If your current mortgage deal is coming to an end, you may be facing a jump onto your lender’s standard variable rate (SVR). That’s worrying enough – but if your credit has taken a hit since you first took out the mortgage, you might be wondering whether remortgaging is even possible.
In this article, we’ll look at what happens when your deal ends, how bad credit can affect your options, and what you can do if your fixed rate is ending soon.
What Happens When Your Mortgage Deal Ends?
Most fixed-rate and discounted-rate mortgages last for a set period, often two, three or five years. When that period ends:
- Your existing special rate usually finishes
- You’re typically moved onto the lender’s standard variable rate (SVR)
The SVR is often higher and can change at the lender’s discretion. Many people look to remortgage – either with their current lender or a new one – to secure a new deal and manage their monthly payments.
How Does Bad Credit Affect Remortgaging?
If your credit has worsened since you took out your mortgage – for example due to:
- Missed payments
- Defaults or CCJs
- An IVA or other debt solution
…remortgaging can become more complex, but it isn’t necessarily impossible.
Lenders will look at:
- Your current loan-to-value (LTV) – how much you owe compared to your home’s value
- Any changes in your income and outgoings
- Your recent credit conduct
- How serious and how recent any adverse credit is
In some cases, your existing lender may still be prepared to offer you a new deal, even if a different lender wouldn’t. In others, a specialist lender might be more suitable.
Product Transfer vs Full Remortgage
There are generally two main routes when your deal ends:
- Product transfer with your current lender
- You stay with the same lender
- You switch to a new rate or product they offer
- The process can be simpler and sometimes doesn’t involve a full affordability assessment or valuation (though this varies by lender)
- Remortgage to a new lender
- You move your mortgage to a different provider
- This usually involves a full application, credit checks, and potentially legal work and valuation
If your credit has worsened, a product transfer can sometimes be more achievable than switching lenders – but it’s not always the best or only option. A mortgage adviser can compare what your current lender is offering against what’s available elsewhere.
What if My Rate Is Ending Soon?
If you know your rate is coming to an end in the next few months, don’t ignore it – especially if you have bad credit. Instead:
- Find out the exact date your deal ends
Check your documents or ask your lender so you know when you might move to the SVR. - Check what your lender is offering
Ask them about product transfer options and what your payments would be on each. - Review your credit reports
Understand what your file currently looks like so there are no surprises. - Talk to a mortgage adviser
An adviser can look at your existing lender’s options, as well as specialist lenders who may consider your case, and help you weigh up the pros and cons of different paths. - Don’t leave it to the last minute
Many lenders allow you to secure a new deal several months before your existing one ends. This can give you time to explore your options and potentially avoid moving onto a high SVR.
What If I Can’t Remortgage Right Now?
In some situations, remortgaging immediately may not be possible or sensible – for example, if very recent adverse credit makes lender choice extremely limited.
In that case, your adviser might talk through options such as:
- Staying with your current lender’s SVR in the short term
Not ideal if it’s much higher, but sometimes a temporary stepping stone while you repair your credit. - Taking a shorter-term deal, if available
This can give you some rate certainty while you work on improving your credit position and loan-to-value. - Planning ahead
You might agree a strategy to reduce unsecured debts, improve payment history and build your options for a future remortgage review.
Every situation is different. The key is to understand your choices clearly, and not to assume that bad credit means you’re stuck forever.
How Just Mortgages Can Help
At Just Mortgages, we understand how stressful it can be when your mortgage deal is ending – especially if you’ve had credit issues since you first bought your home.
Our Adverse Credit Solutions Team specialises in supporting clients who have experienced problems such as missed payments, defaults, CCJs, IVAs or even bankruptcy. We work with a wide range of specialist lenders and use comprehensive credit data to assess your situation and highlight realistic options.
Whether you’re:
- Exploring a product transfer
- Considering a full remortgage
- Or simply want a clear plan for the next 12–24 months
…our advisers are here to help you understand your choices and make informed decisions.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Just Mortgages is a trading name of Just Mortgages Direct Ltd which is an appointed representative of The Openwork Partnership, a trading style of Openwork Limited which is authorised and regulated by the Financial Conduct Authority.
Approved by The Openwork Partnership on 9/12/2025.