What is a Standard Variable Rate (SVR) mortgage?

SVR is your lender's default rate, typically 1-3% higher than fixed deals. You automatically move to SVR when your fixed rate ends. It can change at any time at the lender's discretion, making your payments unpredictable.

Can I remortgage early before my fixed rate ends?

Yes, but you may face Early Repayment Charges (ERCs), typically 1-5% of your balance. Calculate whether savings from a new deal outweigh the ERC. In some cases, paying the ERC is worthwhile if rates have risen significantly.

How long does it take to remortgage?

Remortgaging typically takes 4-8 weeks from application to completion. Starting 3-6 months early gives you time to compare deals, apply, and complete before your current deal ends, avoiding the expensive SVR.

Should I remortgage with my current lender?

Not necessarily. While staying with your lender is simpler (no legal fees or valuation needed), you may get better rates elsewhere. Always compare deals across the market before deciding - a broker can help with this.

Quick Answer

When is the best time to remortgage?

Last reviewed: December 2025

Reviewed by Jay Sabine – CeMAP Qualified – 29 years experience

Start looking for a new deal 3-6 months before your current fixed rate ends. Most lenders lock rates for 3-6 months, so you can secure a rate early while your current deal is still active.

The best time to remortgage is typically 3-6 months before your current deal expires. This timing lets you secure a new rate while avoiding your lender's expensive Standard Variable Rate (SVR), which is usually 1-3% higher than fixed deals. Most lenders now offer 'rate locks' allowing you to apply early and hold the rate until completion. Starting early also gives you time to compare deals, gather documents, and ensure a smooth transition without any gap on the expensive SVR.

Key Points

1Begin searching 3-6 months before your fix ends
2Most lenders offer rate locks for 3-6 months
3SVR is typically 1-3% higher than fixed rates
4Consider total costs including fees when comparing
5A broker can help find the best deals across lenders

Next Steps

1Check when your current deal ends
2Start comparing rates 6 months before
3Speak to a mortgage adviser for options
4Gather payslips and bank statements
5Apply and lock in your new rate

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When is the best time to remortgage?

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