When Should I Start Looking for My Remortgage Deal?

If you’ve got a mortgage, chances are you’ve seen your monthly payments rise sharply in the last couple of years. Whether you’re on a fixed rate that’s about to end, or you’ve already slipped onto your lender’s standard variable rate, the big question we often get asked is: 

“When should I start looking for my remortgage deal?” 

And the short answer? Sooner than you think. 

At Brancaster House Financial Planning, we support people across Norwich and Norfolk in making sense of big financial decisions—including their mortgage. In this post, we’ll break down when and why to start looking for a new deal, what to expect from the process, and how to avoid the most common (and costly) pitfalls. 

Why Timing Matters with Remortgaging 

Let’s start with the basics. A remortgage simply means switching your current mortgage to a new deal. That could be with your existing lender or a new one altogether. People remortgage to: 

• Get a better interest rate  

• Fix their monthly payments  

• Borrow more for home improvements  

• Adjust the length or terms of their mortgage  

  
  

But here’s the catch: if you wait until your deal ends before acting, you could end up paying far more than necessary. 

Most fixed-rate deals automatically roll over to the lender’s standard variable rate (SVR) when they end. This rate is often significantly higher—sometimes by several percentage points. Even just a few months on the SVR can cost you hundreds of pounds more. 

So, When Should You Start Looking? 

In most cases, you should start shopping around 6 months before your current deal ends. 

Many lenders allow you to secure a new rate up to 6 months in advance. This means: 

• You can lock in a deal early (especially useful in a rising rate environment)  

• Your new rate doesn’t start until your current deal ends  

• You’ve got time to compare options, gather paperwork, and avoid rushing decisions  

  
  

If interest rates improve between now and the start date, some lenders will even let you switch to a better rate closer to completion—so you’ve got flexibility both ways. 

Why Leave It So Long? 

We know what you might be thinking: 

“Six months ahead? That feels a bit early.” 

But here’s why that timing works: 

1. You’re not rushed 

Trying to sort a remortgage with just a few weeks to go can feel like cramming for an exam. Remember, the process itself can take 4-8 weeks from application to completion, so you might rush into a deal that’s not right, or miss important details. 

2. You’re protected from rate rises 

If interest rates climb over the next few months, locking in early gives you a buffer. 

3. You’ve got time to fix any hiccups 

If your credit score needs work, your income has changed, or you need updated paperwork from your accountant or employer—starting early gives you breathing space. 

What You’ll Need to Get Started with your remortgage 

Remortgaging is generally simpler than applying for a mortgage for the first time, but there are still things you’ll need to provide. Lenders will usually ask for: 

• Proof of income (payslips or tax returns if self-employed)  

• Details of your existing mortgage  

• Up-to-date bank statements  

• Information about any debts or financial commitments  

• A credit check  

  
  

You’ll also need to think about whether you want: 

• A fixed rate (for predictable payments)  

• A tracker (which moves with the Bank of England base rate)  

• A longer or shorter term  

• To borrow more (e.g. for renovations or debt consolidation)  

  
  

An independent adviser can help you weigh up the pros and cons and find a deal that fits your circumstances. 

What If I’m already on the SVR (Standard Variable Rate)? 

If your fixed-rate deal has already ended and you’ve been moved to the SVR, don’t panic—but don’t wait around either. 

Every month you spend on the standard variable rate is potentially money wasted. We recommend speaking to an adviser or starting your own comparison as soon as possible. In most cases, even switching back onto a new fixed-rate deal with the same lender could save you hundreds of pounds a year. 

Should I Stick With My Current Lender? 

That depends. Sometimes your current lender will offer a decent “product transfer” deal that doesn’t require a full remortgage application. That can be quicker and easier. 

But it’s always worth comparing this with what’s available elsewhere. Other lenders may offer better rates or incentives (like free legal fees or valuation costs), especially if you’ve built up more equity in your home since your last deal. 

An independent mortgage adviser can help you compare deals across the whole market—not just one provider—and explain the pros and cons of switching. 

Real-Life Example: Laura from Norwich

Laura, 45, came to us four months before her five-year fixed mortgage deal was due to end. She hadn’t thought to look yet, but her neighbour had just remortgaged and mentioned their payments were going up. 

After reviewing her situation, we helped Laura secure a new five-year deal with a different lender, saving her just over £130 per month compared to her lender’s SVR. Because we started early, there was no gap between the old deal ending and the new one starting. And she avoided the stress of last-minute paperwork and rushed decisions. 

What Happens If Rates Go Down After I Lock In? 

It’s a fair question—and one we hear a lot, especially when the market is a bit volatile. 

The good news is: locking in early doesn’t mean you’re stuck. 

Many lenders will let you switch to a better rate with them if it becomes available before your new deal starts. And even if not, the peace of mind of knowing your future payments are sorted is often worth it. 

A mortgage adviser can keep an eye on rate movements for you and help you decide whether it’s worth switching before completion. 

Final Thoughts: Don’t Leave It Too Late 

Remortgaging might not be the most exciting task on your to-do list, but it can make a big difference to your monthly outgoings—and your financial wellbeing more broadly. 

With interest rates still in the spotlight and household budgets feeling the pinch, getting ahead of your remortgage could be one of the smartest financial decisions you make this year. 

At Brancaster House, we’re here to help you navigate the process with confidence.  Whether you’re a homeowner, landlord, or local business owner with a mortgage tied to your premises, we’ll help you find a deal that works for you.