When Should You Start Looking at a Remortgage?

Find the dates that matter

• When your initial rate ends and what rate may apply afterwards.
• When an early repayment charge reduces or ends—not necessarily the same day as a statement date.
• When a new lender's offer expires and what it requires for completion.
• When your existing lender makes product-transfer options available.

Prepare while you compare

Gather a recent statement, income information, details of commitments and property information. Ask for an up-to-date redemption figure when needed. Changes such as self-employment, parental leave or additional borrowing can require more preparation.

A lender switch can involve valuation and legal work. Leasehold or ownership issues can add complexity. A same-lender product transfer may be simpler, but rules and checks still depend on the transaction.

A reservation window is lender-specific

Some lenders allow you to arrange a future-starting deal in advance. Do not assume a universal 180-day entitlement. Product availability, offer expiry and any repricing options depend on the lender's terms.

A rate change before completion does not automatically amend an accepted product. Ask whether changes are permitted, what deadlines apply and whether a new application or fee is involved.

Compare the cost of early completion

An attractive new rate might not offset an early repayment charge. Compare the costs over an equivalent period, including any time on the existing or reversion rate, before deciding to complete early.

If you are already on a variable rate, there may still be product conditions or exit costs to check. If your mortgage is close to its final maturity date, that is a different issue from the end of an initial fixed-rate deal; discuss the remaining capital and repayment plan promptly.