Mortgage rates are back in the headlines, and if your current deal ends in 2026, this is a sensible time to review your options.
Over recent days, lenders have repriced products and withdrawn mortgage deals as markets react to renewed inflation concerns and wider global uncertainty. Reporting this week says the average two-year fixed mortgage rate has risen to around 5.43%, while more than 500 products have been pulled from the market. The Bank of England has also kept Bank Rate at 3.75% while warning that higher energy prices could keep inflation under pressure1.
That does not mean homeowners should panic. It does mean planning ahead is more important.
When your current fixed or discounted mortgage deal ends, you may be moved onto your lender’s Standard Variable Rate unless you arrange a new product. That can mean a noticeable increase in monthly payments. MoneyHelper says borrowers approaching the end of a deal should review whether switching with their existing lender or remortgaging elsewhere is the better fit for their circumstances2.
The recent headlines are a useful reminder that mortgage pricing can change quickly. But the most helpful response is usually a calm and informed one, not a rushed reaction to the news.
Reviewing your mortgage early gives you time to understand what your next monthly payment could look like, what options may be available and what best suits your plans over the next few years. It also gives you more time to think about your wider finances, rather than making a decision under pressure.
In many cases, it may be possible to secure a new mortgage deal ahead of time and, if rates improve before the new deal starts, switch to a lower one. That depends on your lender’s rules and your individual circumstances, but it can provide reassurance in a market where pricing is changing quickly3.
For most homeowners, the best outcome comes from acting early enough to have choices, but not feeling forced into a quick decision. That is why reviewing things now can be helpful if your mortgage deal ends in the next 6 to 9 months.
Speaking to your mortgage and protection adviser can help you look at the bigger picture, not just the interest rate. Alongside your mortgage options, they can also discuss how any change in monthly payments may affect your wider financial plans and whether your current protection arrangements still reflect your circumstances.
The aim is simple: to help you understand your options, prepare for any change in monthly payments and make a decision that feels right for your circumstances.
If your mortgage deal ends in 2026, now is a good time to start the conversation with your mortgage and protection adviser. Reviewing your options early can help you plan ahead with more clarity and less last-minute pressure.
If your current mortgage deal is due to end in the next 6 to 9 months, speak to your mortgage and protection adviser to review your options early.
References:
- The Guardian (2026). UK mortgage interest rates expected to rise despite Trump’s Iran pause. [online] the Guardian. Available at: https://www.theguardian.com/business/2026/mar/23/uk-mortgage-interest-rates-markets-bank-of-england-iran-war [Accessed 24 Mar. 2026].
- MoneyHelper (2025). Can I change my mortgage provider? | MoneyHelper. [online] Available at: https://www.moneyhelper.org.uk/en/blog/buy-or-rent-a-home/can-i-change-my-mortgage-provider? [Accessed 24 Mar. 2026].
- MoneySavingExpert (2026). Getting ready to remortgage. [online] MoneySavingExpert.com. Available at: https://www.moneysavingexpert.com/mortgages/getting-ready-remortgage/ [Accessed 24 Mar. 2026].
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All the information in this article is correct as of the publish date 26th March 2026. 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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