This article was published on 15 September 2025. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us.

From June 2025 to 2028 Q2, roughly 3.6 million households are expected to re-finance onto higher rates. Some who fixed during the 2022–23 volatility may see payments fall, others coming off 2% and 3% deals could face higher monthly costs.

What you can do before your mortgage deal ends.

6–9 Months Before Your Deal Ends:

1. Lock in a rate early
   Many lenders let you secure a new rate up to 6 months ahead. If rates drop before your deal completes, you can switch to the lower one. This could give you protection and flexibility.
2. Improve your Loan-to-Value (LTV)
   Making small extra payments or adding savings can reduce your LTV. A lower LTV often means better mortgage rates.
3. Check your credit report
   Make sure your address is correct, it would be good to clear any small debts, and avoid taking out new loans or credit cards if possible.
4. Choose between Fixed or Tracker rates
   • Fixed Rate: Good if you want predictable payments.
     • 5-year fix = long-term stability
     • 2–3 year fix = short-term option if you think rates will drop
   • Tracker/Discount Rate: Offers flexibility (e.g., easier to overpay or repay early).
5. Be ready for rate changes and have a financial buffer.
6. Compare Product Transfer vs Remortgage
   • Product Transfer: Usually quicker to arrange and more straightforward, less paperwork.
   • Remortgage: Might get better rates or features (like offset or portability) but involves a full financial check.
7. Build a safety net
   Try to save 3–6 months of essential expenses. If that’s tough, you could set up a monthly transfer to build it gradually.
8. Think about protection
   Income protection or life/critical illness cover can help keep your finances stable if something unexpected happens, especially if your mortgage costs are going up.

When you apply:

• Get your documents ready
  Depending on the lender, you’ll typically need:
  • Last 3-6 payslips and P60 (or SA302s if self-employed)
  • ID and proof of address
  • Evidence of deposit or any overpayments
  • Bank statements: Showing regular outgoings like rent, loans, credit cards
  • Other commitments: Insurance, child maintenance, etc.

• Look beyond the rate
  Make sure you compare fees, early repayment charges and features like offset or overpayment options. Sometimes the best deal isn’t the lowest rate.

If you’re a Buy-to-Let landlord

• Expect lenders to keep using strict rent coverage checks.
• Review your portfolio and consider adding funds if needed.

If you’re buying a new build

• If you reserved off-plan, check how long your mortgage offer is valid (usually 3–6 months).
• Be ready to update paperwork if the build is delayed.

You can find more information on the Police Mutual Fee-Free Mortgage Advice Service, provided by Grange Mortgage & Protection Services Ltd here.

This article was published on 11 July 2025. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us.

Grange Mortgages have released their latest Residential Property review that reveals how the UK housing market showed renewed momentum in May 2025, with Rightmove reporting the busiest month for agreed property sales since March 2022.

After a rush to beat April’s Stamp Duty changes and a short-lived dip in buyer demand, activity bounced back strongly. Sales agreed rose 6% year-on-year across Great Britain, with Wales leading at +15% and London showing a modest +1% rise.

May 2025 also marked the most active May since 2021, pointing to growing confidence among buyers and sellers who are adjusting to a changing tax and borrowing environment. Rightmove data suggests that buyers are increasingly willing to proceed, despite higher costs—indicating that demand for homes remains resilient.

Meanwhile, in Prime Central London, average house prices fell by 2.2% year-on-year—the sharpest drop since August 2024—according to Knight Frank. The slowdown is being linked to changes in the non-dom tax regime and higher Stamp Duty on additional properties. In contrast, Prime Outer London has remained steadier, with prices rising 1.1%, driven more by domestic buyers.

In wider policy news, Chancellor Rachel Reeves has announced a £39bn investment in affordable and social housing over the next decade—described as the biggest cash injection in 50 years. Analysts at JLL believe this could help deliver up to 500,000 new homes.

Yopa also reports that properties near major UK music festivals come at a premium, with average prices around 41% higher than the national average. The LS22 postcode near Leeds Festival tops the list, with house prices 91% above the city average.

To read the full report and to find out the average price by region click here.

For information on Police Mutual and Grange Mortgages, visit our Mortgages page.

Correct as of 18 June 2025. Always seek personalised financial advice before making property decisions.