Remortgaging drove the UK mortgage market in the third quarter of 2026. In September alone, brokers ran around 861,000 residential remortgage searches, up 40% on August and 44% on a year earlier.
If your fixed rate ends in the next six months, you are part of one of the busiest refinancing periods in recent years.
Lenders are repricing quickly, products are being withdrawn at short notice, and the best deals do not always stay on the shelf for long. Starting early gives you options. Leaving it late can mean rolling onto your lender’s standard variable rate.
What the Q3 figures show
Every major data source points the same way: remortgaging rose sharply through the quarter, with September the strongest month.
| Measure | Change | Source |
| Residential remortgage searches, September | Around 861,000, up 40% on August and 44% year on year | Twenty7tec, via Mortgage Strategy |
| Buy-to-let remortgage searches, September | Up 34% on August | Twenty7tec, via Mortgage Strategy |
| Remortgage conveyancing instructions, Q3 vs Q2 | Up 19% | conveybuddy Q3 2026 |
| All-inclusive remortgage instructions, September vs August | Up 61% | conveybuddy Q3 2026 |
| Sale and purchase instructions, Q3 vs Q2 | Up 8% | conveybuddy Q3 2026 |
The purchase market grew too, so this is not simply homeowners staying put. But remortgaging grew more than twice as fast, and September brought conveybuddy close to the record levels it saw in March.
Why so many borrowers are remortgaging now
Two forces are behind the surge: a large wave of fixed rates ending, and a fresh round of lender repricing.
- Fixed rates ending. Around 1.8 million fixed-rate mortgages are due to mature in 2026, up from about 1.6 million in 2025. Many of these borrowers fixed when rates were far lower and face a noticeably higher payment.
- Product withdrawals and repricing. September saw another wave of lenders pulling and repricing deals. conveybuddy linked its September spike directly to this, much as it did in March when rising swap rates pushed up lender funding costs.
- Fear of missing out on a rate. When lenders give short notice before pulling products, brokers secure deals early to protect clients against further increases.
The practical point for borrowers is simple. A remortgage offer can usually be secured up to six months before your current deal ends, so you can lock in a rate now and still review the market before completion.
Landlords and buy-to-let
Landlords are refinancing at pace too: buy-to-let remortgage searches rose 34% between August and September.
For portfolio landlords, a remortgage is rarely just about the rate. Rental stress tests, the lender’s view of your portfolio, and whether you hold property personally or through a limited company all affect what you can borrow. A deal that looks cheapest on headline rate can fail the rental calculation, or carry a fee that wipes out the saving on a smaller loan.
If you have several properties coming off fixed rates over the next year, reviewing them together often gives better results than handling each one as it falls due.
If your circumstances are less straightforward
A busy remortgage market is harder for specialist borrowers, because the lender panel is smaller and good products can be withdrawn with little warning.
| Borrower type | What to watch for when remortgaging |
| Holiday let owners | Lenders assess on projected holiday income, and some have tightened criteria on restricted-use or seasonal properties. Your current lender may no longer offer a like-for-like product. |
| Expats and foreign-currency earners | Fewer lenders accept overseas income, and some have withdrawn from the market. Currency, country of residence and employer type all narrow the options. |
| Adverse credit | Missed payments, defaults or CCJs since your last mortgage can change which lenders will consider you. Timing matters, as older entries carry less weight. |
| HMO and multi-unit blocks (MUFB) | Licensing, room count and valuation method all affect the loan. Not every BTL lender will refinance these properties. |
| Joint Borrower Sole Proprietor (JBSP) | If a family member was added to help you qualify, your income may now be enough to remove them, or you may need to keep the arrangement in place. |
| Bridging exits | If you used a bridging loan to buy or refurbish, refinancing onto a term mortgage is often the planned exit and needs to be lined up well before the bridge ends. |
In these cases, a product transfer with your current lender may still be the right answer. But it should be a choice made after comparing the market, not a default.
Product transfer or remortgage?
A product transfer is quicker. A remortgage opens up the whole market. Which suits you depends on what has changed since you last borrowed.
| Product transfer | Remortgage | |
| Lender | Stay with your current lender | Move to a new lender |
| Affordability check | Usually none, unless borrowing more | Full assessment of income and credit |
| Valuation and legal work | Normally not needed | Needed, though many lenders offer free legals or cashback |
| Speed | Often days | Typically several weeks |
| Choice | Your lender’s range only | Whole of market |
| Raising extra funds | Limited, and subject to fresh checks | Possible, subject to criteria |
A product transfer often makes sense if your income or credit has worsened, or your property has become harder to lend on. A remortgage is usually worth exploring if you want to borrow more, change the term, or your lender’s retention rates are not competitive.
Read more: Product Transfer or Remortgage? Which Route Is Right for You
When to start and what to have ready
Start around six months before your current deal ends. That gives time to compare options, secure an offer, and still switch if rates fall before completion.
- Six months out: find your end date and any early repayment charge on your current mortgage. Speak to a broker.
- Five to four months out: gather documents and secure a rate, either a product transfer or a remortgage offer.
- Final three months: keep the rate under review, complete the legal work if moving lender, and confirm the switch date.
Useful documents to have ready:
- Your latest mortgage statement and redemption figure
- Three months of payslips, or two years of accounts or SA302s if self-employed
- Recent bank statements
- Photo ID and proof of address
- For landlords: tenancy agreements and a property schedule
- For holiday lets: booking history or a letting agent’s income projection
How Drake Mortgages can help
Drake Mortgages is a whole-of-market specialist broker, so we compare your current lender’s offer against the wider market, including lenders that only work through brokers.
We handle straightforward residential remortgages as well as the cases high-street lenders find harder: holiday lets, expat borrowers, adverse credit, HMOs, multi-unit blocks, JBSP arrangements, bridging exits and buy-to-let portfolios.
Where a case calls for a specialist second charge, we work with a specialist master broker on your behalf. If your deal ends in the next six months, call us on 020 8301 7930.
Sources
- Remortgage activity surges in Q3, Mortgage Strategy, 6 October 2026
- conveybuddy Q3 figures show remortgage activity surging, IFA Magazine, 6 October 2026
- Gross mortgage advances hit £77.4bn in Q2 2026, Mortgage Professional (fixed-rate maturities figure)
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