Remortgage

Remortgaging Explained: How To Get The Best Deal In 2026

If your current deal ends in 2026, you are not alone in wondering whether to lock in a new rate or sit tight. With rates, lender criteria, and fees shifting, the right answer depends on your goals, your timeline, and how your current lender compares to the wider market. This guide cuts through the noise so you can make a confident decision about remortgaging this year.

What does it mean to remortgage?

Remortgaging is the process of switching your existing mortgage to a new deal, either with your current lender or a different one. You might do this to reduce your monthly payments, fix your rate for peace of mind, change your term, borrow more for home improvements, or consolidate debt. If you stay with your current lender on a new product it is often called a product transfer. If you change lender you complete a new application and legal work, although the process is usually simpler than a purchase because there is no chain.

Common reasons to remortgage include:

• Your fixed or tracker deal is ending and you want to avoid moving onto the lender’s Standard Variable Rate.
• You want payment stability with a new fixed rate.
• Your income or circumstances have changed and you want to adjust your term or repayment type.
• You need to release equity for improvements or other planned spending.
• Your property value has increased and you may now qualify for a lower loan to value tier.

Be aware of early repayment charges if you are still inside your current fixed term. A broker can check whether it is worth securing a new deal now, with completion set for when your penalty ends.

Is remortgaging a good idea in 2026?

It can be, but it depends on the numbers. Remortgaging is usually worth exploring three to six months before your deal ends. This gives time to secure a rate while you compare options, and in many cases you can lock a product and still switch again if something better appears before completion. Lenders often allow offers to remain valid for several months, which is useful if markets are moving.

Good reasons to remortgage in 2026:

• You are close to the end of a deal and the reversion rate is meaningfully higher than available alternatives.
• Your loan to value has improved and you can step down to a cheaper pricing band.
• You want certainty through a fixed term during a period of household budget pressure.
• You want to consolidate expensive unsecured borrowing into your mortgage, provided you understand the longer repayment period and total interest cost.

Reasons you might wait or choose a product transfer:

• You have a change of circumstances that could affect affordability in the short term, and a simple transfer avoids new underwriting.
• Your current lender offers a competitive retention deal with low fees and minimal admin.

A clear cost comparison, including product fees, valuation and legal costs, is essential. A whole of market view and professional advice helps you see whether a transfer or a full remortgage offers better value.

Will mortgage rates go down in 2026 in the UK?

Looking into 2026, forecasts suggest inflation is easing and base rate cuts are possible, but there is no guarantee of steady reductions in mortgage pricing. Lenders price fixed rates based on market expectations for future interest rates, plus their own funding costs and risk appetite. Prices can move quickly after economic data releases, central bank meetings, or shifts in swap rates.

What this means for you:

• If a competitive rate meets your budget today, securing it can remove uncertainty.
• If you are several months from the end of your deal, you can often secure a rate now and review again before completion.
• If you are comfortable with payment fluctuation and think rates may fall, a shorter fixed term or a tracker with no early repayment charge could be considered, subject to your risk tolerance.

No one can promise lower rates by a certain date, so plan around affordability and stability first, then fine tune based on market conditions.

How does remortgaging affect your credit?

A remortgage with a new lender involves a hard credit check at application stage. Multiple credit applications in a short period can leave footprints, although a well managed process limits this. Your credit score can dip briefly after an application, then recover with on time payments. If you stay with your existing lender through a product transfer, some lenders will not run a new hard check or will complete a lighter assessment.

To prepare:

• Check your credit files across the main agencies for errors and update your addresses.
• Keep credit card balances low relative to limits in the months before applying.
• Make all payments on time and avoid taking new credit unless essential.

If you have missed payments or complex credit history there are still options with specialist lenders. A broker can present your case to suitable lenders and avoid unnecessary declines.

Should you use a broker to remortgage?

You can remortgage directly with a lender, but many homeowners choose a broker for a wider market view, tailored advice, and end to end management. A broker can:

• Review your current deal, fees, and timing to avoid early repayment charges where possible.
• Source options across high street and specialist lenders, including products not always available direct.
• Run costed comparisons that include fees, valuation incentives, term changes, and overpayment features.
• Manage the application, liaise with solicitors, and keep the process on track on your behalf.

If you value impartial guidance and time saved, speaking with a trusted and reputable mortgage broker can help you avoid costly missteps and secure a suitable deal.

The remortgage process, step by step

• Six months out: check your end date, request a redemption statement, and gather documents, such as payslips, accounts, and ID.
• Three to four months out: obtain a full market comparison, choose a product, and agree a strategy for timing.
• Application: submit documents, complete affordability checks, and arrange a valuation if required.
• Offer and legals: review your mortgage offer; the solicitor handles conveyancing requirements for the remortgage.
• Completion: your new lender repays the old mortgage and you begin payments on the new deal.

If you prefer to keep your options open while markets move, some lenders will let you book a product and switch to a better one later within the same range, subject to terms.

Tips to get the best deal in 2026

• Know your loan to value. A new valuation can sometimes move you into a cheaper band.
• Factor in fees, not just the headline rate. A slightly higher rate with low or no fee can be cheaper over your chosen term – allowing a professional advisor to do this calculation for you is often a good idea.
• Decide how long you want certainty. Two year and five year fixes are common; a longer fix can protect against rises, while a shorter fix may let you benefit sooner if rates fall.
• Check overpayment allowances. Many deals allow up to 10 percent per year, which can reduce total interest.
• Consider portability and early repayment charges if you might move home.

When to speak to an expert

If you are within six months of your deal ending, if your situation has changed, or if you want to borrow more, get advice early. A whole of market adviser can weigh up a product transfer against a full remortgage, highlight any early repayment charges, and coordinate with solicitors so completion lands on the right day. If you want tailored guidance with minimal hassle, our team provides clear, personal support from first conversation through to completion.

For personalised guidance and a market wide comparison, our team is here to help you find practical mortgage solutions that fit your budget and plans for the year ahead.

Key takeaways

• Remortgaging means switching your current mortgage to a new deal for a better rate, stability, flexibility, or to release equity.
• Whether it is a good idea in 2026 depends on your end date, fees, loan to value, and appetite for certainty; run the numbers early.
• Rates may ease as inflation falls, but nothing is guaranteed, so base decisions on affordability and risk tolerance.
• Your credit can be checked during a remortgage; prepare your files and manage balances to improve your case.
• A broker can compare the market, manage timing and paperwork, and help you secure a suitable deal with fewer headaches.

Your home may be repossessed if you do not keep up repayments on your mortgage or any loan secured against it. You may have to pay an early repayment charge if you remortgage early. Not all Buy to Let mortgages are regulated by the Financial Conduct Authority. AP Mortgage Solutions Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, authorised and regulated by the Financial Conduct Authority, FCA number 776689.