09/09/2026
If youāve ever struggled to understand what happens when your fixed rate ends, this will help.
1.8 million fixed rate mortgages are due to end this year alone, according to UK Finance, 2026.
Here is what actually happens if you do nothing.
You get moved automatically onto your lenderās standard variable rate.
Right now, that averages around 7.35%, compared to fixed deals sitting closer to 5%.
On a Ā£200,000 mortgage, that difference can add hundreds of pounds to your monthly payment.
Nobody rings you to warn you clearly when this is about to happen. It just happens.
The good news is you do not have to wait for the deadline. Most lenders let you lock in a new rate up to six months before your current deal ends.
If rates drop in that window, you can often still switch to something better before you complete.
Check your renewal letter today. When does yours actually end?
Drop a comment with your month and I will tell you when to start looking.
Joanne Maclachlan, Mortgage and Protection Adviser, Cornerstone Finance Group
[email protected] | 07368 604283
Your home may be repossessed if you do not keep up repayments on your mortgage.
