For advisors, remortgaging is an important opportunity to engage borrowers. UK Finance predicts that around 1.8 million mortgage deals are expected to expire this year, with significant refinancing activity expected in 2027.
This includes borrowers who will be new to the remortgage process and those who will be exiting from a mix of low and high fixed rate deals. In all cases, personalized advice can help borrowers understand the market and choose an option that reflects their individual needs.
Remortgaging is much more than just a product decision. It is one of the biggest financial commitments people will return to, often after their circumstances and priorities change. The conversation gives advisors an opportunity to evaluate mortgages alongside long-term financial protection and plans, helping clients build greater financial resilience.
Look beyond averages
Choosing the right mortgage isn’t just about finding the lowest rates. Advisors can evaluate how different product fees, incentives, early settlement fees and fixed rate periods impact overall costs and suitability.
They can also consider whether the product offers the flexibility the customer may need, such as the ability to overpay, move house, or adapt if circumstances change.
This advice is especially valuable when markets are unstable and products change quickly. By comparing mortgage options with affordability and future plans, advisors can help clients navigate the market with confidence.
Use the review to understand financial flexibility
The wider remortgage conversation is also an important opportunity to test a household’s resilience if circumstances change.
This means exploring whether existing savings, sick pay and protection can cover the mortgage and essential expenses after illness or injury. It also means considering whether the new mortgage deal still supports the borrower’s long-term goals, particularly where extending the term could carry housing costs into later life.
Borrowers are understandably juggling immediate financial requirements, but advisors can help them consider how protection can protect their ability to meet housing costs and continue progress toward longer-term goals.
Combining these considerations helps transform a remortgage review from a transaction to a broader assessment of affordability, flexibility and future priorities.
Protection conversation
A protection policy that was arranged several years ago may not provide the right level of support, as the client may have since been married, changed jobs, received a promotion or started a family.
Advisers can review whether current arrangements still reflect the mortgage balance and term, household income, dependents and other obligations. This helps identify where changes in a client’s life have created gaps or changed the level of support needed.
The advisor’s role therefore extends beyond arranging a mortgage or reviewing coverage separately. It involves explaining to clients how these decisions interact and support their broader financial goals.
The future of the case
The mortgage terms chosen today can shape a client’s long-term financial position. That’s why advisors play a vital role in considering mortgage and protection needs together, balancing short-term affordability and future flexibility to build their clients’ financial resilience.
The industry can’t predict exactly where mortgage rates will go next, but it can help advisors respond quickly and deliver the best possible outcomes for borrowers. Technology and product innovation can support this work, while advisors provide the judgment and reassurance clients need.
By backing high-quality professional advice and supporting the advisors who provide it, we can help borrowers navigate the market with confidence and enhance their long-term financial security.
Claire Beardmore is Director of the L&G Mortgage Club
