The honest answer is that it depends on your deal, not the headlines. The best time to remortgage is usually three to six months before your current fix ends, so you avoid sliding onto the pricey standard variable rate. Trying to time the market on rates rarely beats lining up a deal before yours expires.
Timing is personal, not national
People ask this expecting a yes or no, but the right time is set by your own deal. If your fix has months to run, leaving it early usually means an early repayment charge that wipes out any saving. If it is ending soon, the priority is to have a new rate ready so you never touch the standard variable rate. Around 1.8 million fixed-rate mortgage deals are scheduled to end in 2026[UK Finance], so many people are at exactly this decision point now.
What about the rate environment?
The Bank of England base rate is 3.75%[Bank of England], but fixed rates follow swap rates, not the base rate, which is why a new fix can be priced above or below it (we explain this on swap rate vs base rate). Trying to perfectly time a rate is a losing game for most people. A more reliable approach is to reserve a deal ahead of your fix ending and switch to a better one if rates fall before completion.
A simple way to decide
Start three to six months before your deal ends, then compare staying with your lender against remortgaging using the switch or stay tool. If you are mid-deal, check whether the saving beats any early repayment charge first. A regulated broker can confirm the numbers for your case. Speak to a regulated broker.
Founder, MortgageExplained
Adam spent over eight years as a mortgage adviser at Just Mortgages, with further experience in commercial finance. He is CeMAP and CF qualified. He built MortgageExplained to do one thing well: explain mortgages in plain English, so you know where you stand before you speak to a regulated broker. Every page on the site is written by Adam.
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