In 2025, there is a massive remortgage opportunity. We recommend speaking to a broker six months out to see how you can get organised before your fixed-rate mortgage comes to an end.
Are you one of the 1.8 million mortgage borrowers coming to the end of their fixed-rate mortgages over the next twelve months? Whether you’ve been on a two-year or five-year fixed-rate deal, things might look very different financially, as we’ve had a lot of change!
Whether you are looking at lower repayments (after a two-year fixed rate) or higher payments (after a five-year fixed rate), get in touch as soon as possible so we can spend some time finding the best deal for you before your current contract ends.
As the Bank Base Rate starts to fall, affordability gradually improves with more opportunities for borrowers to save money by switching lenders.
For example, those coming off higher rates may maintain the same monthly payments while reducing their mortgage term. Saving thousands in future interest payments. Or you might be able to lower your monthly payments but use some of the newly available funds to pay for more protection, start saving into an ISA, or pay more into a pension.
Mortgage rates dropped in 2024, with two cuts in the Bank of England base rate helping to make borrowing somewhat more affordable. However, rates remain much higher than a few years ago. The average rate on a two-year fix fell from 5.93% to 5.62% throughout 2024. Borrowers may see more drops in the new year. The base rate, currently 4.75%, is projected to fall to around 4% by the end of 2025. Resulting in the cheapest two-year fixes, falling from the current rate of 4.2% to around 3.5%.
Recent Bank of England data shows that more than four million people will need to remortgage to a higher rate by the end of 2027. Chatting with a mortgage broker can help assess your options to ensure you get the best deal when remortgaging. If you're struggling to pay your mortgage, contact your lender as soon as possible to discuss what support is available.
Chat with us to see how we can help you remortgage in 2025!
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Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it. A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.