Let's be honest — mortgages aren't exactly the most thrilling topic. But when remortgaging at the right time could save you thousands of pounds, it suddenly gets a lot more interesting.
So, can you remortgage before your current deal ends? The short answer is yes — and you probably should start thinking about it sooner than you think.
Here's everything you need to know.
Decision for your circumstances.
What is a Remortgage?
A remortgage is simply swapping your current mortgage for a new one — either with your existing lender or a brand new one.
People remortgage for all kinds of reasons:
• To grab a lower interest rate and cut their monthly payments
• To lock in a fixed rate before interest rates rise further
• To release equity from their home for renovations, holidays, or that kitchen they've been dreaming about
• To dodge the dreaded Standard Variable Rate (SVR) — the expensive fallback rate lenders put you on when your deal expires
That last point is crucial. Most mortgage deals run for two to five years. When the clock runs out, lenders don't just leave you on your nice low rate — they move you onto their SVR, which is typically significantly more expensive. Avoiding that trap alone can save you hundreds of pounds a month.
Many lenders allow you to secure a new mortgage rate up to six months before your current deal ends, giving you the opportunity to plan ahead and potentially save money.
How early can you remortgage?
Here's the good news: most lenders let you secure a new mortgage deal up to six months before your current one ends.
That means you can lock in today's rate now, and it simply kicks in when your existing deal finishes — no overlap, no awkward timing, no drama.
This six-month window is genuinely valuable. Mortgage rates shift constantly, and the rate you can access today might look very different in a few months.
Starting early gives you breathing room to shop around, take advice, and make a confident decision rather than a panicked one.
What Fees Are Payable if I Remortgage Early?
Now for the part that needs a bit more thought.
Early Repayment Charges (ERCs)
If you want to leave your current deal before it actually ends (not just line up the next one), your lender will almost certainly charge you an Early Repayment Charge (ERC).
ERCs are typically calculated as a percentage of your remaining mortgage balance — usually somewhere between 1% and 5%. On a £200,000 mortgage, that could mean a fee of anywhere from £2,000 to £10,000. Not small change.
The ERC is usually the single biggest reason not to remortgage too early — so it's essential to check your current mortgage terms before doing anything.
Other Costs to Factor In
Beyond ERCs, you might also encounter:
• Arrangement fees on your new mortgage
• Valuation fees for your property
• Legal/conveyancing fees
• Broker fees (though many brokers work for free, paid by the lender)
The good news? Many remortgage products come with free valuations and free legal work as standard incentives. So, the real cost of switching is often lower than you'd expect.
However, many remortgage products include incentives such as free valuations and free legal work, helping to reduce the overall cost of switching.
Before proceeding, it's essential to compare any potential savings from a new mortgage deal against the fees involved in leaving your current mortgage early.now.
Should You Remortgage Early?
This is where it gets personal. There's no one-size-fits-all answer, but here's a simple way to think about it:
Remortgaging early probably makes sense if...
✅ Your current deal ends in the next three to six months ✅ You can secure a meaningfully lower interest rate ✅ You want to protect yourself from future rate rises ✅ You need to release equity from your home ✅ The savings from the new deal outweigh any fees involved
It might not be the right move if...
❌ You'd face a large Early Repayment Charge that wipes out any savings ❌ The rate difference between your current deal and a new one is minimal ❌ You're planning to sell or move home in the near future
The sweet spot for most homeowners is to start exploring options around four to six months before their deal expires — early enough to secure a competitive rate, but not so early that ERCs become a problem.
As every situation is different, speaking to a qualified mortgage adviser can help you understand the costs involved and determine the most suitable time to remortgage.
FAQs
Can I remortgage if I'm still in a fixed-rate period? Yes, but you'll likely face an Early Repayment Charge. It's worth calculating whether the savings on a new rate outweigh that cost.
How long does a remortgage take? The process typically takes four to eight weeks from application to completion, which is another good reason to start early.
Can I remortgage with the same lender? Yes — this is called a "product transfer" and is often faster and cheaper than switching lenders, though it may not always offer the best rate available.
Will remortgaging affect my credit score? Applying for a remortgage involves a credit check, which can have a small, temporary impact. Shopping around using a broker who does a soft search first can help minimise this.
The Bottom Line
Remortgaging at the right time is one of the most effective ways to reduce your monthly outgoings and save money over the long term. The key is to plan ahead — ideally starting the conversation four to six months before your current deal ends — so you're never left scrambling or rolled onto an expensive SVR.
Before making any decisions, check your current mortgage terms, understand what (if any) Early Repayment Charges apply, and compare the real cost of switching.
And if you'd rather not navigate all of this alone? That's what we're here for.
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