Mortgages & finance · 4 min read
Remortgaging in 2026: when to switch and how to save in Coventry: the current take
Two thirds of UK borrowers overpay by drifting onto the SVR. Here's the six-month, three-month, and one-month remortgage timeline that saves the average household £2,400 a year.
Two thirds of UK borrowers overpay by drifting onto the SVR. Here's the six-month, three-month, and one-month remortgage timeline that saves the average household £2,400 a year.
6 months out
Check your current lender's redemption date and product ERC (early-repayment charge). Get a broker to run whole-of-market rates including your existing lender's retention deals.
3 months out
Apply for a new deal. Rates can be reserved for 3–6 months, so you lock in today's price with no obligation if better rates arrive.
1 month out
Final valuation, offer letter, solicitor instructed (free with most product transfers). New rate starts on the day your old one ends.
Product transfer vs full remortgage
Product transfers (staying with your lender) skip conveyancing and take days, but rates are usually 10–30bps worse. On £300k+ balances, a full remortgage almost always wins.
Frequently asked questions
- Do I need to remortgage if I'm on the SVR?
- Yes, urgently — SVRs run 200–400bps above the best available fix.
- Will remortgaging affect my credit score?
- One hard search briefly, then it recovers within 3 months.
