If you already own your home and have a mortgage, remortgaging is something you’ll probably do more than once. Yet many homeowners aren’t quite sure when they should start looking into it.
Is it too early? Too late? And what happens if you leave it too long?
In this guide, we’ll explain when you should sort out your remortgage, why timing matters, and how planning ahead could save you money and stress — all in plain English.
What Does Remortgaging Mean?
Remortgaging simply means switching your current mortgage to a new deal, either with your existing lender or a new one.
People usually remortgage to:
- Avoid higher payments when a deal ends
- Secure a new fixed or tracker rate
- Reduce monthly payments
- Borrow extra money
- Adjust the length of their mortgage
The key is knowing when to act.
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The Most Important Date: When Your Current Deal Ends
Your mortgage deal will usually have a fixed, tracker, or discounted period. When this ends, most mortgages move onto something called a standard variable rate (SVR).
SVRs are typically much higher than fixed or tracker deals, which means your monthly payments can rise suddenly.
That’s why timing your remortgage is so important.
When Is the Best Time to Start Looking at a Remortgage?
In most cases, you should start looking at your remortgage around 6 months before your current deal ends.
Here’s why this works well:
- Many lenders allow you to secure a new mortgage deal up to 6 months in advance
- You can lock in a rate early, even if rates rise later
- You still have time to change your mind if a better option appears
Waiting until the last minute can limit your choices and increase the risk of higher payments.
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What Happens If I Leave It Too Late?
If your mortgage deal ends and you haven’t arranged a remortgage, your lender will usually move you onto their standard variable rate automatically.
This can mean:
- Higher monthly repayments
- Less control over your finances
- Paying more interest than necessary
Even a few months on a higher rate can cost hundreds — sometimes thousands — of pounds.
Can I Remortgage Early?
Yes, but it’s important to check whether early repayment charges apply.
Many fixed-rate mortgages have fees for leaving early, often expressed as a percentage of your mortgage balance. These charges usually reduce the closer you get to the end of your deal.
In some cases:
- Remortgaging early still makes sense
- The savings outweigh the fees
- A product transfer with your current lender may help
This is where advice can really make a difference.
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Remortgaging If You Want to Borrow More
If you’re planning home improvements, consolidating debts, or need extra funds for another reason, remortgaging can be an opportunity to borrow more.
However:
- You’ll need to pass an affordability check
- Your property value and loan-to-value will matter
- Timing your remortgage well can reduce costs
Starting early gives you more flexibility and time to plan.
Have Your Circumstances Changed Since You Took Your Mortgage Out?
Even if your deal isn’t ending soon, it may be worth reviewing your mortgage if your situation has changed, such as:
- Your income has increased or decreased
- You’ve become self-employed
- Household bills have risen
- Your property value has gone up
A mortgage that suited you a few years ago may not be right today.
How Long Does a Remortgage Take?
A remortgage can take anywhere from a few weeks to a couple of months, depending on:
- Whether you stay with your current lender
- If a property valuation is needed
- How complex your income is
Starting the process early helps avoid pressure and rushed decisions.
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Should I Stay With My Current Lender or Switch?
Some people assume staying put is easier — and sometimes it is. However, switching lenders may offer:
- Lower interest rates
- More flexible terms
- Better long-term value
The right option depends on your goals, not just convenience.
How HLC Mortgages Can Help
Sorting out a remortgage doesn’t have to be stressful or time-consuming.
At HLC Mortgages, we:
- Review your current mortgage
- Explain your options clearly
- Compare lenders across the market
- Help you secure the most suitable deal for you
We’ll guide you through the process and handle the paperwork, so nothing gets missed.
Final Thoughts
The best time to sort out your remortgage is usually around six months before your current deal ends — but every situation is different.
Planning ahead gives you more choice, more control, and more confidence in your next step.
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Think carefully before securing your debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.