The 2026 Payment Shock Survival Guide Your Step-by-Step Plan to Navigate Mortgage Renewal with Confidence

A Note from Ifthikar Mohamed

Over the past few years, many homeowners benefited from historically low mortgage rates. As those deals end, we are entering what I call the “Mortgage Reset” — a period where payments may rise and planning becomes essential.

The good news is that with the right strategy, this transition can be managed calmly and confidently.

At WIS Mortgages, we combine mortgage advice with in-house accountancy expertise, allowing us to look beyond the interest rate and help you build a complete financial plan.

This guide is designed to help you prepare.

Why This Guide Matters

Across the UK, a large number of borrowers are coming off fixed rates secured during the pandemic era. Moving from rates around 1% to closer to today’s levels can significantly increase monthly costs.

Preparation removes uncertainty.

This toolkit will help you:

• Understand what’s changing
• Stress test your finances
• Identify practical solutions
• Avoid unnecessary costs
• Build a clear action plan

Step 1 — Know Your Mortgage Timeline

Check when your current deal ends.

Start planning at least 6 months before expiry.

Why early matters:

• You can secure rates in advance
• You avoid last-minute pressure
• You reduce the risk of reverting to higher rates

Step 2 — Estimate Your New Payment

Use our calculator:

Remortgage Savings Calculator

Run multiple scenarios to understand:

• Best case
• Expected case
• Conservative case

Clarity reduces anxiety.

Step 3 — Stress Test Your Finances

Simulate higher payments before they happen.

Resilience Formula

Example:

Current payment: £1,000

Future estimate: £1,500

Stress test: £500 per month

Set this amount aside temporarily to understand the impact.

Stress Test Worksheet

• Current monthly payment: ______
• Estimated new payment: ______
• Difference to test: ______
• Months tested: ______
• Observations: __________________
• Adjustments needed: ___________

Step 4 — Review Your Mortgage Strategy Options

Product Transfer

Remain with your lender for simplicity and speed.

Remortgage

Explore wider market options for potentially better terms.

Extend Term

Reduce monthly payments by spreading costs over longer period.

Part Interest-Only

Blend affordability with long-term repayment.

Offset Mortgage

Use savings to reduce interest charged.

Variable Strategy

Maintain flexibility if comfortable with rate movements.

Step 5 — The WIS Dual Advantage

Mortgage Advice + Accountancy Insight

Most brokers focus solely on securing a deal. Because WIS has accountants in-house, we can review:

• Your income structure
• P60s or SA302s
• Dividends and director remuneration
• Household spending patterns
• Tax efficiency

Often we uncover “hidden affordability” — improving your financial position and options.

Step 6 — Cost Reset Checklist

Small adjustments can make a big difference.

• Streaming subscriptions
• Insurance policies
• Utility tariffs
• Delivery app usage
• Gym memberships
• Lifestyle spending
• Mobile and broadband contracts
• Duplicate services

Behavioural insight: Many households increased spending during low-rate years without noticing. Rebalancing now creates breathing space.

Step 7 — Emotional Preparation

Payment increases can feel uncomfortable.

Remember:

• Interest rates move in cycles
• Planning restores control
• You have options

Confidence comes from preparation.

The Golden Nugget

Lender Conversation Script

When speaking to your lender, say:

1. “Can you confirm your retention rates compared to market rates?”
2. “What options do I have if I secure a deal early?”
3. “Are there any incentives or fees I should consider?”

This helps ensure transparency.

The 6-Month Rate Lock Timeline

1. Month 6 — Review mortgage and finances
2. Month 5 — Gather documentation
3. Month 4 — Speak to WIS adviser
4. Month 3 — Compare options
5. Month 2 — Secure new rate
6. Month 1 — Confirm arrangements

Planning early avoids unnecessary pressure.

Mortgage Reset Scorecard

How Prepared Are You?

Answer yes or no:

• I know when my deal ends
• I understand my future payment
• I have stress tested my budget
• I reviewed my spending
• I explored options
• I spoke to an adviser
• I have a plan

Score:

• 6–7 yes = Well prepared
• 3–5 yes = Needs review
• 0–2 yes = Take action now

Warning — Avoid the SVR Trap

If no action is taken, your mortgage may revert to your lender’s Standard Variable Rate, which is typically higher.
Planning protects you.

If You’re Feeling Financial Pressure

Speak to your lender or adviser early.

Possible temporary options may include:

• Short-term payment adjustments
• Interest-only periods

These are usually short-term solutions — proactive planning is always better.

Your Action Plan

• Check expiry date
• Use calculator
• Stress test
• Review spending
• Compare options
• Speak to adviser
• Lock rate early

How WIS Mortgages Supports You

We help clients:

• Compare lenders
• Structure repayments
• Optimise income
• Review affordability
• Reduce financial pressure
• Plan long term

Our approach is calm, practical and personalised.

Book Your Rate Lock Strategy Call

If your mortgage ends within the next 12 months, now is the time to prepare.

Speak to a WIS adviser and build your plan.

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

About WIS Mortgages:

WIS Mortgages combines mortgage expertise with financial insight, helping clients navigate changing conditions with clarity and confidence.

FCA Warnings:

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