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What Happens When My Fixed Rate Mortgage Ends?

Your home may be repossessed if you do not keep up repayments on your mortgage.

When your fixed rate mortgage has come to an end, you will be moved to your lender’s standard variable rate (SVR). If this has happened to you, you may wonder what your options are and how quickly you can transfer to a new, more favourable rate.

It’s easy to go into panic mode when a mortgage term comes to an end, but there’s no need to worry, and you could stand to benefit from this change.

What are your options?

Stick with the SVR

You can stick with the standard variable rate, however the lender can change this at any time, usually in line with the Bank of England’s base rate. To avoid getting hit by an unstable financial market, it’s advisable to research your options. A mortgage advisor can help with this. SVR rates tend to be higher than fixed rates as well, so you are likely to lose out by staying with this type of mortgage.


The end of a fixed rate mortgage is the ideal time to have a spring clean of your finances and is the perfect window of opportunity to remortgage. You may even get a better rate. If over the term of your previous mortgage your LTV ratio has significantly decreased and the value of your property has increased then you could be in a prime position to find a better mortgage.

You can speak to your current lender to see what they have to offer, but it can also be worth shopping around. Speaking to a mortgage broker can help bring clarity to your search for the right rate.

They will also be able to help factor in all your remortgaging costs so you’re not left in the dark when it comes to budgeting.

Speak to a mortgage broker today

Our expert team of mortgage broker in Northampton can talk you through your options, making sure you choose the right type of mortgage for your circumstances. If your fixed rate mortgage has come to an end, we can advise on whether you’re better off remortgaging or sticking with your current rate. Contact us today to book your initial consultation.

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