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Around one point eight million fixed rate mortgage deals are set to end in 2026. For most of those borrowers, that means arranging a new home loan. If you are unsure when your deal expires, now is the time to check your paperwork or online account.

Interest rates have swung sharply since late 2021. Many homeowners coming off five year fixes will see higher monthly payments, while those leaving two year deals may actually save hundreds of pounds.

Further Bank of England base rate cuts are expected this year, which could gradually push mortgage rates lower. However, no one can predict with certainty where rates will go, making product choice more important than ever.

If you have not remortgaged for several years, your property may have risen in value. A lower loan to value ratio can unlock access to cheaper deals. Your existing lender may provide a valuation estimate, while those looking to switch should check recent sold prices on major property websites.

One mistake to avoid is drifting onto your lender’s standard variable rate. The average SVR is currently around seven point two five percent, and some are higher. This will almost certainly be more expensive than your current deal.

Mortgage brokers say there are very few situations where staying on the SVR makes sense beyond a short period. On a two hundred and fifty thousand pound mortgage, the difference between an SVR of seven point two five percent and a deal at three point six five percent could exceed five hundred pounds per month.

Exceptions may include borrowers close to repaying their mortgage or those with a very small balance, where product fees could outweigh potential savings.

Most lenders contact customers three to four months before their deal ends and offer a range of new products. Accepting one of these, known as a product transfer, is often quick and involves minimal paperwork or affordability checks.

Switching to a new lender can involve more documentation, plus potential valuation and legal fees, although many lenders now include these for free.

Even so, it pays to shop around. There are more than seven thousand mortgage products currently available in the UK, and better deals may exist outside your current lender.

Price comparison websites and best buy tables can help, but many borrowers choose to use a mortgage broker. A whole of market broker can compare a wide range of products, recommend suitable options, and handle the application process. Some brokers charge fees, while others earn solely from lender commissions.

Fixed mortgage rates are now at their lowest levels since 2022. The best remortgage deals are currently around three point six four percent for two year fixes and three point seven percent for five year fixes.

Longer fixes provide payment certainty, while shorter deals allow flexibility if rates fall further or personal circumstances change. At present, the pricing difference between two and five year fixes is relatively small.

Some borrowers may consider tracker mortgages to benefit from future base rate cuts. However, trackers are currently slightly more expensive than fixed rates, with leading deals around three point nine percent.

Trackers often come without early repayment charges, which can appeal to borrowers expecting a lump sum or planning to refinance again soon.

Mortgage offers can usually be secured up to six months in advance. Reserving a deal now allows you to lock in a rate, while still giving the option to switch if cheaper deals appear before completion.

If rates rise, you benefit from having already secured a lower rate.

Remortgaging can also be an opportunity to release additional funds for home improvements or other expenses. In some cases, borrowing extra from your existing lender may be the cheapest route, although not all lenders allow this.

Careful preparation, early action, and thorough comparison remain the most reliable ways to secure a strong remortgage deal.