Your mortgage does not usually become due in full when the fixed deal finishes. Unless you arrange another deal, the interest rate normally moves to the reversion rate in your terms, and your monthly payment can change. Check the exact date and figures now so there is time to choose your next step.
What happens when a fixed-rate mortgage deal ends?
The fixed interest rate ends on the date in your mortgage offer. If you have not arranged a replacement, your lender will normally charge the reversion rate specified in the agreement, often its standard variable rate (SVR). The mortgage balance remains payable over the remaining loan term.
Two dates that are easy to confuse: a two- or five-year fixed deal can end while many years remain on the mortgage loan. An interest-only mortgage or a loan reaching its actual repayment date needs a different repayment plan; ask your lender if either applies.
An SVR is set by the lender and can change. It may be higher or lower than your expiring fixed rate. Your lender’s notice or account shows the actual reversion rate and expected payment. If you have not received those figures, request them rather than estimating from an advertised rate.
A simple timeline for your next mortgage decision
In good time before expiry
Find the deal end date, current balance, remaining loan term and any early repayment charge in your offer or account. Ask the current lender when its replacement offers become available. MoneyHelper suggests beginning a review up to six months before a deal ends; the useful window depends on the lender.
Before accepting a new offer
Compare the lender’s product-transfer illustration with any suitable new-lender remortgage illustration. Check the start date, product fee, repayment, loan term and total cost over a comparable period. Ask whether a reserved deal can be changed before it begins and what costs would be lost.
At the changeover
Confirm in writing which rate starts on which date and when the first new payment is due. A remortgage needs the new lender and conveyancer to complete the switch; a same-lender product transfer follows that lender’s process. If neither is in place, budget using the lender’s stated reversion payment.
If your fixed deal has already ended: it is still worth asking about current options. Check the rate and payment being charged, whether a new deal could start, and any charges. Do not stop making payments while comparing.
Three routes when the fixed period finishes
Choose another deal with your lender
This is commonly called a product transfer. Ask what deals your lender will offer for your present balance and term, when one can begin and which checks or fees apply. Borrowing more or changing the loan can involve a separate assessment.
Move the loan to a new lender
A remortgage may widen the deals you can consider, subject to eligibility, affordability and the property. The new application can involve valuation, legal work and charges. Compare the actual offer with staying put, including any incentive and fee.
Remain on the reversion rate for now
That may leave time to decide or avoid committing to a new fixed period, but the payment can change and the rate may be less competitive. Check your lender’s terms on overpayments and switching; do not assume that every SVR has the same flexibility or that rates will fall.
For a fuller stay-versus-switch worksheet, use our product transfer versus remortgage comparison. This guide concentrates on the expiry date and the action around it.
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A deal expiry can create a deadline and a new household budget. It is reasonable to see how an adviser explains timing, costs and choices before you share your own mortgage details.
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Compare the payment and the whole cost
A lower monthly payment can result from a longer term or a fee added to the loan, rather than a cheaper mortgage overall. Compare lender illustrations on the same balance and term where possible, then ask what any proposed changes cost over time.
- Current deal: note the expiry date and any early repayment charge if a new rate starts sooner.
- New offer: compare the interest rate, product fee, monthly payment, end date and reversion rate.
- Switching costs: check any legal, valuation, account or exit costs, and only count incentives included in the offer.
- Your plans: an expected move, extra borrowing, overpayment or change in income can affect which features matter.
Ask for figures in pounds and pence for the period you expect to keep the deal. The remortgage costs guide explains the individual cost headings in more detail.
Concerned you cannot afford the next payment? Speak to your existing lender promptly. It can explain the support available for your circumstances. MoneyHelper also provides free guidance for people worried about mortgage payments. A new deal, term extension or interest-only period is not an automatic solution, and each can have longer-term costs.
If your credit record or income has changed, raise it before relying on a new-lender offer. Our bad-credit remortgage guide deals with that separate homeowner question.
Fixed-rate expiry: quick answers
Does my mortgage end when the fixed rate ends?
Usually, no. The fixed rate is one deal within the longer mortgage term. Unless the loan is due to be repaid, you continue owing the balance and making payments. Check your mortgage offer for both the deal end date and the loan repayment date.
What rate will I pay if I do nothing?
Your lender will normally move the loan to the reversion rate stated in your mortgage terms, often its standard variable rate. That rate can change and your payment may rise or fall. Check the lender’s notice for the actual rate and payment rather than relying on a general example.
How early should I review my fixed-rate deal?
Put the end date in your diary and contact your lender or adviser in good time; MoneyHelper suggests starting to review up to six months beforehand. How early you can reserve or switch to a new deal depends on the lender and product. Check any early repayment charge before bringing the start date forward.
Can I arrange a new deal now and change it if rates fall?
Some lenders allow a new deal to be reserved before the current fixed rate ends, and a better like-for-like offer may be available before it starts. The Mortgage Charter sets out commitments for participating lenders, but the terms, deadlines and any non-refundable costs must be checked with your own lender.
Is a product transfer the same as a remortgage?
A product transfer means choosing another deal with your current lender. A remortgage usually replaces the existing loan with a mortgage from a different lender. The checks, fees and timing depend on the changes requested and the lenders involved.
What if the new monthly payment looks unaffordable?
Contact your current lender as soon as you are concerned, ideally before a payment is missed. Explain your budget and ask what support is available. You can also seek free, independent debt guidance. Do not assume that a new mortgage or a longer term will be available or suitable.
Where this guidance was checked
General process and timing points were checked against UK consumer and regulatory sources on 23 October 2026. Your own mortgage offer, current lender notice and any new illustration provide the figures and conditions for your case.
- MoneyHelper: remortgaging to get the best deal — deal-end review, product transfers and switching costs.
- MoneyHelper: worried about rising mortgage payments — reversion and contacting your lender.
- FCA: Mortgage Charter commitments — early deal reservation and the limits of participating-lender commitments.
This is general information, not an individual mortgage recommendation. Rates, product availability, checks and charges can change. Ask your lender or adviser to assess your position before making a decision.
Bring the deal-end date into the conversation
Tell Count Ready when the current fixed rate ends, your approximate balance, whether your lender has sent a new offer and whether you plan to move or borrow more. An adviser can help you compare the available routes and their costs. A conversation does not guarantee a particular rate or approval.
Please do not send identity documents, bank statements or credit reports through an open enquiry form. Read our Terms of Business for service and fee details. Count Ready is a broker, not a lender. Your home may be repossessed if you do not keep up repayments on your mortgage.