Remortgage switching checklist
Last reviewed: 27 July 2026
Start 3 to 6 months before your deal ends. Find your exact deal end date and early repayment charge, get your balance and remaining term, then compare your lender's product transfer rates against remortgaging on the wider market, judged on total cost. Time the new deal to start the day the old one ends, so you never pay the standard variable rate.
Why the timing matters this year
2026 is a heavy year for maturing fixed rates: see the 2026 fixed-rate cliff, tracked for the verified numbers. If your fix is among them, the sequence below is the difference between rolling quietly onto a higher variable rate and stepping straight onto your next deal. For a personal payment estimate, run the payment-shock calculator first.
Step 1: know your numbers (6 months out)
- Find your exact deal end date (mortgage offer, annual statement, or ask the lender). Diary it, minus 6 months.
- Get your current balance and remaining term.
- Find your early repayment charge (ERC) and when it stops applying: see early repayment charges explained.
- Note your current rate and monthly payment.
- Estimate your property's current value. It affects your loan-to-value band, and a lower LTV band usually means better rates.
Step 2: compare your options (4 to 6 months out)
- Ask your current lender what product transfer rates they will offer you.
- Compare against the wider market: the switch or stay tool frames the decision, and a whole-of-market broker sees deals you cannot.
- Compare on total cost over the deal period: rate plus fees, not the headline rate.
- Choose fix length on your plans, not just price: 2-year vs 5-year fix.
- Decide whether to borrow more, shorten the term, or overpay at the switch.
Step 3: apply (3 to 4 months out)
- Product transfer: usually minimal paperwork, no full affordability check, quick.
- Remortgage to a new lender: a full application, so gather ID, bank statements, payslips or SA302s, and your current mortgage statement (the documents checklist covers it).
- Time completion for the day after your current deal ends: no SVR days, no ERC.
- If rates drop after you reserve, ask whether you can move to the better deal. Many lenders allow it before completion.
Step 4: completion and after
- Check the new offer details: rate, term, fees, start date.
- For a remortgage, the new lender's solicitor service repays the old loan.
- Confirm the old mortgage shows as settled and the direct debit is updated.
- Note the first payment date and amount: it can differ in month one.
- Diary the new deal end date, minus 6 months, and go again next time.
This page is information, not advice. Whether a product transfer or a remortgage wins for you depends on your numbers: we introduce you to a regulated mortgage broker who can check both routes. Full background: what happens when your fixed rate ends.
Common questions
When should I start my remortgage?
Three to six months before your current deal ends. New deals can usually be reserved months in advance, so starting early means you move straight from one rate to the next without touching the standard variable rate, and if rates fall before completion you can often still take the cheaper deal.
What happens if I do nothing when my fixed rate ends?
You roll onto your lender's standard variable rate, which is usually well above fixed rates and can change at the lender's discretion. For most borrowers that means an immediate jump in monthly payment, which is why the whole checklist is built around never spending a day on the SVR.
Product transfer or full remortgage: which is better?
Neither, universally. A product transfer with your current lender is fast and usually skips a full affordability check; a remortgage to a new lender opens the whole market and can be cheaper or let you borrow more. Compare on total cost over the deal period, and let a broker check both routes.
Founder, MortgageExplained
Adam spent nearly a decade 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, then introduce you to a regulated broker when you are ready. Every page is written and reviewed by Adam.
Last reviewed: 27 July 2026