Remortgaging: what to organise before your current deal ends

Around six months before: record the dates and the job

MoneyHelper recommends starting your review around six months before a fixed or discounted deal ends. An early review leaves room to find missing information. It does not mean paying off the old mortgage immediately: check the product end date and the separate date on which any early-repayment charge stops. Decide whether you want a new rate only, extra borrowing, a different term, a change of borrowers or a property move.

• Put the deal end date and the early-repayment-charge dates in your diary.
• Record the balance, current payment, repayment type and remaining mortgage term.
• Note planned changes to income, ownership, the property or your retirement date.
• Ask when your existing lender allows a product transfer and when a new lender's offer would expire.

Three to four months before: build the evidence pack

Use this as an organising window, not a lender rule. Make one up-to-date summary of the property and household position, then ask for the actual document list for the route you are considering. Contractor income, self-employment, parental leave, adverse credit or a term extending into retirement can require a more specific discussion. Do not assume that documents accepted for an earlier mortgage will be sufficient now.

• Current mortgage statement and details of any other property-secured borrowing.
• A realistic property-value estimate, with the understanding that the lender's valuation can differ.
• Identity, address and income evidence requested for your circumstances.
• A current spending and debt summary, plus any changes you expect during the new deal.
• Credit reports and a record of any genuine errors or matters needing explanation.

Compare staying, switching and changing the term

A product transfer means choosing a new deal with your existing lender; a remortgage to another lender is a different route. Compare both where available. Ask what checks each route requires, particularly if you are increasing borrowing or changing the term or borrowers. Use the same loan amount, repayment basis and comparison period. If you extend the term, a lower payment can still leave you owing more later.

• Compare payments and interest alongside the remaining balance at the end of the comparison.
• Include product fees, valuation and legal costs, exit charges, any early-repayment charge and any cashback actually available.
• Check whether fees are paid in cash or added to the mortgage; financed fees can also attract interest.
• If you plan to sell, move or refinance again, include the new deal's restrictions and early-repayment charges.

Worked example: a cheaper payment can have a higher cash cost

These are invented quotes for illustrating the arithmetic, not available products. Over 24 months, Quote A costs £900 per month plus a £999 cash-paid product fee; Quote B costs £930 per month with no product fee. A is £30 cheaper each month, but its payments and fee total £22,599 against £22,320 for B: £279 more. This is only a cash-outlay comparison. A complete comparison also needs the remaining debt, repayment basis, other charges and any different future terms.

Once a route is chosen: confirm the offer and implementation

A quote or application is not the same as a completed switch. Keep a dated record of what has been agreed, any outstanding conditions and who is responsible for the next step. Offer validity, valuation, legal work and lender processing vary. If you revisit the rate before completion, ask whether the change affects the existing offer, fee, expiry date or timetable before cancelling anything.

• Confirm the offer expiry and the proposed date for the new rate or mortgage to start.
• Track any outstanding evidence, valuation or legal requirements.
• Check that the proposed completion date fits the existing charge dates.
• Ask how any gap between the old deal ending and the new arrangement starting would be charged.

In the final weeks: check the dates rather than assuming

For a switch to another lender, confirm the redemption figure and charge dates with the people handling completion. For a product transfer, confirm the effective date with the existing lender. Check the first payment amount and date, and keep the confirmation. A hypothetical deal ending on 31 March 2027 might prompt an initial review in October 2026; it does not establish that completing on 31 March is charge-free. The actual product and redemption documents decide that.

• Check the final payment schedule and any fees still to be paid.
• Confirm who will repay the old lender and arrange the new payment instructions.
• Store the completion or product-transfer confirmation with the new deal end date.
• Set your next review reminder using the new documents.

If the deal is already ending or payments look unaffordable

Contact the existing lender promptly and explain the position. Ask about available routes and their consequences rather than assuming a new lender will accept the case in time. If you have several rental-property mortgages, review each loan's charge date and ownership before considering a combined facility. The portfolio comparison tool illustrates the numbers; it does not decide whether a lender can combine the properties.