When Should You Remortgage in 2026?
2026 is set to be a big year for remortgages. So far this year, there were over 41,000 remortgages approved in February, an increase of 7% since January.
If your fixed rate is ending soon, or already has, you’re probably asking yourself the same question thousands of UK homeowners are asking right now: when is the right time to remortgage?
The honest answer is that timing matters more than most borrowers realise. Act too late and you could end up on your lender’s Standard Variable Rate (SVR), which is almost always significantly more expensive than any fixed deal. Act too early without checking the numbers, and you could face costly early repayment charges that wipe out any potential savings.
Here’s what you need to know about when to remortgage in the current climate.
If your fixed deal is ending, don’t wait
The most important trigger for remortgaging is straightforward, your current fixed rate deal is coming to an end. Most lenders will roll you onto their SVR automatically once your initial term expires, and SVRs in the UK currently sit above competitive fixed rate levels. That difference, applied to a typical mortgage balance, can easily add hundreds of pounds to your monthly repayments.
The good news is you don’t have to wait until the final day of your deal. Most lenders allow you to secure a new rate up to six months in advance, with some offering a window of up to twelve months. Starting that process early means you can lock in a rate now, without actually switching until your current deal ends.
What’s happening with rate trends in 2026?
Mortgage rates have been on a gradually downward path following the Bank of England’s rate-cutting cycle, though they remain elevated compared to the historic lows of 2020–2021. The best remortgage rates in the UK today are broadly competitive, particularly for borrowers with significant equity in their property.
The direction of travel matters when you’re deciding whether to fix for two or five years. A shorter fix gives you flexibility if rates fall further whereas a longer fix offers certainty if they stabilise or edge upward. There’s no universally right answer as it depends on your appetite for risk and your financial plans. Each client we speak to has a unique situation so speaking to a broker who monitors remortgage deals UK-wide, across the full market, can mean you won’t miss a better deal because you only approached your existing lender.
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Early repayment charges: the cost of moving too soon
If you’re mid-fix and tempted to switch because rates have moved in your favour, early repayment charges (ERCs) are the first thing to check. These typically range from 1% to 5% of your outstanding mortgage balance, depending on how far into your deal you are.
On a £250,000 mortgage, a 3% ERC amounts to £7,500. That’s a significant upfront cost that needs to be weighed carefully against what you’d save by switching to a lower rate. In some cases, it still makes financial sense but only if the maths stacks up over a reasonable timeframe. A whole-of-market mortgage broker like Exe Mortgages can run those calculations for you quickly and clearly.
Switching lender vs. staying put
When your deal ends, you have two options. You can either remortgage to a new lender or take a product transfer with your existing one. Both have merit, and neither is automatically the better choice as everyone’s situation is different.
Product transfers are fast and simple. Your lender offers you a new rate and you can accept it with minimal paperwork. Because your existing lender only offers their own products, the wider market may have better remortgage deals available, particularly if your loan-to-value has improved since you originally borrowed, or if your income has changed.
A broker’s job is to compare both routes honestly and tell you which genuinely serves your interests, not just which is most convenient.
The bottom line
The right time to remortgage is usually earlier than you think. If you’re within six months of your deal ending, now is the time to start comparing. If you’re already on an SVR, act today.
Whether you’re looking for the best remortgage rates for a straightforward residential property or navigating something more complex, independent advice makes a real difference to the outcome.
Ready to explore your options? Get in touch with our expert advisers for a no-obligation remortgage review.
Frequently Asked Questions
- Can I remortgage before my fixed rate ends?
In most cases you can. The majority of lenders allow you to secure a new remortgage deal up to six months before your current fixed rate expires, and some will go as far as twelve months. This means you can lock in a competitive rate now without triggering any early repayment charges, as the switch doesn’t complete until your existing deal ends. It’s one of the most effective ways to avoid landing on your lender’s SVR without any gap in fixed rate protection.
- How do I know if the best remortgage rates are available to me?
The rates you can access depend on several factors. Primarily your loan-to-value (LTV), credit history, income, and the type of property you own will all play a part. Borrowers with more equity in their home typically unlock the most competitive remortgage deals in the UK. The only reliable way to know what’s genuinely available to you is to have a whole-of-market broker search across lenders on your behalf, rather than relying on what your existing lender alone puts in front of you.
- When to remortgage if I'm already on my lender's SVR?
As soon as possible. There’s no fixed-rate deal left to protect, which means no early repayment charges stand in your way. Every month you remain on an SVR is likely costing you more than a new fixed deal would. The application and switching process typically takes four to eight weeks, so the sooner you start, the sooner your repayments come down.
- Is it worth paying an early repayment charge to remortgage early?
Sometimes, it can be but it requires careful calculation. If the saving from switching to a lower rate outweighs the cost of the ERC over a reasonable period, it can make financial sense to exit your current deal early. For example, saving £200 per month on repayments could offset a £3,000 ERC within fifteen months. A mortgage broker can model this for you quickly, so you’re making the decision based on numbers rather than guesswork.
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