How soon can you remortgage before your fixed rate ends?
Six months. That is the window most lenders give you to lock in a new offer and ride the market with the safety net on.
Most lenders let you secure a remortgage offer up to six months before your existing rate ends. You hold the offer, you keep watching the market, and if rates fall before your switch date a good broker can swap you onto the cheaper product without penalty. If rates rise, you are protected. There is almost no scenario where starting early costs you more, and several where it saves you serious money. The trick is knowing the rules of the lender you are switching to. You may incur additional costs if changing lenders.
Who this is for
- You are within 3 to 6 months of your existing rate ending and want to act.
- You want to lock in a rate now in case the market moves against you.
- You are not sure whether starting early carries any risk.
- You have a portfolio of mortgages with different end dates and want them aligned.
Six months is the standard
Most mainstream lenders accept new applications and issue offers six months before the existing deal ends. Some are stricter at four months, a small number stretch to seven. We know which is which and we time the application accordingly. The completion date is the date your new product starts, not the date the offer is issued.
How "rate watching" works
Once your offer is issued, you have a binding deal at a known rate. If lender pricing improves before your completion date, we can usually re-broke onto a cheaper product, either with the same lender or a different one. If pricing worsens, you keep the original offer. The downside is small, the upside is the cost of a few weeks of broker effort.
Worked example on a 5-month timeline
Your fix ends 1 October. We start work on 1 May (5 months out). By 1 June we have an offer issued from Lender A at 4.45%. On 15 July, Lender B reprices and a comparable product is available at 4.25%. We re-broke. New offer from B issued 15 August, completes 1 October. The 0.20% improvement on a £250,000 mortgage saves roughly £500 a year, £2,500 across the five-year fix. Without the early start, you would have been stuck on whatever rate was available in the last three weeks before expiry.
What stops you starting early
An ERC (Early Repayment Charge) on your existing product means you cannot complete the new mortgage until your existing rate ends. That does not stop you applying early, it just sets the completion date. The application itself is the same.
Product transfer (PT) versus remortgage
If you stay with your existing lender on a product transfer (your current lender offers you a new rate without a full re-underwrite), the timeline shrinks. PT can complete in days. A full remortgage to a new lender takes six to ten weeks. We compare both before recommending a route.
What lenders re-check at remortgage
Affordability based on current income and outgoings, credit profile (so any defaults or new debt show up), employment status, age at end of new term, and property value via automated or physical valuation. The ICR (income calculation ratio) on residential is straightforward; the property value is where surprises happen if your area has dropped. We pre-flag risks before submitting so the application does not stall.
Common pitfalls we see
Applying at 7 months and finding the lender does not accept that lead time. Applying at 3 months and missing two months of cheaper market rates that came and went. Locking in early but failing to re-check the market in the run-up to completion. Forgetting that a 30-day notice clause sits between the broker confirming the new rate and completion actually happening. We mind all of this on your behalf.
How Major Money Matters helps
Specific things we do for this case type. No generic platitudes.
Set the application diary
We start six months before your switch date, not four weeks. Most cost-saving wins come from time, not negotiation.
Watch lender pricing daily
After your offer is issued, we keep watching the panel. If a cheaper product appears we re-broke. The clock stays on your side.
Time the completion to your ERC
We pin completion to the day your existing ERC drops to zero. Not a day earlier, not a week later. You pay nothing in penalties.
Align portfolio end dates
If you have multiple mortgages we line up rate-end dates so you only do this once a year, not once a quarter.
Frequently asked questions
Can I remortgage 12 months before my fixed rate ends?
No mainstream lender will issue an offer that far out. Six months is the realistic limit. You can prepare paperwork earlier, but the formal application sits inside the six-month window.
What if rates fall after I lock in a new product?
We can usually re-broke onto a cheaper product. The original offer acts as a floor. Lender fees and timing all matter, so it is worth checking in monthly until completion.
Is there a fee to apply early?
There can be a lender fee. We tell you the all-in cost up-front. The saving from starting early almost always outweighs the cost on a typical residential case.
What is the difference between an offer and completion?
The offer is the lender saying yes to your application. Completion is the day the new mortgage actually starts. They are usually weeks apart on a remortgage. Your switch date is the completion date.
Do I need a new survey for a remortgage?
Most lenders run an automated valuation. Some require a physical survey, especially on higher loan-to-values or unusual properties. We pre-flag this so there are no surprises.
Related
Closest siblings to this scenario. Worth a read.
When should you remortgage?
Six months out is the sweet spot. We hold the rate, watch the market, and switch when it pays.
Read moreProduct transfer vs remortgage: what's the difference?
PT is fast and easy. A remortgage usually wins on price. We compare both, on numbers.
Read moreWhat are the costs of remortgaging?
Lender, legal, valuation, broker. We surface every fee up-front so the all-in number is clear.
Read moreWhat our clients say
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Get the timing right
A quick 15-minute call tells you when to apply, how to hold the rate, and what to do if pricing moves before completion.
Named adviser, wherever possible. No call centre. We aim to return your call as quickly as we can. Mon to Fri 9am to 5pm, weekend appointments on request.