Remortgaging In 2026: When To Act, What Lenders Check, And How To Get A Better Rate
If your fixed rate ends in 2026, a little early planning can save you stress and money. Rates have been moving, lenders are tightening and relaxing criteria at different times, and legal work can be slower than expected. The good news, you can take control now. Here is a calm, practical guide to when to act, what lenders check, and the steps to secure a better rate.
Start early, then pace yourself
You do not need to wait for a renewal letter. Begin preparations around six to seven months before your fixed deal ends. Many lenders issue offers that stay valid for up to six months. Starting early gives you:
- Time to compare a product transfer with a full remortgage.
- Space to fix any paperwork gaps.
- A buffer if valuations or legal work take longer.
If rates improve after you secure a new deal, in some cases, it may be possible to switch to a better product with the same lender before completion, subject to availability and criteria. A broker will keep watch and advise when to pivot.
Product transfer or full remortgage, which is right?
A product transfer is a new rate with your current lender, usually with minimal checks and no legal work. It can suit you if:
- Your income or credit has weakened since you took the mortgage.
- You need a quick, low-hassle switch.
- Fees elsewhere remove the benefit of moving.
A full remortgage moves your loan to a new lender and often brings sharper pricing, cashback incentives, or better features. It can suit you if:
- Your loan to value has improved because you have paid down the mortgage or your property has risen in value.
- You want features like offset, part and part, or flexible overpayment rules.
- You are raising extra funds for renovations or debt consolidation.
We work from a comprehensive panel which is representative of the whole-of-the market and will search across high-street and specialist lenders to show the true comparison. If you want a local conversation and a clear side by side view of both routes, you can speak with a mortgage broker southend on sea.
What to do as your mortgage ends
- Mark your expiry date and count back seven months.
- Gather documents, then run an affordability sense check.
- Decide if you want to keep, reduce, or extend your mortgage term.
- Review goals, lower payments, clear the loan faster, release equity, or add flexibility.
If you do nothing, your loan will usually drop onto the lender’s Standard Variable Rate, which is typically higher and can move without notice. Avoid that gap by lining up the next deal to start the day your fix ends.
What checks are done for a remortgage?
Checks vary by lender and whether you are doing a product transfer or a full remortgage.
Most full remortgages include:
- Identity and anti-money-laundering checks.
- Credit search, soft or hard, to review conduct and commitments.
- Affordability assessment using your income and outgoings.
- Property valuation, often automated but sometimes a physical visit.
Documents you are likely to need:
- Photo ID and proof of address.
- Three to six months’ bank statements.
- Employed, latest three months’ payslips and P60.
- Self employed and company directors, SA302s and Tax Year Overviews for two to three years, plus accounts or an accountant’s certificate.
- Details of loans, credit cards, childcare, school fees, and any other commitments.
Some product transfers need minimal checks, but lenders can still run internal affordability and credit screens.
Can a bank refuse to remortgage you?
Yes, a mortgage is always subject to lender criteria. Common reasons include missed payments, high credit utilisation, large recent borrowing, insufficient income under their model, or property concerns. That is where a broker adds value, by matching you to a lender whose criteria fit your situation, including specialists if you have complex income or credit blips. If you run your own business, our pages on mortgages for self employed leigh-on-sea set out typical evidence and workarounds.
Early repayment charges, do they block you?
Early repayment charges, ERCs, usually apply until your fixed period ends. You can still apply early and secure a new deal that starts when your ERC ends. If you want to change lenders before your ERC expires, your broker will calculate the true cost. In a few cases, a lower rate or debt consolidation may still justify an early move, but it needs careful math.
What if your income or employment has changed?
- Employed with a new job, lenders can accept probationary periods or future start dates with a signed contract.
- Self employed, timing around tax returns is crucial. Some lenders can work from one year of accounts. Others will use your latest year if it is higher. An accountant’s certificate can help present your case clearly.
- Variable or bonus income, lenders assess an average and may shade it. Evidence is key.
If your profile has shifted since your last application, a broker can position the documents and choose the lender whose policy suits you. For a deeper look at criteria and routes, explore mortgage brokers for self employed in southend.
Do you need a solicitor for a remortgage?
Not always. Product transfers typically require no legal work. Full remortgages do need conveyancing, but many lenders offer free legal packages or a cashback that lets you choose your own solicitor. Your broker will manage instructions and updates, and coordinate with the conveyancer and lender so completion aligns with your current deal’s end date.
How far in advance should you apply?
Six months out is a sensible target. Start the conversation at month seven, shortlist by month six, and aim to submit by month five. This timeline leaves room for valuations, underwriting queries, and any needed re-offers if a better rate appears.
Should you fix for two or five years now?
There is no one size fits all. Consider:
- Your plans, moving soon or staying put.
- Your risk comfort, payment certainty vs potential savings if rates fall.
- Price difference today, sometimes the five year fix is close in price to the two year, sometimes it is not.
- Flexibility needs, overpayment allowances, portability, and ERC profile.
A common approach, if you expect to move or need flexibility, a shorter fix or a tracker with no ERCs may suit. If you value certainty and plan to stay, a five year fix gives stability. Your broker can model monthly payments and total cost over the initial period for each option.
Can you negotiate your mortgage renewal?
Yes, within reason. You can:
- Ask your current lender for a better retention product.
- Use like for like external quotes to encourage a sharper offer.
- Review fees as well as rates, sometimes a slightly higher rate with no fee is cheaper overall.
A broker will do this legwork, compare both routes, and secure the paperwork. If you want a concise comparison and a single point of contact who manages lenders and conveyancers, a whole of market remortgage in southend service can be helpful.
Tactics to lower your monthly payments
- Adjust the term, extending reduces monthly cost, shortening reduces total interest. You can shorten later if your budget improves.
- Overpay when you can, many fixes allow 10% per year without charge.
- Consider part and part, a blend of repayment and interest only if you have a clear plan to clear the interest only element.
- Offset, if you hold savings, an offset mortgage can reduce interest without locking your cash away.
- Improve your loan to value, even small balance reductions can drop you into a cheaper LTV band after valuation.
Documents checklist to speed things up
- ID and address proof.
- Three to six months of bank statements.
- Income evidence as above.
- Mortgage statement and buildings insurance details.
- Proof of any ground rent or service charges if leasehold.
Neat documents mean fewer underwriting queries and faster offers.
Summary, a calm plan for 2026
- Start six to seven months before your fix ends.
- Compare a simple product transfer with a full remortgage across lenders.
- Prepare documents early and keep spending sensible in the run-up.
- Decide on features and term, not just the headline rate.
- Use a broker to keep you on track, compare high-street and specialist options, and coordinate with the solicitor.
The information contained within this article was correct at the time of publication but is subject to change.
At Goldmanread, we compare products across a wide panel of lenders, track rates during the process, and manage the handover with the conveyancer so your new deal starts on time. If you would like local, practical guidance and a clear plan, book a free mortgage consultation leigh-on-sea.
Your home may be repossessed if you do not keep up repayments on your mortgage. Goldmanread Limited is an appointed representative of PRIMIS Mortgage Network, a trading style of Personal Touch Financial Services Ltd, which is authorised and regulated by the Financial Conduct Authority.
