Is Now the Right Time to Remortgage? A 2026 Checklist.

Thousands of fixed-rate deals are expiring every month in 2026. If yours is among them — or will be in the next six months — this checklist covers the questions you need to answer before you decide whether to switch lender, take a product transfer, or do nothing and revert to the SVR.

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1

When exactly does your deal end?

Check your mortgage offer document or contact your lender directly. Your deal end date determines when any early repayment charges cease to apply — and therefore when you can switch without cost. Most lenders allow you to lock in a new rate up to six months before your deal ends, with the new deal activating on your end date.

Do not rely on memory or a rough recollection of when you took the mortgage. Lenders sometimes have discrepancies between what borrowers recall and what the mortgage offer states. Get the exact date in writing.

2

What is your current outstanding balance and LTV?

Your outstanding balance determines how much you need to borrow on the new deal. Your LTV — calculated as outstanding balance divided by current property value — determines which rate bands you can access. If your property has increased in value since you bought it, your LTV may have fallen into a more favourable band, unlocking better rates.

A free online valuation tool gives a rough estimate of your property’s current value. A formal valuation from a surveyor or RICS-registered estate agent provides more accuracy and can be useful if you are close to an LTV boundary (for example, 74% when 75% LTV triggers meaningfully lower rates).

3

Have your circumstances changed?

Changes in employment, income, or credit profile since your last application can affect both eligibility and the best lender for your next deal. If you have moved from employment to self-employment, had a change in income, or taken on new debt, flag this to your adviser before they start searching — it affects which lenders to target.

Equally, positive changes matter. A significant pay rise, clearing debts, or paying down your mortgage balance all improve your position. Make sure your adviser has an accurate current picture rather than one based on your circumstances at the time of your original application.

4

Product transfer or full remortgage?

A product transfer with your existing lender is faster and involves less paperwork — no new valuation, no solicitor, and typically no hard credit search. It is often the better choice if your circumstances have changed in a way that makes a new full application riskier, or if the rate difference between your lender's retention offer and the open market is small.

A full remortgage to a new lender opens up the whole market but takes longer (typically 4–8 weeks) and involves valuation and legal fees, though many lenders offer these free as an incentive. The rate saving needs to outweigh the cost and hassle — your broker can run this calculation for you.

5

Two-year or five-year fix?

This is the question most borrowers agonise over. The honest answer is that nobody can reliably predict interest rates over a two or five-year horizon. What you can do is decide based on your personal circumstances rather than a rate prediction.

If you expect to move, overpay significantly, or have a change in circumstances within two years, a two-year fix preserves flexibility (lower ERCs sooner). If you value certainty and plan to stay, a five-year fix removes the risk of needing to remortgage during a period of rising rates. In the current market, five-year rates are only marginally above two-year equivalents — the certainty premium is relatively cheap.