Coming off a fixed rate
The end of a fixed term is the single moment most households quietly start overpaying. Tell us when yours finishes and we will introduce you to an adviser at The Finance Seer.
Your Local Broker is an introducer and does not give advice. Your enquiry is passed to The Finance Seer Ltd, who are authorised and regulated by the Financial Conduct Authority.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Why the end of a fixed term matters so much
When a fixed period ends, most mortgages roll onto the lender standard variable rate automatically. Nobody writes to tell you that you should have acted, and nothing stops it happening. The result is a payment that can jump sharply for no reason other than inertia.
Because that rollover is automatic, the work has to happen before the deadline rather than after it. Starting the conversation several months ahead leaves room to compare options properly instead of accepting whatever is in front of you the week it expires.
Product transfer or a new lender
A product transfer means staying put and taking a new deal from your existing lender. It is usually quicker, involves less paperwork and often skips a fresh affordability assessment, which matters if your circumstances have changed for the worse since you first borrowed.
Moving to a different lender opens up the wider market but means a full application, a valuation and legal work. Whether the difference justifies the effort depends on the numbers and on how straightforward your situation is, which is precisely what an adviser is for.
Borrowing more when you remortgage
Remortgaging is a common moment to raise additional money, most often for home improvements. Lenders will ask what the money is for, and they treat some purposes far more comfortably than others, so the reason genuinely affects the outcome.
Raising money against your home spreads the cost over the mortgage term, which lowers the monthly figure but means paying interest on it for far longer. That trade-off deserves proper thought rather than being waved through because the monthly number looks manageable.
Timing and early repayment charges
Most fixed deals carry an early repayment charge if you leave before the term ends. Leaving early can still make sense, but it only does so once the charge has been weighed against what you would save, and that arithmetic is specific to your deal.
Applications also take time to complete, so a new arrangement is usually set up to begin the moment the old one expires. Beginning the process roughly half a year out is comfortable rather than cautious.
What an adviser will want to know
- Your current mortgage statement, showing the balance and when the deal ends
- Details of any early repayment charge that applies
- Recent proof of income and three months of bank statements
- A rough idea of what your property is worth now
- If you are borrowing more, what the money is for
What happens next
- 1
You tell us what you need
One short form. Name, number, postcode and a line about your situation.
- 2
We pass your details on
We send your enquiry to The Finance Seer, who are authorised and regulated by the Financial Conduct Authority.
- 3
An adviser calls you
Usually within one working day. They will ask questions and explain your options.
- 4
You decide what to do next
Any advice comes from The Finance Seer, not from us. There is no obligation to go ahead.
Common questions
- How early should I start looking at a remortgage?
- Around six months before your current deal ends is comfortable. Many offers stay valid for several months, so starting early lets you secure something and still change course if circumstances shift.
- Will remortgaging hurt my credit file?
- A full application leaves a search on your file, as any credit application does. An adviser at The Finance Seer can discuss your situation before anything formal is submitted, which avoids unnecessary searches.
- Can I remortgage if my circumstances have changed?
- Often, yes, though a change in income or employment can affect the options open to you. Speak to an adviser at The Finance Seer before applying so the approach fits your current position rather than your old one.