Is your mortgage deal ending this year or in early 2027? Why reviewing early could save you money

If your mortgage deal ending is later this year, or in early January 2027, now could be the time to start looking at your options.

For many homeowners, the mortgage is the largest monthly bill they pay. Yet it is also one of the financial products most likely to be left until the last minute.

That can be costly.

When a fixed, tracker or discounted mortgage deal ends, borrowers are usually moved onto their lender’s standard variable rate, often known as the SVR. This can be significantly higher than the rate they were paying before, which means monthly repayments can rise sharply if no action is taken¹.

In 2026, this matters because mortgage rates remain much higher than many homeowners became used to during the ultra-low-rate years. Household budgets are still under pressure, and even a relatively small difference in rate can make a noticeable difference to monthly payments.

That does not mean everyone should rush into a new deal immediately. But it does mean homeowners should understand their options early, rather than waiting until their current rate is about to end.

Speaking to your mortgage broker or adviser early can help you understand what may be available, what your current lender can offer and whether it may be worth comparing the wider market.

Why starting early matters when mortgage deal ending.

One of the biggest mistakes borrowers make is waiting until their mortgage deal has already finished before looking for a new one.

By that point, they may have moved onto their lender’s SVR. That can mean paying more each month while trying to arrange a new deal.

It is usually sensible to start reviewing your options around three to six months before your current deal ends. Many lenders allow borrowers to secure a new rate in advance, which means you may be able to line up your next mortgage before your current deal finishes¹.

That gives you time to compare options properly, gather paperwork and avoid making a rushed decision close to the deadline.

It can also give you some flexibility. If rates rise, having a deal arranged may provide reassurance. If rates fall before the new deal starts, your broker or adviser may be able to review the market again and check whether a more suitable option is available.

The key point is simple. Timing matters, especially when your mortgage deal ending

Do not assume staying with your current lender is best

Remortgaging does not always mean moving to a new lender.

Your current lender may offer you a new deal, known as a product transfer or product switch. This can sometimes be quicker and simpler than moving elsewhere because there may be less paperwork, fewer checks and lower legal or valuation costs¹.

In some cases, product transfer rates can also be competitive.

But that does not mean you should automatically accept the first offer from your current lender. It should be treated as a benchmark.

Once you know what your existing lender is prepared to offer, your mortgage broker or adviser can help compare it with deals available elsewhere. The right option will depend on the rate, fees, your loan size, your circumstances and how much certainty or flexibility you want.

A slightly lower rate elsewhere may look attractive, but the overall cost still needs to be compared carefully.

Look beyond the headline rate when your mortgage deal ending

When comparing mortgage deals, it is easy to focus on the interest rate.

But the lowest rate is not always the cheapest deal overall.

Arrangement fees can make a significant difference. Some mortgage deals come with fees of around £1,000 or more. Others may have lower or no fees but a slightly higher interest rate¹.

For borrowers with smaller mortgages, a high fee can sometimes wipe out the benefit of a lower rate. For borrowers with larger mortgages, the lower rate may still make sense.

That is why the total cost matters.

A proper comparison should include the monthly payment, arrangement fee, valuation fee, legal costs, exit fees and any early repayment charges. It should also look at the cost over the initial deal period, not just the first month.

Your mortgage broker or adviser can help compare deals on this basis, rather than simply looking at which rate appears cheapest at first glance.

Check your early repayment charge

Before moving to a new mortgage deal, you need to check whether your current mortgage has an early repayment charge.

Many fixed-rate mortgages include charges if you leave before the deal ends. These charges can run into thousands of pounds, depending on the size of your mortgage and the terms of your deal¹.

That does not always mean moving early is the wrong decision, but the cost needs to be factored into the calculation.

You should know when your current deal ends, whether an early repayment charge applies, how much the charge would be, the date the charge stops applying and whether any exit or administration fees apply.

