Switch smarter. Save thousands.

Start 6 months before your current fixed rate ends. UK lenders let you lock in a new rate up to 6 months in advance with no obligation — if rates fall further, you switch to the better deal; if they rise, you're protected. Leaving it late means rolling onto your lender's Standard Variable Rate, which is currently 7–8% on average.

On a £200,000 balance, dropping from a 6% Standard Variable Rate to a 4.04% 5-year fix saves roughly £3,920 per year, or £326 per month. Mortgage.ai's AI monitors 90+ UK lenders 24/7 and alerts you the moment switching becomes worthwhile against your specific deal — including all fees.

Typical costs are a product/arrangement fee (£0–£1,999), valuation fee (often free on remortgage), legal fees (often free with lender-paid conveyancing) and an exit fee from your old lender (£0–£300). Mortgage.ai's total-cost analysis always includes fees, not just headline rates.

Yes — equity release through remortgaging is common for home improvements, debt consolidation or raising a buy-to-let deposit. Lenders assess affordability on the new larger loan, and most will lend up to 85–90% of your property's current value, subject to income and credit checks.

Choose a 2-year fix if you expect rates to fall and want flexibility to switch sooner. Choose a 5-year fix for payment certainty — 58% of new UK applications in 2026 are 5-year fixes. The cheapest 5-year fixes are typically 0.10–0.20% lower than 2-year equivalents at 75% LTV.

An ERC is a penalty (typically 1–5% of the balance) for leaving your fix early. Avoid by either waiting until your fix ends, choosing a tracker with no ERCs, or using our 6-month early lock to time the switch perfectly. Elena will calculate whether paying an ERC still leaves you better off.