Mortgage guide
What happens when my fixed mortgage ends?
When a fixed-rate mortgage deal finishes, the mortgage itself does not end. Unless you arrange another deal, you will normally move onto the lender's reversion rate — often its Standard Variable Rate — and your monthly payment can change.
End of the fixed period
The mortgage continues, but the interest rate can change.
A fixed-rate mortgage gives you an agreed interest rate for a set deal period. When that period finishes, you still owe the remaining mortgage balance over the remaining term.
If no new deal has been arranged, the mortgage will normally move onto the rate specified in your mortgage terms.
It should explain when the fixed period ends and the rate that applies afterwards.
Reversion rate
You will often move onto the lender's Standard Variable Rate.
MoneyHelper explains that a lender's Standard Variable Rate — SVR — is normally the rate borrowers move onto after an introductory or fixed deal ends if they do not arrange another product.
Unlike your fixed rate, an SVR can change. If the new rate is higher than your existing fixed rate, your monthly mortgage payment can increase.
Find out the actual reversion rate and calculate the expected payment before the fixed deal expires.
Your options
You can usually consider staying with your lender or moving to another one.
Product transfer
Select a new mortgage product with your existing lender, subject to its available products and criteria.
Remortgage
Move the mortgage to a different lender, normally involving a new application, affordability assessment and legal process.
Reversion rate
You can remain on the lender's variable reversion rate, although it should be compared with the alternatives.
Repay or reduce borrowing
If you have available capital, you may consider reducing the mortgage, subject to the mortgage terms and your wider financial position.
When to review
Start before the fixed deal expires.
MoneyHelper recommends reviewing your mortgage in advance rather than waiting until the current deal has ended. Many borrowers begin looking several months before expiry.
Starting early gives time to compare your current lender with alternatives, deal with underwriting and legal work where required, and coordinate the start of the replacement deal.
You can investigate and potentially secure a future deal while still checking when your existing Early Repayment Charge ends.
Early Repayment Charges
Leaving before the fixed period ends can be expensive.
Many fixed mortgages have an Early Repayment Charge during some or all of the fixed period. Switching too soon can therefore trigger a cost that outweighs the benefit of the new mortgage.
The ERC end date may not always be identical to other dates you have in mind, so check the mortgage terms rather than assuming.
Making the decision
Compare the next deal on overall cost and suitability.
New monthly payment
What will you actually pay under each option?
Rate & deal period
How long is the rate fixed or discounted?
Fees
Include product, legal, valuation and advice costs where applicable.
ERC
What restrictions or charges apply if your plans change?
Mortgage term
Changing the term can alter both the monthly payment and total interest paid.
Future plans
Moving home, overpaying or changing borrowing can affect the type of deal that fits.
Fees, incentives, deal length and how long you expect to keep the mortgage all matter.
Mortgage review
Fixed mortgage approaching its end?
We can compare your existing lender's new deals with suitable remortgage options and show the effect of the rate, fees, early repayment charges and mortgage term.
Book a conversationThis guide is for general information only and is not personal mortgage or financial advice. Mortgage rates, product terms and lender criteria can change. Your home may be repossessed if you do not keep up repayments on your mortgage. Content checked against current FCA and MoneyHelper guidance on 16 September 2026.