The aim is to avoid accidentally triggering a charge that could have been avoided by timing the new mortgage correctly. Your broker or adviser can help you review these details before you make a decision.

Know your loan-to-value

Your loan-to-value, often called LTV, is the percentage of your property’s value that is covered by your mortgage¹.

For example, if your home is worth £300,000 and your mortgage is £210,000, your LTV is 70%.

This matters because lenders usually offer better rates to borrowers with more equity in their home. Someone borrowing 60% of their property’s value will often have access to more competitive rates than someone borrowing 90%.

Before reviewing your mortgage, it is worth getting a realistic idea of your property’s current value and checking how much you still owe.

If you are close to a lower LTV band, even a small overpayment or a slightly higher property valuation could improve the range of deals available to you.

However, property values can move in both directions. If your home is valued lower than expected, your LTV could be higher than you thought, which may affect the products you can access.

This is another reason to start early and speak to your mortgage broker or adviser before your current deal ends.

Think carefully before borrowing more

Some homeowners use a remortgage to borrow additional money. This might be for home improvements, debt consolidation or another major expense.

There are times when this can make sense, but it should never be treated as an automatic decision.

Adding borrowing to your mortgage may reduce the interest rate compared with a credit card or personal loan, but it can also mean paying the debt back over a much longer period. That can increase the total amount of interest paid.

A lower rate over 20 or 25 years can sometimes cost more overall than a higher-rate loan repaid over a much shorter period.

There are also risks. A mortgage is secured against your home, so increasing the debt secured on the property should be considered carefully.

If you are thinking about consolidating debts or borrowing more, it is important to speak to your mortgage broker or adviser and understand the full long-term cost.

Fixed or variable: what matters most to you?

One of the biggest decisions when reviewing your mortgage is whether to choose a fixed or variable rate.

A fixed-rate mortgage gives certainty. Your monthly payment stays the same for the length of the deal, which can make budgeting easier. This can be particularly valuable if your finances are already stretched or you would struggle if payments increased.

A variable or tracker deal may be attractive if you think rates could fall, but payments can move up as well as down. That means you need to be comfortable with uncertainty.

There is no single right answer.

The best choice depends on your attitude to risk, your household budget, your future plans and whether you value certainty more than flexibility.

The question is not simply which rate is cheapest today. It is which deal is suitable for the way you live, earn and manage your money. Your broker or adviser can help talk through the options and explain the potential benefits and risks of each route.

Get your paperwork ready

Even if you already have a mortgage, a new lender will still want to assess whether you can afford the new deal.

That means checking your income, spending, credit history and wider financial position.

If you have recently changed jobs, become self-employed, taken on more debt, missed payments or increased regular commitments, this could affect your options.

Before applying, it is worth checking your credit file, making sure you are on the electoral roll, reviewing bank statements and avoiding unnecessary new credit applications.

Lenders may ask for payslips, bank statements, proof of bonuses or commission, and tax information if you are self-employed.

If something unusual appears on your bank statements, be prepared to explain it. A regular payment to a family member, use of an overdraft or recent large transaction may raise questions during the application.

Your mortgage broker or adviser can help you understand what documents may be needed and whether there is anything that could affect your application.

Does your mortgage still fit your life?

A mortgage that suited you two or five years ago may not be the right fit today.

Your income may have changed. You may have had children. You may now work from home. You may want to overpay. You may be planning to move. You may need more payment certainty, or you may want greater flexibility.

For some borrowers, the priority will be the lowest possible monthly payment. For others, it may be paying the mortgage down faster, reducing the term, protecting against future rate rises or avoiding large fees.

You should also think about whether your mortgage term still makes sense.

Extending the term can reduce monthly payments, but it usually means paying more interest over the life of the loan. Shortening the term can save interest, but only if the higher payments are affordable.

These decisions should be made with the full picture in mind, and a conversation with your mortgage broker or adviser can help you understand the possible trade-offs.

