When your agreed mortgage deal comes to an end, you could end up paying a higher rate, known as the standard variable rate, or SVR. This means you’ll end up paying a higher interest rate than you need to, so This will always be a higher interest rate than others on the market, so it’s usually a good time to look into remortgaging.
We will start researching your remortgage options up to 3 months before your deal comes to an end, meaning we should have a new mortgage offer in place ready to start when your current deal finishes.
This is also a great time to consider staircasing (see the next explainer). If you have any questions about remortgaging we’re always happy to help.