A huge number of UK homeowners will be looking to remortgage in 2025 – 26, and for many, it has been a long time coming. During the pandemic, countless borrowers snapped up those incredibly low fixed-rate deals. Now, as those offers begin to expire, people are suddenly facing the reality of today’s higher rates – something we have all felt since the Bank of England base rate jumped sharply between 2021 and 2023.
The good news is that the next couple of years could finally bring a bit of relief. As fixed terms come to an end, millions of British households will be deciding what to do next: move to a new deal, sit tight on a more expensive variable rate, or release some equity to free up cash for other goals. It is a moment with real potential to manage costs, but it also comes with decisions that should not be rushed.
In this guide, we walk you through what is happening in the remortgaging market right now, why rates may be looking more attractive, and how simple tools – like a refinance mortgage calculator or an affordability checker – can make the whole process feel far less intimidating.
We will also look at how working with an experienced mortgage broker can bring more personalised options to the table, especially if you are navigating competitive and expensive areas such as London.
Why 2025 – 26 Could Be a Turning Point for UK Remortgaging
For the first time in a few years, the numbers are starting to move in borrowers’ favour. A record volume of fixed-rate deals is expiring just as rates begin to settle, which means a large share of UK homeowners will face a remortgage decision at roughly the same moment – and many could come out of it paying less than they are now.
The Scale and Timing of the Remortgaging Wave
UK Finance and major lenders such as Lloyds forecasted a significant shift in 2025, with almost 1.8 million fixed-rate mortgages coming to an end. It is one of the biggest remortgaging waves the UK has seen in years, and it is expected to drive £70 – 75 billion worth of remortgage activity this year alone.
A huge portion of these British homeowners locked in those ultra-low pandemic rates during 2020 – 21, following the record low mortgage rates that came after the COVID pandemic. Now that those deals are expiring – and with the base rate having normalised – borrowers are being pushed into a decision point. If you do not secure a new deal, your mortgage lender will automatically move you onto their Standard Variable Rate (SVR), which typically sits somewhere between 7% and 8%, depending on who you are with. For most households, that jump is far too expensive to ignore.
The encouraging news is that mortgage rates have started to stabilise. Borrowers with strong credit profiles and sensible loan-to-value ratios can now access 2- and 5-year fixes in the low- to mid-4% range, with some of the most creditworthy applicants seeing five-year fixes nearer 4%. For many, that offers a real opportunity to bring monthly repayments back down after a couple of turbulent years.
In short, 2025 is shaping up to be a significant moment for homeowners to take back control of their costs – so long as they plan ahead and do not slide onto an SVR by default.
How Lower Rates Can Boost Affordability
With the cost of living still stretching household budgets, a lower monthly mortgage payment can make a real difference. This is where remortgaging earns its keep: moving off an expired fix or a high SVR onto a competitive rate can free up money that was quietly disappearing every month.
The numbers make the point. Take a £300,000 mortgage over 25 years. At 7.5% the repayment lands at roughly £2,100 a month. Move that to a 4% fix and it drops to around £1,580 – a difference of about £520 a month, or more than £6,000 over a year. That is money that can go back into the household budget, towards savings, or against other borrowing.
An affordability calculator is a sensible starting point. Enter your income, outgoings and current mortgage details, and it gives you a realistic picture of what you could move to before you speak to anyone.
London-Specific Dynamics
Property prices and loan amounts in London sit well above the UK average, so even a modest reduction in rate can translate into meaningful monthly savings. On loans above £500,000, that can run to thousands of pounds a year. But mortgages in London bring their own complications – stricter lending criteria, more involved stamp duty rules, and tighter affordability checks.
This is where an experienced broker tends to add the most value. Brokers can also access broker-only rates that are not advertised directly to the public, which can widen the options available to London homeowners with larger or more complex loans.
The Rise of Product Transfers
It is not only full remortgages that are climbing – product transfers are too. A product transfer means staying with your current lender and simply switching to one of their newer deals. Because there is usually no new valuation, no full application and often no fresh credit check, it is a quicker, lighter route off a high SVR and onto a fixed rate. It will not always be the strongest option on the table, but for many borrowers it is worth comparing against a full remortgage before deciding.
Conclusion
The remortgaging wave of 2025 – 26 gives homeowners a real opportunity to move onto more competitive rates and bring their monthly costs back under control. With around 1.8 million fixed-rate mortgages ending and new deals becoming available, it is a sensible time to review where you stand.
A monthly mortgage calculator and an affordability calculator are good ways to see what is realistic before you commit to anything. Beyond that, an FCA-regulated mortgage broker can help you weigh up deals suited to your circumstances, which matters most in a market like London. Rates can move in either direction, so taking advice early is one of the more reliable ways to land a deal that fits.
Frequently Asked Questions
When should I start looking at remortgaging before my fixed rate ends?
Most lenders let you lock in a new deal up to six months ahead. Starting early gives you time to compare options and avoids slipping onto an expensive Standard Variable Rate if your current fix expires before a new one is in place.
What happens if I do nothing when my fixed-rate deal expires?
Your lender moves you onto their Standard Variable Rate, typically between 7% and 8%. For most households that is far higher than a new fixed deal, so reviewing your options before expiry usually makes sense.
Is a product transfer better than a full remortgage?
It depends on your circumstances. A product transfer is quicker and lighter on paperwork, but a full remortgage may open up more competitive rates from other lenders. Comparing both before deciding is worthwhile.
Can I remortgage to release equity from my home?
Yes, many homeowners remortgage to release some of the equity they have built up. The funds can go towards home improvements, debt consolidation or other goals, subject to affordability and your lender’s criteria.
How can a mortgage broker help with my remortgage?
A broker reviews the wider market and matches your situation to suitable lenders. This can be particularly useful for larger or more complex loans, including those in competitive areas such as London.
Final Thoughts
UK Mortgage Broker is a whole-of-market broker helping clients throughout the UK and globally to secure funding on UK property. We are directly authorised and regulated by the Financial Conduct Authority. Your home may be repossessed if you do not keep up repayments on your mortgage.
Call: +44 1628 969 500
Email: info@uk-mortgagebroker.co.uk
Related Pages
Tracker Mortgages UK – How tracker deals work and when a variable rate can be worth considering over a new fix.
Mortgage Rates UK – What borrowers are actually paying in 2026 and how current rates compare across fixed and variable deals.
Mortgage Affordability UK – How lenders assess what you can borrow, and what that means when you come to remortgage.
Offset Mortgages UK – Whether linking your savings to your mortgage could reduce the interest you pay after you switch.
Why Mortgages Get Declined – Common reasons a remortgage application can fall down, and how to avoid them before you apply.