Your fixed rate is ending — what should you do next?

If your fixed-rate mortgage is coming to an end, doing nothing could be expensive. Here's what happens, and the options worth considering.

What happens when a fixed rate ends?

When your deal period finishes, your mortgage usually reverts to your lender's Standard Variable Rate (SVR) — often noticeably higher than the rate you've been paying. That can mean a jump in your monthly payments, so it's worth acting before that happens.

Start reviewing early

We'd suggest reviewing your options around six months before your current deal ends. A new rate can often be secured in advance and applied as soon as your existing deal finishes, so you avoid slipping onto the SVR.

Your main options

• Product transfer — switching to a new deal with your current lender. Often quick and straightforward.
• Remortgage to a new lender — moving your mortgage elsewhere, which can open up more competitive rates or let you borrow more.
• Do nothing — and move onto the SVR. Rarely the cheapest route, but sometimes useful for short-term flexibility.

Could you release equity?

A remortgage can also be a chance to borrow a little more — for home improvements, for example. Whether that's right for you depends on your circumstances, and we'll talk it through honestly.

Watch for early repayment charges

If you're still within your current deal period, leaving early can trigger an Early Repayment Charge. We'll always factor this in so any switch genuinely works in your favour.

How we can help

We review the whole market and your current lender's deals side by side, then recommend the option that's right for you — and handle the paperwork from start to finish.

This article is general information, not personal advice. For a recommendation tailored to your circumstances, please get in touch. Your home may be repossessed if you do not keep up repayments on your mortgage.