As thousands of UK homeowners approach the end of their fixed-rate deals, the question on everyone’s mind is the same — is now the right time to remortgage?
With interest rates fluctuating and inflation gradually easing, timing your remortgage could save (or cost) you hundreds each month. This guide explores how to make that decision wisely — and how Mortgage Knight can help you secure a deal that suits your circumstances.
Why So Many People Are Remortgaging in 2025
After years of rising interest rates, the market is showing signs of stabilisation.
The average 5-year fixed rate has fallen below 4.5% for the first time since 2022, with some lenders even offering sub-4% deals for low-risk borrowers.
But many homeowners are still sitting on Standard Variable Rates (SVRs) of 6–8%, often without realising how much they could save by switching.
If your deal ends within the next six months, this is a crucial time to act.
When Is the Best Time to Remortgage?
A good rule of thumb is to start looking 3–6 months before your current deal expires.
This allows time to lock in a rate before lenders adjust to any changes in Bank of England policy.
Even if rates fall after you apply, some lenders let you switch to a better deal before completion, so there’s little downside to securing an offer early.
Example:
If your £250,000 mortgage moves from 6.5% (SVR) to 4.3%, your monthly payment could drop by over £360 — a significant saving.
Key Factors to Consider Before Remortgaging
Before you make a move, weigh up these key points:
- Early Repayment Charges (ERCs): Check if your current lender charges a fee to leave early.
- Loan-to-Value (LTV): If your property has risen in value, you may now qualify for better rates.
- Debt or income changes: If your finances have shifted, a broker can help match you to lenders that understand your situation.
- Product transfer vs new lender: Sometimes staying with your current lender (product transfer) is simplest — but not always cheapest.
Fixed, Tracker, or Variable — What’s Best in 2025?
With inflation softening, economists predict the Bank of England base rate could ease gradually through 2026.
That means shorter-term fixed deals (2–3 years) are becoming popular again, offering flexibility if rates continue to fall.
However, if stability matters most, a 5-year fix may still give you peace of mind.
Your best option depends on your long-term plans — and a whole-of-market broker like Mortgage Knight can guide you through the pros and cons of each.
How a Mortgage Broker Can Help
Remortgaging isn’t just about finding the lowest rate — it’s about finding a deal that fits your goals.
Mortgage Knight compares over 90 UK lenders, including high street and specialist names, to make sure you don’t miss hidden offers.
We’ll also help you:
- Calculate potential savings and break-even points.
- Identify lenders with the most flexible affordability rules.
- Handle the entire switch with minimal paperwork and stress.
Case Studies
Case Study 1: Laura – Fixed Deal Ending in December 2025
Laura’s 2.19% deal from 2020 was expiring, and her lender’s SVR was 6.9%. She secured a 5-year fixed deal at 4.35% via Mortgage Knight, saving £290/month and gaining long-term stability.
Case Study 2: Tom & Rachel – House Value Increased
After their home in Bristol rose from £300k to £345k, their LTV dropped below 75%. This allowed them to access better rates and refinance to a lower repayment plan.
Case Study 3: Emma – Freelance Graphic Designer
Emma’s variable income made high street approval tricky. With help from Mortgage Knight, she switched to a lender specialising in self-employed borrowers, avoiding a £5,000 annual overpayment.
Frequently Asked Questions
Q1. Should I remortgage now or wait for rates to drop?
Ans: If your deal ends within six months, start now. You can often switch later if rates fall before completion
Q2. Can I remortgage if my income has changed?
Ans: Yes, but you’ll need to show consistent income over recent months. A broker can find lenders who assess affordability more flexibly.
Q3. How long does a remortgage take?
Ans: Typically 4–8 weeks, depending on the lender and valuation process.
Q4. Are there fees involved?
Ans: Most lenders charge valuation and legal fees, but some offer fee-free options. Mortgage Knight’s broker fee is transparent at £495.
Q5. What if my credit score isn’t perfect?
Ans: Specialist lenders often accept mild credit issues. Always check your credit report before applying.
Professional Remortgage Guidance
Don’t wait until your fixed deal ends — act early to protect your rate. Get expert remortgage advice from Mortgage Knight and explore deals from over 90 UK lenders.
👉 Compare Remortgage Deals Now
