deal in the background and flag opportunities as they appear, so you're not the one trying to remember whether your fix ends in 2027 or 2028.
Common Remortgaging Misconceptions
There's a lot of folklore around remortgaging. Most of it costs people money. Here are four we hear most often, and what's actually true:
"I have to stay with my current lender." No. Staying is sometimes the right call; what's called a product transfer can be quick, paperwork-light, and feels easy. But it rarely gets you the sharpest rate. The whole of the market is open to you, and a broker can compare deals from a wide panel of lenders in the time it takes you to log into your existing banking app.
"It's only worth remortgaging if rates have dropped significantly." Rates are one piece. Your LTV, your circumstances, the fees, and any cashback can all shift the maths in your favour even if headline rates haven't moved much. Sometimes a small rate cut on a deal with no product fee beats a bigger rate cut that comes with a hefty product fee. The total cost over the deal period is what matters.
"There's no point if I'm only saving £30 a month." £30 a month is £360 a year. Over a five-year fix, that's £1,800. And that's before you factor in not sitting on your lender's SVR. Small monthly savings stack up faster than people expect.
"I can't remortgage because I'm self-employed, or my circumstances have changed." You almost certainly can. If you're a window cleaner with three years of accounts, a contractor with a year-long day-rate contract, or someone who left PAYE for self-employment 18 months ago, there are lenders for you. The high street can be rigid; specialist lenders look at the whole picture. A broker knows which doors to knock on.
When Might Remortgaging Not Quite Be Right?
We'd rather be straight with you than win business we shouldn't. Sometimes the right answer is "not yet", and a good broker will say so.
If you're still inside your fixed period and the Early Repayment Charge (ERC) is steep, typically anything from 1% to 5% of your remaining balance, switching now usually doesn't stack up. The ERC eats the savings.
If you're already inside your six-month window and you've locked in a new rate, you're sorted. Sit tight, but keep half an eye on the market in case something better lands before your switch date.
And if you're planning to move home in the next 12 months, a remortgage probably isn't the right move. Porting your existing mortgage to the new property, or starting fresh on a purchase, is usually the better route.
Honest is faster than fluffy. If now's not the moment, we'll tell you.
Your Next Step on Determining When to Remortgage
If your fixed deal ends in the next six to twelve months, or you've already slipped onto SVR, now is the time to start the conversation, not the week before.
Two easy ways in:
📋 Download our free Remortgaging Guide. Your readiness checklist, the costs to compare and a step-by-step timeline, all in one place. No jargon.
📞 Book a free 15-minute chat with a Feel Good Financial advisor. No pressure. We'll look at where you are, where you want to be, and whether remortgaging makes sense for you. We work with clients across Yorkshire and the wider UK, and our advice on when to remortgage is here whenever you're ready.
Your home may be repossessed if you do not keep up with repayments on your mortgage. The information in this article is for general guidance only and does not constitute financial advice. Speak to a qualified advisor about your individual circumstances. Any figures used are illustrative only.
