If anything is certain, it’s that 2026 will be the year of the remortgage. According to UK Finance, around 1.8 million fixed rate mortgages are set to expire later in the year, and many borrowers will be actively exploring their options.
But there is a challenge, and one that the market can’t overlook. Borrowers coming to the end of fixed deals are now navigating a higher-rate environment, together with continued household cost pressures which may make affordability checks tighter.
For brokers, this creates a valuable opportunity: not just to source competitive products, but to guide clients through more complex remortgaging decisions and help them choose the right path forward.
Higher rates are changing the remortgage conversation
For many borrowers who fixed their mortgage five years ago, rates were materially lower than they are today. As those deals expire, households are reassessing monthly costs and what they can realistically afford in the wider context of living.
That shift affects all homeowners approaching a refinance. Decisions that were once relatively straightforward - moving to a new fix at a similar rate - now involve trade offs between managing monthly costs today and planning for the years ahead.
Rather than asking “what rate can I get?”, many borrowers are asking more fundamental questions: should they fix for longer, change their borrowing structure, or absorb higher monthly costs? These are not questions that can be answered by headline rates alone.
Help to Buy is one example of a broader challenge
To understand the wider market, it is sometimes useful to put a particular product class under the microscope. The Help to Buy scheme, launched in 2013 and closing in 2023, supported more than 350,000 purchases by helping buyers bridge the gap between rising house prices and smaller deposits.
Many of those borrowers are now coming to the end of their initial mortgage deals - and facing a unique set of decisions.
The Help to Buy equity loan included a five year interest free period. Once that ends, fees begin and typically rise over time. Borrowers must decide whether to retain the loan and absorb those costs, or repay it through a remortgage - often at the same time as transitioning to a higher rate mortgage environment.
These conversations are inevitably more nuanced than a standard remortgage discussion, requiring careful consideration of total costs rather than simple product comparisons.
Across the market homeowners are grappling with similar layered decisions: managing higher monthly outgoings, assessing available equity and deciding if additional borrowing is sensible. Help to Buy simply makes the complexity more visible.
Affordability looks very different in 2026
The biggest change since many first time buyers entered the market is affordability. With average five-year fixed mortgages sitting above 5% - the highest since June 2025 - some homeowners could find the amount they can borrow is lower than expected when looking for a remortgage.
However, there are some clear positives to take away. Property values have risen in many areas since those homes were first purchased. That means some borrowers may have built up stronger equity, providing them with new options to access more competitive loan-to-value ratios and more competitive deals – giving them more flexibility than they might expect.
But having more options does not necessarily make the decision easier. Understanding how equity can be used - whether to reduce risk, restructure borrowing or consolidate additional loans - once again underlines the value of professional advice.
A moment for advice to shine
For brokers, the opportunity goes beyond sourcing the rate. Today’s borrowers need help with making informed decisions in a more complicated market – whether that means fixing for longer, releasing equity, repaying an additional loan or simply waiting for the right moment to act; every case is different.
In periods of higher rates and market volatility, timing and planning become just as important as price. Acting early can give borrowers time to explore their options properly, while enabling brokers to help clients make informed, considered decisions rather than reactive ones.
As the remortgage reset gathers pace, this wave is not just about refinancing - it is about helping borrowers navigate the most complex housing decisions many will have faced since buying their home. In doing so, brokers have a real opportunity to demonstrate the enduring value of advice in a changing market.
