Answers · UK 2025/26

What happens when my fixed-rate mortgage deal ends?

You automatically move onto your lender's standard variable rate (SVR), which is usually much higher. To avoid a payment jump, remortgage or take a product transfer before the fix ends - rate switches can typically be arranged up to about 6 months ahead.

Last updated: 10 June 2026Last reviewed: 10 June 2026How we verify

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When a fixed-rate deal expires, your lender moves you onto its standard variable rate (SVR), a rate it sets itself that often sits several percentage points above the best deals and can change at any time. On a GBP 200,000 mortgage over a remaining 25 years, jumping from a 4.5% fix (about GBP 1,112 a month) to a 7.5% SVR (about GBP 1,478) adds roughly GBP 366 a month, or GBP 4,392 a year - so doing nothing is usually the most expensive option. You have two main alternatives. A product transfer keeps you with the same lender on a new deal; it is quick, usually needs no new affordability check or valuation, but you only see that lender's range. A remortgage moves you to a new lender, which can secure a better rate but involves a fresh affordability assessment, a property valuation and legal work, and sometimes fees. Most lenders let you lock in a new rate up to about six months before your current deal ends, so the new rate starts the day the old one finishes with no gap on the SVR. When comparing, look at the total cost over the deal including any product fee, not just the headline rate, and check early repayment charges if you might move soon. If your circumstances have changed - lower income, a new credit issue - a product transfer may be easier to secure than a full remortgage. Use the remortgage calculator to compare total costs and the mortgage calculator to test new payments. See gov.uk and MoneyHelper for impartial guidance.