Your Fixed Rate Is Ending – Here’s What to Do Next

If your fixed-rate mortgage deal is coming to an end, we want to ensure you’re not alone and you’re not stuck. With millions of UK homeowners in the same boat and interest rates significantly higher than just a few years ago, making the wrong move now could cost you dearly.

But the good news? There are smart, straight forward steps you can take to stay in control and we’re here to guide you through every one of them.

Let’s break it all down.

Why This Moment Really Matters

Back in December 2021, the Bank of England’s base rate was just 0.1%. You could grab a fixed-rate mortgage deal under 1%. Fast forward to today, and while the base rate has been cut slightly to 4.25%, the reality is… your next mortgage deal may not look quite so kind.

That’s why acting early and knowing your options is so important.

Step 1: Check When Your Fixed Rate Ends

This might sound obvious, but you’d be surprised how many people let this creep up on them.

To find your mortgage end date:

• Log into your mortgage account online, or
• Check your original paperwork or mortgage offer letter.

Why this matters: If you do nothing, your lender will automatically switch you to their Standard Variable Rate (SVR) and that’s where things can get expensive.

What’s a Standard Variable Rate (SVR)?

It’s your lender’s “default” interest rate and it’s typically much higher than any fixed deal. The current average SVR sits around 8.09%, which can lead to a nasty shock in monthly repayments.

Imagine you’ve been paying £850/month on a fixed deal… then your payments suddenly jump to over £1,200. Ouch!

This is why starting the remortgage process up to 6 months before your deal ends is a smart move.

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Step 2: Speak to Your Lender

Once you know your end date, give your lender a ring and ask about your options. If you stay with them, you might be offered a product transfer. This is essentially a new mortgage deal without switching providers.

You can ask

• What rates are available?
• What will my new monthly repayments look like?
• Can I change the term or switch to interest-only?

Mortgage Tribe tip: Since 2023, lenders are expected to follow the Mortgage Charter, meaning they should help customers who are facing rising costs. For example, they might offer a temporary switch to interest-only repayments, or let you extend your term without harming your credit score.

That said, lenders can only show you their own products. To see everything available, keep reading…

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Step 3: Speak to a Mortgage Broker (Like Us)

This is the game-changer.

At Mortgage Tribe, we’re not tied to one lender, we compare the entire market, including exclusive deals you won’t find on comparison sites. We’ll do the heavy lifting for you, making sure your next deal fits you.

• Budget
• Plans
• Future flexibility

What if I’ve got savings?

Good question. You might be able to pay off a chunk of your mortgage (called a part repayment) when switching to a new deal. That could mean:

• Lower overall repayments
• Less interest paid over the long term
• More breathing room every month

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Step 4: Make the Right Type of Mortgage Decision

Here’s where people get stuck, choosing between a 2-year, 5-year, 10-year, or tracker mortgage.

Not sure what this means? Quick explainer

• 2 or 5-year fixed: Your rate stays the same for that period. Predictable. Stable. Great if you want certainty.
• 10-year fixed: Longer-term stability, but usually less flexibility if you need to move or change.
• Tracker mortgage: Follows the Bank of England’s base rate. Payments can go up or down. Good if you think rates are likely to fall, but it’s a gamble.

Quote from Tom Ashton, Director at Mortgage Tribe:
“There’s no one-size-fits-all answer here. It’s about understanding what works best for your life — not just the market. That’s exactly why people work with us: to make confident, informed choices that protect their future.”

Let us walk you through the options so you don’t have to guess.

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Step 5: Plan for Higher Repayments

Let’s be honest - some people coming off ultra-low rates are going to feel the difference.

If you’re going from 1.5% to 4.5% (or more),your monthly repayments could jump significantly.

That’s why now’s the time to:

• Rework your budget
• Identify any spending you could cut back
• Set aside a buffer if you can

Need a hand? Our advisers can help you map it all out and talk about options like term extensions or flexible products to ease the transition.

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Hear From One of Our Happy Clients

“When our fixed rate ended, I honestly panicked. I wasn’t sure what to do and didn’t want to get stuck with my lender’s higher rate forever. Mortgage Tribe explained everything clearly, found me a better deal than my bank, and handled all the boring admin too. They saved me over £500 a month — absolute legends.”
— Patrick, Warfield

What Happens Next?

We’ve helped hundreds of homeowners, first-time buyers, and landlords across the UK avoid mortgage pitfalls and save thousands — and we’d love to help you too.

Here's How We Do It (Our Simple 3-Step Process):

Step 1: Chat
We’ll learn about your situation and goals - no pressure, no jargon.

Step 2: Compare
We scan the whole market (not just one lender) and present you with personalised options.

Step 3: Complete
Happy with your deal? We’ll handle everything - from paperwork to chasing solicitors. One point of contact, start to finish.

💬 Ready to Get Ahead of Your Fixed Rate Expiry?

Avoid the stress. Avoid the unnecessary costs.Let Mortgage Tribe help you make your next mortgage decision your best one yet.

👉 Book your free consultation today.

There may be a fee for mortgage advice. The precise amount will depend on your circumstances but will range from £395 to£500 and this will be discussed and agreed with you at the earliest opportunity.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Mortgage Tribe Limited, trading as Mortgage Tribe, is an appointed representative of HL Partnership Limited, which is authorised and regulated by the Financial Conduct Authority.