When is The Right Time to Remortgage in Newcastle?

Remortgaging is something most homeowners in Newcastle will need to consider at some point, especially if your current deal is coming to an end or your financial needs have changed.

Whether you’re looking to secure a better interest rate, reduce your monthly payments or borrow more for home improvements, timing is key when it comes to remortgaging in Newcastle.

The best time to start exploring your remortgage options is usually three to six months before your current deal ends. This gives you a head start to lock in a new rate and avoid slipping onto your lender’s standard variable rate, which is often much higher.

Most fixed-rate mortgages last between two and five years. Once your fixed term ends, your monthly payments could increase unless you switch to a new deal. Starting early means you’ll have time to compare options, gather documents, and make a smooth transition onto a new rate.

Remortgaging early doesn’t mean you have to complete straight away, you can secure your new deal in advance and set it to begin when your current one ends. If you’re not sure when your deal finishes or whether now is the right time to act, our mortgage advisors in Newcastle can check for you and help plan your next step.

How do you know when to act?

Most lenders send a letter or email a few months before your current deal ends, but it’s worth checking the exact date yourself. If you wait too long, you could end up on a more expensive rate and overpaying unnecessarily.

You don’t need to wait until the very last minute. In many cases, you can secure a new deal up to six months in advance and have it ready to switch over as soon as your current one finishes.

If you’re already a customer, our team will be in touch as soon as you’re within that six-month window. We’ll help you look at your options in plenty of time and make sure you don’t slip onto your lender’s standard variable rate.

If you’re not sure when your deal ends, our mortgage advisors in Newcastle can check this for you and help you plan ahead.

Can you remortgage early?

Yes, you can remortgage before your current deal ends, but timing is key. If you’re still within a fixed or discounted period, you may face early repayment charges. These fees can be expensive, so it’s important to weigh up the cost against any potential savings from switching to a new deal.

That said, there are situations where remortgaging early still makes sense. If interest rates have risen and your current deal is about to end, locking in a new rate now could protect you from higher payments later. Some lenders will let you reserve a deal several months in advance without starting the new mortgage right away.

Our mortgage advisors in Newcastle will always check whether it’s worth making a move early or if you’re better off waiting. Every case is different, and the most suitable outcome usually comes down to timing it just right.

How can I make sure I’m always on the most suitable deal?

The mortgage market can change quickly, and timing your remortgage in Newcastle right often depends on how closely you’re keeping an eye on rates. That’s not always easy when you’ve got work, family and everything else going on.

That’s why many of our remortgage customers choose to sign up for our 24/7 mortgage monitor. It’s a simple way to keep an eye on the market without having to do the legwork yourself. If something better becomes available, or your current deal is approaching its end, you’ll get a heads-up.

This can help you avoid overpaying and makes it easier to plan your next steps. Once you’re within six months of your deal ending, our team will be in touch to review your options and guide you through your next mortgage move.

Date Last Edited: August 8, 2025