Why You Should Speak to Your Adviser Before Going Direct to a Lender When Your Mortgage Deal Ends

Caz Blake-Symes • June 3, 2025
couple thinking about mortgage

When your fixed-rate mortgage deal comes to an end, it might feel easiest to stay with your current lender. After all, they know you, they already have your details, and they might even send you a letter inviting you to switch to a new rate.

But before you sign anything, it is worth pausing to speak to your mortgage adviser. That simple conversation could save you money, give you more choice, and help you make a better-informed decision.


Here is why.

Your lender only shows you their own products

When you go direct to your lender, you are only seeing the options they choose to offer you. In contrast, your adviser can search across a wide panel of lenders to find a product that fits your circumstances. That could mean a lower interest rate, lower fees, or a more flexible deal that better suits your long-term goals.

Lenders do not always advertise their most competitive deals to existing customers, and some of the best rates on the market are only available through advisers.


You might be eligible for more than you think

Over the course of your mortgage, your circumstances may have changed. Perhaps your property has gone up in value, your income has increased, or your priorities have shifted. A mortgage adviser can review your full financial situation and check whether you qualify for better terms.

If you have built up equity, for example, you might now qualify for a lower loan-to-value band, which could open up access to more competitive rates.


There is more to a mortgage than the interest rate

While the interest rate is important, it is not the only factor. Your adviser will take the time to look at the overall cost of the deal, including any product fees, incentives such as cashback or free valuations, early repayment charges, and flexibility features like overpayments or porting.

It is not just about getting a cheap rate; it is also about finding the right solution for your circumstances.


You will receive personalised, regulated advice

A mortgage adviser is there to act in your best interests. They are regulated to ensure that the advice they give is suitable and appropriate for your needs. They will take the time to understand your goals such as keeping monthly payments low, repaying your mortgage faster, or securing flexibility for future plans.

They will also handle the paperwork and manage the process for you, saving you time and helping avoid mistakes that could lead to delays or extra costs.

 

It could cost you to wait

If you do nothing when your deal ends, you will automatically be moved to your lender’s standard variable rate (SVR). This rate is usually higher than the fixed or tracker rates available on the market and could add hundreds of pounds a month to your repayments.

By planning ahead and speaking to your adviser early, you can lock in a new deal before your current rate ends and avoid any unnecessary increases to your monthly payments.


Final thoughts

Your mortgage is likely one of your biggest financial commitments. When your current deal comes to an end, it is important to make a choice that works for your future and not just the easiest option at the time.

A short conversation with your adviser could make a real difference. Whether you want to remortgage, switch deals, or explore new opportunities, we are here to help you make the right move with confidence.


How can I get advice?

Please call Russell Green for full details and options if you are looking for any mortgage or protection products

Get in contact with Russell who will be delighted to discuss all the various options available to you.

We have a wide selection of lenders and products available to us and will find you the most suitable product to suit your specific needs.


How to Contact Us

Tel 01934 442023

Email russell@swmortgages.com

Complete a form via our website www.westonmortgagesonline.com

 

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.

 

Taken from an article in HLP’s May Newsletter. All the information in this article is correct as of the publish date 29th May 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

 

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If the price is over £625,000, you cannot claim the relief. Follow the rules for people who’ve bought a home before. Example You are a first-time buyer and purchase a property for £500,000. The SDLT you owe will be calculated as: 0% on the first £425,000 = £0 5% on the remaining £75,000 = £3,750 total SDLT = £3,750 New leasehold sales and transfers When you buy a new residential leasehold property you pay SDLT on the purchase price of the lease (the ‘lease premium’) using the rates above. If the total rent over the life of the lease (known as the ‘net present value’) is more than the SDLT threshold (currently £125,000), you’ll pay SDLT at 1% on the portion over £125,000. This does not apply to existing (‘assigned’) leases. Higher rates for additional properties You’ll usually have to pay 5% on top of SDLT rates if buying a new residential property means you’ll own more than one. If you’re replacing your main residence You will not pay the extra 5% SDLT if the property you’re buying is replacing your main residence and that has already been sold. If you have not sold your main residence on the day you complete your new purchase you’ll have to pay higher rates. This is because you own 2 properties. How does stamp duty work on buy-to-let properties If you’re buying an additional property, such as a buy-to-let, landlords will have to pay an extra 5% in stamp duty on top of the rates for each band. For further information and to use online calculators please visit https://www.gov.uk/stamp-duty-land-tax Please be aware that by clicking on to the above link you are leaving Weston Mortgages Online website. Please note that Weston Mortgages Online nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page. IF YOU HAVE ANY QUERIES REGARDING YOUR SPECIFIC SITUATION/LIABILITY WE RECOMMEND THAT YOU SPEAK TO YOUR SOLICITOR, CONVEYENCER OR ACCOUNTANT. For further details about the service, we offer or any other mortgage information book a consultation with one of our expert Mortgage Advisers, please contact us Please call Russell Green on 01934 442023 or email russell@swmortgages.com Visit our website www.westonmortgagesonline.com Please remember: 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.
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