The bottom line

If your mortgage deal ends later this year, or in early January 2027, do not leave it until the last minute.

Start by checking when your current deal ends, whether early repayment charges apply, how much you owe, what your home may be worth and what your current lender is prepared to offer.

Then compare the wider market, including fees and product features, not just the headline rate.

For many homeowners, the right mortgage decision could make a meaningful difference to monthly payments and long-term costs.

If your current deal is ending soon, or you are unsure whether your mortgage still suits your circumstances, speak to your mortgage broker or adviser early. They can help you review your current deal, compare your options and understand what may be suitable for your circumstances before you need to make a decision.

Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.

For more information, go to Mortgage – The Finance House

References:

1. MoneyHelper. (2026). Remortgaging to get the best deal | MoneyHelper. [online] Available at: https://www.moneyhelper.org.uk/en/homes/buying-a-home/remortgaging-to-cut-costs [Accessed 26 May 2026].

There may be a fee for mortgage advice. The precise amount of the fee will depend on your circumstances.

Think carefully before securing other debts against your home/property.

All the information in this article is correct as of the publish date 28^th May 2026. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HLPartnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

Selling your home this summer? Five things sellers need to know as buyers get more choice

If you are thinking about selling your home this summer, the market may look encouraging at first glance.

Asking prices have been holding up, homes are still selling, and many buyers remain active. But look a little closer and the picture becomes more complicated.

Rightmove’s May 2026 House Price Index reported that the average price of property coming to market rose by 1.2% in May to £378,304. Sales agreed were 4% lower than the same period last year, suggesting that activity has not disappeared¹.

However, sellers should not confuse a steady market with an easy one.

Rightmove also reported that buyers now have the widest choice of homes for sale at this time of year since 2015, while around 32% of homes on the market have had a price reduction¹.

That matters because buyers with more choice can afford to be more selective. They may compare similar homes more carefully, question asking prices more closely and take longer before making an offer.

For sellers, this does not mean panic. But it does mean preparation.

If you want to sell this summer, here are five things worth knowing before your property goes on the market.

1. More choice means buyers can be more selective

In a market where buyers have fewer homes to choose from, they often move quickly and may be willing to compromise.

When there are more properties available, the balance changes.

Buyers can compare similar homes in the same area. They can look at price, condition, garden size, parking, energy performance, local schools, transport links and how much work the property needs.

A buyer may still love your home, but they will also be asking whether it represents the best value compared with everything else they have seen.

That is why sellers need to think beyond simply listing the property and waiting for interest.

Presentation, price and timing all matter. A well-presented home at a realistic price is more likely to attract serious buyers than one that relies on hope and an ambitious asking figure.

2. Pricing too high can cost you early interest

The first few weeks after a property is listed are often the most important.

This is when your home is fresh on the property portals, when buyer alerts are sent out, and when estate agents are likely to have registered applicants ready to view.

If the asking price is too high during that early window, serious buyers may scroll past it.

Some sellers assume they can start high and reduce later if needed. That can work in some cases, but it can also create problems. By the time the price is reduced, the listing may already feel stale. Buyers may wonder why it has not sold. Some may see the reduction as a reason to negotiate even harder.

A realistic asking price does not mean underselling your home. It means looking at the market as it is today.

Ask your estate agent about recent agreed sales, not just advertised prices. Look at how long similar homes nearby have been on the market. Check whether comparable properties have already reduced their asking price.

The question is not only what your home is worth to you. It is what a proceedable buyer is likely to pay in the current market.

3. Presentation matters when buyers have alternatives

Buyers are not just comparing prices. They are comparing how homes feel.

A cluttered hallway, tired bathroom, scuffed walls or overgrown garden may not stop someone buying on its own. But it can create hesitation, and hesitation can lead to lower offers.

Before your home is photographed, walk through it as if you are viewing it for the first time.

