When your mortgage deal expires, rather than diving straight into finding a new deal, take some time to review these seven key numbers first.
1. The number of years on your mortgage term
Start by looking at how many years you have left on your mortgage term. This will help you calculate how your repayments might change when taking out a new deal.
You don’t have to keep the current number of years left when you take out a new deal. You might choose to extend it, which would lower your repayments but mean you pay more interest overall, or shorten it to be mortgage-free sooner.
2. The outstanding mortgage balance
Next, check what the outstanding balance on your mortgage is. How much you want to borrow might affect which lenders are appropriate for you, as well as impact your repayments.
Again, you could adjust how much you borrow when taking out a new deal. If you have a lump sum, you might make a one-off repayment to reduce the debt. Alternatively, you may be able to borrow more through your mortgage.
3. The current value of your home
When was the last time you checked the value of your home? According to the Halifax House Price Index (8 April 2026), in the year to March 2026, the price of the average home increased by 0.8%.
If you’re not selling your property, you might think the current value of your home will have little impact. Yet, rising property prices increase your share of equity, which could help you secure a competitive deal as your loan-to-value (LTV) falls.
4. Your loan-to-value ratio
With your figures for your outstanding mortgage balance and the current value of your home, you can calculate your LTV.
The LTV is the percentage of the loan amount relative to the property value. If your home is worth £300,000 and the outstanding mortgage is £200,000, your LTV would be 66.6%, while your equity in the property is 33.3%.
Your LTV will fall if you make mortgage repayments or the value of your home increases. Usually, the most competitive mortgage deals with the lowest interest rates will go to homeowners with a lower LTV because they pose less risk to lenders.
5. The interest on your existing mortgage deal
To accurately compare new mortgage deals, you need to understand what you’re currently paying. Check the interest rate on your existing deal before you start looking at alternatives.
6. Your current lender’s standard variable rate
Usually, when your mortgage deal expires, you’ll be moved on to your lender’s standard variable rate (SVR). So, it’s worth checking how your repayments would change if you did nothing.
An SVR isn’t usually competitive, and you could reduce the interest you pay by taking out a new deal. It could provide a useful baseline when you’re looking at other options.
7. Your credit score
When you apply for a new mortgage, a lender may use your credit score and report to assess your application.
You can review your own credit report without harming your score. Doing so could highlight issues before a lender sees them, giving you the opportunity to potentially fix them. A strong credit score might mean your application is more likely to be accepted and you could be offered a lower interest rate as a result.
We could help you find your next mortgage deal
As mortgage advisers, we could help you understand what you need from your next mortgage deal and offer support throughout the application process. Please contact us to talk.
Please note: This article is for general information only and does not constitute advice. The information is aimed at individuals only.
All information is correct at the time of writing and is subject to change in the future.
Your home may be repossessed if you do not keep up repayments on a mortgage or other loans secured on it.
