Remortgage timeline: what to do before your mortgage deal ends

Reaching the end of a fixed or discounted mortgage deal without a plan can mean moving onto the lender’s follow-on rate. Starting early gives you time to understand the balance, correct paperwork problems and compare an existing-lender product transfer with a remortgage to another lender.

Six months before: establish the facts

MoneyHelper suggests starting to shop around at least six months before the current deal ends. Check the exact end date, follow-on rate, remaining term and early repayment charge rather than estimating them from memory. Ask the lender for the current balance and find out when it can provide a formal redemption statement.

Use the Mortgage Balance at Renewal calculator to estimate what may remain when the deal ends. Enter the balance today, remaining rate, repayment type and months to renewal. It is a planning estimate, so replace it with the lender’s statement when available.

Review the property value and LTV

Divide the expected balance by a cautious property value using the Loan-to-Value calculator. This can show whether you are near an LTV boundary, but the new lender will use its own valuation and product rules. An estate-agent estimate or online result does not guarantee the valuation used for an offer.

Do not overstate the value merely to reach a lower band. Record a central estimate and a lower-value scenario so you can see how sensitive the LTV is to the valuation.

Three to six months before: compare routes

Request the deals available from your current lender and compare them with remortgage options. A product transfer can involve less paperwork, while moving lender may offer a different rate or features. The FCA explains that a same-lender switch without extra borrowing will often avoid a fresh affordability assessment when payments are up to date, although exceptions apply. A new lender will normally assess affordability and eligibility.

Compare the rate, product fee, legal and valuation costs, incentives, early repayment charge, overpayment rules and rate after the deal period. Use the Mortgage Repayment calculator to put shortlisted balances, terms and rates on the same basis.

Prepare documents and the household budget

A new application may require proof of income, bank statements, identification and details of commitments. Check credit reports for errors and avoid assuming an agreement in principle is a mortgage offer. Stress-test the new payment against regular bills, repairs and a higher-rate scenario.

If your income, employment, credit position or property has changed, allow more time. Leasehold details, building safety questions, a short lease or unusual construction can also slow valuation or legal work.

Before accepting: check dates and conditions

Mortgage offers commonly have a limited validity period. Confirm the expiry date, whether the lender can reserve the product until your existing deal ends and what happens if completion is delayed. Check whether leaving the current deal early would trigger an early repayment charge and whether any new fee is paid upfront or added to the mortgage.

Read the mortgage illustration and offer, not only the headline rate. Make sure the repayment type and term are correct and that any requested additional borrowing is clearly separated from the replacement balance.

If you may move home

Remortgaging shortly before selling can create a new early repayment charge. Porting is not automatic: it normally requires a new application and the lender must accept both the borrower and property. Compare waiting, taking a product with suitable flexibility and discussing the likely move with a regulated adviser.

Limits and official guidance

This timeline cannot predict acceptance, valuation or future rates. Read MoneyHelper’s remortgaging guidance and the FCA’s information about mortgage switching and support. If a move is possible, also review the GOV.UK guide to preparing to sell a home. Seek regulated advice where your circumstances or product terms need a personal recommendation.

When reviewing offers before your deal expires, use our product transfer versus remortgage guide.