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There is no single right time to remortgage, but the most common trigger is a current deal coming to an end, since many lenders allow you to arrange a new one a few months in advance, often 3 to 6 months ahead depending on the lender. Beyond that, changes in your circumstances, your credit history or your loan to value (LTV) can also be good reasons to look again at your mortgage.
When your current deal is ending
This is the most common reason people remortgage. When a fixed or tracker deal ends, the mortgage usually moves to the lender’s standard variable rate (SVR), which is usually higher. Many lenders let you lock in a new deal, either with them as a product transfer or elsewhere, ahead of that date.
| Time before your deal ends | What is often possible |
|---|---|
| 6 months or more | Some lenders allow early applications; worth checking your own lender’s window |
| 3 to 6 months | Many lenders’ typical window for arranging a new deal without moving to SVR |
| Under 1 month | Still possible, but less time to compare deals; risk of moving to SVR briefly |
| Already on SVR | You can still remortgage; worth acting promptly to reduce time on SVR |
Check your mortgage offer or annual statement for your deal end date, and ask your lender when their process opens for a new deal or product transfer.
When your circumstances change
Life changes can also be a reason to remortgage even if your current deal has time left, subject to any early repayment charge that may apply. Common examples include:
- Wanting to borrow more, for example for home improvements, or to release equity for another purpose.
- A relationship change, such as a separation or divorce, which may involve removing or adding a name to the mortgage.
- Wanting to consolidate other debts, though this means those debts become secured on your home, so it is worth reading about debt consolidation remortgages carefully first.
- A change in employment, such as becoming self-employed, which can affect how a lender assesses your income.
Our guide on remortgaging early explains what to check, including any early repayment charge, before switching before your deal ends.
When your credit history or LTV has improved
If your credit history has improved since you last applied, for example a CCJ or default has become older or been settled, or you have had a clean record for some time, it may be worth reviewing your options even if you were declined or offered limited choices before. Most negative entries stay on a credit file for 6 years, and older, settled issues often carry less weight with lenders than recent ones, although every lender sets its own criteria.
A falling loan to value can also open up more choices. As you pay down your mortgage or if property values in your area rise, you may move into a lower LTV band. Our guide on how LTV affects a bad credit remortgage explains why this matters.
How to plan ahead
A few habits can make it easier to pick the right time to remortgage rather than reacting at the last minute:
- Put a reminder in your diary for a few months before your deal end date, so you have time to compare options rather than rushing.
- Review your credit file once a year, even if you are not planning to remortgage soon, so you are not caught out by an entry you had forgotten about.
- Keep an eye on your loan to value, particularly if you make overpayments or if property prices in your area have moved.
- Note any life changes that might affect affordability, such as a change in income or a new financial commitment, since these can affect what a lender is willing to offer.
When it might be worth waiting
Remortgaging is not always the immediate priority. It may be worth waiting, or looking at alternatives, if:
- You are close to the end of a period after which an entry drops off your credit file, and can afford to wait.
- An early repayment charge on your current deal would outweigh the benefit of switching now.
- You are in the middle of resolving a debt problem and want stability before taking on a new commitment.
A product transfer with your existing lender, or speaking to your current lender about your options, can sometimes bridge the gap without committing to a full remortgage straight away.
What this means if you have adverse credit
If you have a CCJ, default, missed payments, mortgage arrears or another form of adverse credit, timing can matter more, but it is not only about waiting for entries to age off your file. Some lenders specialise in adverse credit and consider applications well before the 6-year mark, so it is worth checking your options rather than assuming you must wait. Checking your statutory credit report from Experian, Equifax and TransUnion first helps you understand exactly what a lender will see and when key dates fall.
If your deal is ending soon and you are unsure what is available, a specialist adviser can help you compare a product transfer against a move to a new lender. If you are struggling with debts or arrears, speak to your current lender early and consider free, impartial advice from MoneyHelper, StepChange or National Debtline before deciding when to remortgage.
Frequently asked questions
How many months before my deal ends should I start?
Many lenders allow you to arrange a new deal a few months ahead, often 3 to 6 months before your current one ends, depending on the lender. Starting within that window is common, though checking your own mortgage documents or asking your lender confirms the exact timing that applies to you.
What happens if I do not remortgage in time?
If your deal ends and you have not arranged a new one, your mortgage usually moves onto your lender's standard variable rate (SVR), which is usually higher. You can still remortgage after this point, but you may pay more in the meantime, so many people aim to have a new deal ready before their current one finishes.
Is it worth remortgaging if my credit has recently improved?
It can be worth exploring, since older or settled adverse credit often carries less weight with lenders than recent issues. Whether it changes what is available to you depends on the lender and the specifics of your file, so checking your credit report and speaking to an adviser is a sensible first step.
Should I wait for my adverse credit to drop off my file before remortgaging?
Not necessarily. Some lenders specialise in adverse credit and consider applications before entries have fully dropped off after 6 years. Waiting is one option, but it is not the only one, and a product transfer or specialist lender may be available sooner, depending on your circumstances.