If your current mortgage deal is coming to an end, it’s worth looking at your options before your existing rate expires.

In many cases, we’d suggest starting the conversation around six months before your current mortgage deal ends.

Why?

Because if you do nothing when a fixed or introductory mortgage deal finishes, you may move onto your lender’s Standard Variable Rate (SVR), which could be more expensive than other options available to you.

Starting early gives you time to look at:

• A new deal with your existing lender
• Remortgaging to a different lender
• Current mortgage rates
• Your property’s estimated value
• Your current Loan to Value (LTV)
• Whether changing the mortgage term makes sense
• Whether you want to borrow additional money
• Any early repayment charges or fees

Should I stay with my current lender or remortgage?

That depends on the numbers and your circumstances.

Staying with your existing lender and completing a product transfer can sometimes be straightforward. However, another lender may potentially offer a more suitable deal.

That’s where getting advice can help.

Rather than automatically accepting what your existing lender offers, we can compare the options available and help you understand the overall costs.

And remember: you don’t have to wait until your mortgage deal has actually ended to speak to us.

Mortgage deal ending in the next six months? Speak to Vault and we’ll help you review your options before your current deal expires.