Remortgaging Early in 2026: Why Borrowers Are Acting Before Mortgage Rates Rise Further

Over the past week, something interesting has started happening in the UK mortgage market.

Mortgage advisers across the UK are reporting a noticeable rise in enquiries as homeowners look to secure fixed rates before further changes in the mortgage market.

Remortgage enquiries have increased as homeowners rush to secure rates before mortgage pricing potentially moves higher again.

This comes after average mortgage rates have climbed back above 5%, reversing the steady decline many borrowers were expecting earlier this year.

While markets move for many reasons, renewed inflation concerns driven by rising energy and oil prices are playing a role. As we explained in our earlier analysis on oil prices above $100 could mean for mortgage rates, higher energy costs can feed directly into inflation and influence interest rate expectations.

For borrowers approaching the end of their mortgage deal, the timing of decisions may now matter more than ever.

Mortgage Rates Have Started Moving Again

Mortgage pricing does not wait for official interest rate changes.

Lenders price their fixed deals based on expectations in financial markets, particularly the swap market, which reflects predictions about future interest rates.

When markets believe inflation may remain higher for longer, lenders adjust their pricing quickly.

That is why we have already seen average mortgage rates move back above 5% in recent weeks.

For homeowners with deals ending later this year, this shift has been enough to trigger a wave of early remortgage enquiries.

Why Many Borrowers Are Securing Rates Early

One of the most useful features in the UK mortgage market is the ability to secure a new rate in advance.

Many lenders allow borrowers to lock in a mortgage rate up to six months before their current deal expires.

This can be extremely valuable when the market becomes uncertain.

If rates rise further, borrowers who secured a deal earlier may already have protected themselves from the increase.

And if the market improves before completion, advisers can sometimes switch the application to a better deal depending on the lender’s policy.

Because of this flexibility, some borrowers prefer to secure a rate early simply as a form of protection.

But Not All Lenders Allow Six Months

While six months is common for remortgages with a new lender, product transfers with the same lender can sometimes open much later.

Some large lenders only allow three months before the existing mortgage deal ends.

For example, lenders such as Halifax often open their product transfer window closer to the expiry date.

This difference can make planning important, especially if market conditions are changing quickly.

Market Volatility Can Change the Rules

Mortgage advisers who worked through previous periods of market turbulence will recognise the pattern.

During the sharp rate movements following the Russian invasion of Ukraine, lenders struggled to keep up with rapidly changing pricing.

If a borrower secured a deal six months in advance, the lender had to honour it even if market rates moved significantly higher afterwards.

To manage that risk, some lenders shortened how far in advance borrowers could secure deals.

If inflation concerns return and markets become volatile again, lenders may take a similar approach.

That is another reason borrowers should review their mortgage options early rather than leaving things until the last minute.

The Energy Price Factor

Energy costs remain another important piece of the inflation puzzle.

The UK energy price cap is set to fall by around 7% in April 2026, providing short-term relief. However, markets are already looking ahead. With oil prices holding above $100, analysts fear a sharp U-turn in the July and October resets, which could push inflation pressures higher for longer.

Two-Year Fix or Five-Year Fix?

One of the most common questions borrowers face today is whether to choose a two-year fixed rate or a five-year fixed rate.

A five-year fix offers long-term certainty, protecting borrowers from further increases for a longer period.

However, it also means being locked into today’s rate for several years. If interest rates fall sooner than expected, borrowers may miss the opportunity to refinance at a lower rate.

A two-year fix, on the other hand, provides more flexibility. It allows borrowers to review the market sooner, although it may involve another remortgage sooner as well.

The right option depends on several factors including affordability, future plans and personal risk tolerance.

What About Tracker Mortgages?

Some borrowers still consider tracker mortgages when they believe interest rates may fall soon.

Trackers move directly with the base rate set by the Bank of England.

But that flexibility also means payments can rise immediately if the base rate increases.

During periods of economic uncertainty or rising inflation risk, many borrowers prefer the certainty of fixed rates instead.

My View as a Mortgage Adviser

Having worked in the mortgage industry for over a decade, I have seen how quickly market conditions can change.

When inflation concerns return, mortgage pricing can move faster than many borrowers expect.

Deals disappear. Rates increase. And borrowers who wait too long often find their options more limited.

That is why in uncertain markets my advice tends to be simple:

Plan early and understand your options.

If your mortgage deal ends within the next six months, it may be worth reviewing your remortgage options now rather than waiting until the final weeks.

Acting early does not mean rushing a decision. It simply gives you more control in a market that can move quickly.

TLDR

Mortgage rates have climbed back above 5% in the UK, prompting many homeowners to review their remortgage plans earlier than usual. Borrowers can often secure a mortgage rate up to six months before their current deal ends, which may help protect against future increases.

With the Bank of England’s next rate decision due this Thursday (19 March), many homeowners are choosing to lock in current deals as a hedge against potential market volatility.

Quick Answer: Should You Remortgage Early in 2026?

Many UK homeowners are choosing to review their mortgage options earlier in 2026 because fixed mortgage rates have recently moved back above 5%. Borrowers can often secure a new mortgage rate up to six months before their current deal ends, which may protect them if rates increase further. With inflation concerns linked to rising energy costs and oil prices, reviewing your remortgage options early could help provide more certainty over future monthly payments.

FAQs

Should I remortgage early?

Many lenders allow borrowers to secure a mortgage rate up to six months before their current deal ends. This can provide protection if mortgage rates increase before the new deal starts.

Why are mortgage rates rising again?

Mortgage rates are influenced by market expectations around inflation and interest rates. Rising energy and oil prices have recently increased concerns about inflation.

Can I change my deal if rates improve later?

Depending on the lender and stage of the application, it may be possible to switch to a better deal before completion.

Is a two-year fix better than a five-year fix?

It depends on your circumstances. A two-year fix offers flexibility while a five-year fix provides longer payment certainty.

Are tracker mortgages risky?

Tracker mortgages follow the Bank of England base rate. If interest rates rise, monthly payments increase immediately.

Compliance

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