Updated April 2026 · Kael Tripton · Finance Guide

Important: This guide is for information only and does not constitute financial advice. Mortgage rates change daily. Always get personalised advice from an FCA-regulated whole-of-market mortgage broker. Your home may be repossessed if you do not keep up repayments on your mortgage.

Best Remortgage Deals UK - April 2026 Guide

Around 1.8 million UK households have fixed rate mortgages ending in 2026 (UK Finance). For those coming off ultra-cheap 5-year fixes taken out in 2021 at an average of 2.58%, the rate environment is significantly higher. But avoiding your lenders Standard Variable Rate (SVR), which averaged 7.13% in April 2026, is critical. Starting the remortgage process 3 to 6 months before your deal ends is the most important action any homeowner facing renewal can take this year.

Current Remortgage Rates - April 2026

Mortgage rates as of April 2026, sourced from HomeOwners Alliance and lender published rates:

Source: HomeOwners Alliance, Rightmove, lender published rates April 2026. Rates change daily.

The gap between the best remortgage deals and the average SVR is substantial. On a 200,000 mortgage over 30 years, the difference between a 5.54% fixed rate and a 7.13% SVR amounts to around 165 per month - approximately 1,980 per year.

When to Start the Remortgage Process

The consensus across mortgage advisers is to start the remortgage process 3 to 6 months before your current deal ends. Key reasons:

• Most mortgage offers are valid for 6 months - lock in a rate now without obligation then switch when your current deal ends
• If rates fall before your new deal starts, you can usually change to a better deal without penalty during the offer period
• Starting too late risks a gap - even one month on the 7.13% SVR is costly
• Lenders are busier with 1.8 million 2026 renewals - earlier applications process faster

2-Year Fix vs 5-Year Fix - Which in 2026?

2-year fixed: You remortgage again in 2028. If the Bank of England base rate (currently 3.75%) falls further as expected, you could access lower rates sooner. Risk: if rates rise, you face higher costs in 2028.

5-year fixed: Certainty until 2031. You know exactly what you pay making budgeting straightforward. Risk: if rates fall significantly you may be locked in above market, with ERCs of up to 5% of the outstanding balance in year 1, reducing to around 1% in the final year, to exit early.

With the base rate at 3.75% and expected to remain broadly stable, many borrowers in 2026 are choosing 5-year fixed deals for payment certainty.

Remortgage Costs - What to Budget

Typical remortgage costs in 2026:

• Arrangement fee: 0 to 2,000 on the new deal
• Valuation fee: Often waived - many lenders offer free valuations
• Legal fees: 300 to 1,000, often covered by the new lender as cashback
• Early repayment charge: 1 to 5% of outstanding balance if exiting early
• Broker fee: Zero for fee-free whole-of-market brokers (L&C, Habito)

Frequently Asked Questions

Can I remortgage before my fixed rate ends?

Yes but you may face an early repayment charge of 1 to 5% of your outstanding balance. Calculate whether savings from switching to a lower rate outweigh the ERC. A broker can model this for your specific circumstances.

What is a product transfer vs a remortgage?

A product transfer means switching to a new deal with your existing lender without going through the full remortgage process. It is quicker, typically involves no credit check, and usually has no legal fees. However, you only access your current lenders deals. A full remortgage with a new lender gives access to the entire market.

What documents do I need to remortgage?

Typically: last 3 payslips or 2 to 3 years of accounts if self-employed; last 3 months bank statements; proof of identity and address; your existing mortgage account details; and details of any other debts. Your broker will guide you on exactly what is needed.

Does remortgaging affect my credit score?

The full mortgage application involves a hard credit check which leaves a visible footprint. Using a broker who pre-assesses your eligibility with soft checks before formally applying minimises the impact on your credit file.

Conclusion

With 1.8 million fixed rate mortgages ending in 2026 and SVRs averaging 7.13%, acting 3 to 6 months before your deal ends is the most important financial action many UK homeowners can take this year. Compare the best 2-year and 5-year fixed rates with a whole-of-market fee-free broker. Locking in a deal now protects against rate rises while leaving open the option to switch if rates fall. For impartial guidance visit MoneyHelper.

Last updated: April 2026. Rate data sourced from HomeOwners Alliance, Rightmove, and lender published rates April 2026. Rates change daily - always verify before applying. For free impartial guidance visit MoneyHelper.