Is Your Five-Year Fixed Mortgage Ending?

Caz Blake-Symes • March 27, 2025

Here’s What You Need to Know


If your five-year fixed mortgage deal is coming to an end, you might be wondering what to do next. Many homeowners who locked in a low fixed rate several years ago are now facing a different mortgage market, where rates have changed.

With 1.8 million people needing to remortgage this year, it is important to plan ahead. Speaking to a mortgage adviser can help you find the best option for your situation.


What Happens When Your Fixed Rate Ends?

When your fixed-rate mortgage deal expires, your lender will usually move you onto their Standard Variable Rate (SVR). This is often much higher than your current rate and could increase your monthly repayments.

To avoid this, you can remortgage by switching to a new fixed or variable rate deal. A mortgage adviser can help you compare options and find a mortgage that suits your needs.


Should You Fix a New Rate Now or Wait?

Some people are considering waiting to see if mortgage rates drop before fixing a new deal. However, this carries risks2:

  • There is no guarantee that rates will fall – Mortgage rates are influenced by many factors, not just the Bank of England base rate.
  • You may end up paying more – If you move onto your lender’s SVR while waiting, your monthly payments could be significantly higher.
  • Lenders set their own rates – Even if interest rates fall, lenders may not pass on reductions in the way you expect.

A mortgage adviser can help you understand your options and decide whether it is better to fix now or wait.


Can You Secure a New Deal Before Your Current One Ends?

Yes, many lenders allow you to lock in a mortgage rate up to six months before your current deal expires. This means:

  • If rates go up, you have secured a lower deal in advance.
  • If rates go down, you may be able to switch to a better deal before your new mortgage starts.
  • You avoid moving onto a high SVR, helping you manage your monthly payments.

A mortgage adviser can check which lenders offer this option and help you secure the right deal at the right time.


Why Speak to a Mortgage Adviser?

A mortgage adviser can:

  • Help you understand your options – Everyone’s situation is different, and an adviser can find a deal that works for you.
  • Compare a wide range of lenders – Some mortgage deals are not available directly to customers.
  • Save you time and effort – Searching for mortgages can be complicated, but an adviser will handle the process for you.
  • Help you avoid unnecessary costs – The right remortgage deal can prevent you from paying more than necessary.



What Should You Do Next?

Please call Russell on 01934 442023 or email russell@swmortgages.com

For further information about the Mortgage & Protection products and services we offer, please visit www.westonmortgagesonline.com


To view the full article and our March newsletter please click here.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

 

Our initial mortgage consultation is free and with no obligation, should you proceed to an application there will usually be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £290to £490 and this will be discussed and agreed with you at the earliest opportunity.

Common Bank Statement Mistakes That Could Delay Your Mortgage

By Caz Blake-Symes • December 3, 2025
Applying for a mortgage is exciting, but it often involves more scrutiny than people expect. One of the first things a lender looks at is your bank statements. They give a real-time picture of how your money is managed, whether your income is steady, and whether your spending habits suggest you can comfortably take on

A Guide to the Autumn Budget 2025

By Caz Blake-Symes • November 28, 2025
Chancellor Rachel Reeves has delivered her 2025 Autumn Budget, the first major fiscal statement of the year for this Labour government. We wanted to provide you with an overview of the most notable announcements made in yesterday’s speech.

How to Choose the Right Investment Property in 2025

By Caz Blake-Symes • November 17, 2025
The buy-to-let market continues to evolve. With rental demand remaining strong and borrowing costs higher than in previous years, choosing the right investment property has become a more strategic decision than ever.

Mortgage Product Transfer vs Remortgaging: Why Advice Can Make All the Difference

By Caz Blake-Symes • November 6, 2025
If your mortgage deal is coming to an end, your lender may already have contacted you with a new rate. It often looks simple. You log in, click a few buttons, and switch to the next deal. However, before you do that, it is important to ask whether that offer is truly the right one for you.

What is the Renters’ Rights Act,and what does it mean for tenants?

By Caz Blake-Symes • November 3, 2025
The changes laid out in the Renters’ Rights Bill were the biggest shakeup of rental legislation in decades. In October 2025, the Bill gained Royal Assent, which means the bill becomes the ‘Renters’ Rights Act’, and will now become law. The government has committed to making sure landlords are given time to adjust to th

First-Time Buyers Now Spend £163,000 on Rent Before Buying

By Caz Blake-Symes • October 21, 2025
New figures have revealed that first-time buyers are now paying an eye-watering £163,047 on rent before they are able to purchase their first home. This represents a 40 per cent increase in a decade, according to research from specialist mortgage lender Perenna.

Zoopla’s House Price Index: September 2025

By Caz Blake-Symes • October 13, 2025
Pre-Budget speculation over possible tax changes is impacting market activity for homes over £500,000. The rest of the mainstream housing market is carrying on, largely unaffected.

Exciting New First-time Buyer Mortgage Deal!

By Caz Blake-Symes • October 7, 2025
Weston Mortgages Online is delighted to be able to offer this new product from the Newcastle Building Society, as part of their “ First Step” range of products.

Why Speaking to a Mortgage Broker Could Save You Thousands

By Caz Blake-Symes • September 29, 2025
Taking out a mortgage is one of the biggest financial commitments you will ever make. While securing your initial deal can feel like a major milestone, it is only the beginning. With most UK mortgages offering two or five-year fixed rates, many homeowners will need to remortgage sooner than they realise. Failing to pla

Navigating the Buy-to-Let Market in 2025

By Caz Blake-Symes • September 23, 2025
The buy-to-let market in 2025 is evolving, and with changing tax rules, shifting demand, and rising costs, landlords need more than just a good property. You need a clear financial strategy and the right mortgage to match.