We’re here to HELP…

Over 20% of all outstanding residential mortgage borrowers will come to the end of their deal period this year.

This equates to about 1.8m residential mortgages; on top of almost 250,000 buy-to-let loans that will also come to fruition.

Remortgaging to a different provider is expected to rise by 30% against 2024. Product transfers, where the borrower remains with the existing lender, are also expected to rise, but only by 13%.

Busy mortgage market

In addition to the sizeable remortgage numbers, there will also be those looking to get onto the property ladder for the first time. This group tends to account for over half of all home purchases made with a mortgage.

Specific borrowing needs

Whilst some mortgage applications may be fairly straightforward, many can be more complex, and that may only become apparent, once we start discussing your situation, and what you require. This is why an increasing number of borrowers turn to advisers, such as us.

In some instances, the High Street lenders may not be a viable option, and that’s why we also have relationships with specialist lenders, who may provide the solution.

Affordability

This has been an issue for some, but the affordability pressures may ease in 2025, in light of the desire from the Financial Conduct Authority for lenders to be more flexible with regard to stress-testing deals.

2-year vs 5-year deals

After living in a higher interest rate environment for a few years now, those coming off 2-year fixes may see similar rates on offer (see below). However, those coming off 5-year deals will face the possibility that their new interest rate may be double what it was.

Average Residential Mortgage Rates

2-year fixed rate deal
– 1 May 2025 = 5.18%
– 1 May 2023 = 5.26%

5-year fixed rate deal
– 1 May 2025 = 5.10%
– 1 May 2020 = 2.35%

Product transfers

We can help you with renewing your new deal with your existing lender, although it may make sense for us to look at the wider marketplace first. Also, we’d assess if the positive factors for choosing your current lender 2, 3 or 5 years ago still puts them at the top of the tree this time round.

Remortgage elsewhere?

There are numerous elements to consider here, such as:
– Your circumstances may have changed.
– Your property may have risen in value (improving your loan-to-value metrics).
– You may need to borrow more (or less).

The outcome of this is that there may be a different set of lenders to consider this time round, which may be more suitable for you.

Or, perhaps, we establish that a Tracker deal (with no penalties) is a better solution, enabling you to monitor future Fixed rate deal offerings, and act down the line.

And, whatever we’d discuss, this doesn’t mean we kick into touch your existing lender, as they may still be the one to stick with, once we’ve gone through this process.

Consider locking in a deal

Also, as part of our service we’d be looking to discuss your future needs 4-6 months ahead of your current deal ending.

This may result in locking in a deal rate now, with the option of reviewing it as we go along, and maybe switching it to a better rate (on a comparable plan) from the chosen lender. A ‘win win’ scenario for you, but it’s something a lender is unlikely to flag, and that’s why borrowers turn to us, as we work on your behalf to save you time, stress, and, hopefully, money, interspersed with sound advice.

And don’t forget Protection cover…
Securing agreement to obtain the mortgage you require can often be the sole focus.

However, it’s as important to ensure that you have policies in place that will help protect (or replace) your income stream, should you fall ill, face an unexpected serious illness, or possibly die.

If any of these issues occur, then it’s quite likely that others (and yourself, if recovering) may be reliant on a lump sum payout, or ongoing income stream, to help meet day-to-day costs, and the mortgage payments.

Whatever your situation, we’d fully assess the suitability of the options on offer. And you can take comfort from the fact that we operate in this sector day-in day-out, plus have the qualifications and expertise to deliver advice that meets your needs.

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

(Source: UK Finance, Household Finance Review, Q4 2024, released March 2025)
(Source: UK Finance, June 2024 release)
(Source: UK Finance, December 2024)
(Source: Halifax, First-Time Buyer report, February 2025)
(Source: moneyfactscompare.co.uk, May 2025)