Case Study – What Should I Think About Before My Current Mortgage Deal Ends?

If your current mortgage deal is due to end soon, it’s important to plan ahead. 

Waiting until the last minute could mean rolling onto your lender’s Standard Variable Rate (SVR), which is often significantly higher than your current deal.

For one client, the challenge was even more complex: she wanted to move home, was exploring whether to sell or rent out her current property, and her fixed deal was due to expire in February.

Here’s what to consider when your own mortgage deal is coming to an end.

1. Decide on Your Next Move

Before your mortgage ends, you need clarity on your housing plans. Are you:

• Staying in your current home?
  
• Selling and buying somewhere new?
  
• Renting out your property and purchasing another?
  

In this case, the client’s area wasn’t ideal, her daughter had just started school, and she was reluctant to invest more in the current home. 

She was considering either selling the property or switching to a buy to let mortgage and keeping it as a rental. Getting valuations for both sale and rental potential gave her a clear picture of the options.

2. Understand the Options With Your Current Lender

If you plan to move, you may be able to port your mortgage—transferring your current deal to the new property. This could help avoid early repayment charges.

If you’re not ready to move yet, many lenders also offer no-penalty tracker products. 

Switching to one of these can help you avoid the SVR while keeping flexibility until your plans are finalised.

The right approach depends on your timing—whether you’re moving quickly or need to keep things open for a few more months. This is where getting the right advice is essential.

3. Explore Letting Options if Renting Out Your Property

If you’re considering letting your current home, there are two main routes:

• Consent to let – short-term permission from your current lender to rent out your property. You can’t release equity with this option.
  
• Buy to let mortgage – the correct product for a long-term let or “let to buy” arrangement. Affordability is based on rental income, not your salary, and this route does allow you to release equity.
  

In this example, a buy to let remortgage would allow around £70,000 in equity release, which could contribute toward the deposit for a new home.

4. Consider the Tax Position

If you’re in the higher-rate tax bracket, rental profits are taxed at 40% when a property is held in your personal name. An alternative is to use a limited company structure, where profits retained in the business are taxed at 19% (up to £50,000).

The trade-off is that a limited company buy to let mortgages typically come with slightly higher interest rates and accountancy costs. For some, this is a worthwhile long-term investment strategy; for others, personal ownership is simpler.

5. Review Affordability for the Next Purchase

Your current mortgage deal ending is also a good time to check affordability for your next move.

• Selling the current property could free up around £130,000 in equity, making a £450,000 new purchase comfortably affordable for this client.
  
• Keeping the current property as a rental would reduce borrowing capacity, meaning the new home budget might need to come down to around £400,000.

This is why it’s vital to run the numbers before committing to a path.

Final Thoughts

When your mortgage deal is ending, the decision isn’t just about finding another fixed rate. 

It’s about aligning your mortgage strategy with your next steps—whether that’s selling, buying, or renting out your home.

Key things to consider include:

• Your housing plans (stay, sell, or rent).
  
• Whether to port your mortgage or switch to a tracker.
  
• The benefits and limitations of consent to let vs buy to let.
  
• Tax implications of renting in your own name vs through a company.
  
• Affordability for your onward purchase.
  

Taking advice before your deal ends ensures you avoid unnecessary costs, make use of your equity in the best way, and move forward with confidence.

Important Information

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

Some forms of Buy to Let mortgages are not regulated by the Financial Conduct Authority.

There may be a fee for mortgage advice. The precise amount will depend upon your circumstances.

Symmonds de Lacey is a trading style of Easy Street Financial Services Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales. Company number 6430453. Registered address: Basepoint, 377-399 London Road, Camberley, Surrey, GU15 3HL.

We are not tax advisers. For tax advice, please speak to your accountant or a qualified tax adviser.

Information correct at time of writing – November 2025.