With summer holidays, warmer weather and the excitement of the World Cup, it's easy to put important financial tasks on hold. But if your current mortgage deal is due to end this year, delaying your mortgage review could end up costing you more than you realise.
Around 1.8 million mortgages are expected to reach the end of their current deal during 2026. That means many homeowners will soon need to decide whether to switch deals, remortgage or remain with their current lender.
If you're like many people, reviewing your mortgage isn't likely to be at the top of your summer to-do list. However, planning ahead can help you avoid unnecessary costs and make the process much less stressful.
It's easy to tell yourself you'll sort it out after your holiday or when life becomes a little quieter.
However, if your mortgage deal ends before you've arranged a new one, you'll usually move onto your lender's Standard Variable Rate (SVR). In many cases, an SVR is higher than the rate you were previously paying, which could increase your monthly mortgage repayments.
Reviewing your mortgage early gives you time to understand your options and make an informed decision before your current deal expires.
The good news is that you don't have to wait until your mortgage deal is about to end.
Many lenders allow you to secure a new mortgage deal six months before your current rate expires. Starting the process early gives you more time to compare your options, prepare any paperwork and avoid last-minute pressure.
Even if your mortgage doesn't end for another six months, an early review can help you understand what your future repayments may look like and give you confidence that everything is in place well before your deadline.
Whether you're considering a remortgage, switching to a new deal with your current lender or simply want to understand your options, our experienced advisors are here to help.
We'll guide you through the available mortgage products, explain the differences between them and help you find a solution that's appropriate for your circumstances.
If your current mortgage deal is due to end within the next six to twelve months, now is an ideal time to start the conversation.
Contact Oviso today to arrange a mortgage review and make sure you're ready before your current deal comes to an end.
To find out more about mortgages, personal insurance, business insurance and protection or to discuss the options available for your circumstances, contact our team of advisors