Clear kitchen worktops. Tidy shoes, coats and bags from the hallway. Remove bulky furniture that makes rooms feel smaller. Touch up marked walls. Replace broken lightbulbs. Fix loose handles. Clean grout and reseal around the bath or shower if needed.

The outside of the property matters too. The front door, driveway, path and garden all contribute to the first impression.

Late spring and early summer can work in a seller’s favour because homes often look brighter and gardens can look their best. Make the most of that. Clean windows, open curtains and blinds, cut the grass, sweep the patio and create a simple outdoor seating area if you can.

Buyers should be able to imagine themselves living there, not mentally listing the jobs they would need to do.

4. Summer can help, but timing still matters

The end of May and early June can be a useful time to go to market.

Homes are often lighter, gardens are more appealing, and some families may be thinking ahead to a move before the next school year.

But sellers should also be realistic about the summer timetable.

As the main holiday season approaches, viewings can become harder to coordinate. Buyers go away. Sellers go away. Solicitors, surveyors and estate agents may have staff on leave. Even motivated people can become harder to pin down.

That does not mean you should rush into selling before you are ready. But if you are serious about moving this year, it is sensible to get organised before the summer holiday season is fully under way.

Gather key paperwork. Speak to your estate agent about the best launch date. Prepare your home before photographs are taken. Understand your onward plans.

A good property can still sell in summer, but a prepared seller is in a stronger position than one who is trying to make decisions under pressure.

5. Know your mortgage position before you accept an offer

Selling your home is not just about finding a buyer. It is also about understanding what happens next.

If you have a mortgage, you should check whether there are early repayment charges, whether your existing mortgage can be moved to a new property, and what your borrowing options may look like if you are buying again.

This is particularly important while mortgage affordability remains a key factor for buyers and sellers.

Rightmove’s May 2026 House Price Index reported that the average two-year fixed mortgage rate had fallen to 5.18%, down from 5.42% the previous month¹. That may offer some encouragement, but mortgage rates remain much higher than many borrowers were used to during the ultra-low-rate years.

Your next move may depend not just on the price you sell for, but on what you can borrow, what your monthly payments could be, and whether your current mortgage creates any restrictions.

A mortgage broker can help you understand your options before you accept an offer or commit to your next purchase.

That can include looking at affordability, potential monthly payments, product transfer options, remortgaging, porting an existing mortgage and any early repayment charges that may apply.

Having this information early can help you make more confident decisions and reduce the risk of delays once a buyer is found.

What should sellers do now?

This is not a market for panic. Homes are still selling, and many buyers remain active.

But it is not a market for guesswork either.

If you are thinking of selling this summer, it is worth taking a few practical steps before going live.

Speak to more than one local estate agent. Compare recent sold prices, not just asking prices. Ask how many similar homes are currently for sale. Prepare your home properly for photographs and viewings. Be realistic about what a reasonable offer may look like.

And if you are planning to buy another property, speak to a mortgage broker before you go too far down the road.

The better prepared you are, the more control you are likely to have.

The bottom line

The 2026 housing market is more nuanced than the headline figures suggest.

Prices have been holding up, but buyers have more choice. Homes are still selling, but sellers need to work harder to stand out. A high asking price may attract attention, but it will not guarantee a sale if buyers do not see value.

For anyone hoping to sell this summer, the message is simple. Price carefully, present well, understand your mortgage position and be ready to move when the right buyer comes along.

If you are thinking about selling and buying again, speaking to a mortgage broker early can help you understand your options before making your next move.

Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.

For more information go to: Mortgage – The Finance House

References: 

1. Rightmove. (2026) House Price Index: Monday 18th May 2026. [online] Available at: https://www.rightmove.co.uk/news/content/uploads/2026/05/Rightmove-HPI-18-May-FINAL.pdf[Accessed 26 May 2026].

There may be a fee for mortgage advice. The precise amount of the fee will depend on your circumstances.

All the information in this article is correct as of the publish date 28^th May 2026. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HLPartnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.