The surge in property transactions during the 2021 ‘race for space’, when completions peaked at more than 200,000 in June of that year, is now translating into a substantial remortgage opportunity.
Around 1.8 million fixed-rate mortgages, worth an estimated £77bn, were due to come up for review this year alone, as forecast by UK Finance — figures that highlight the unusually large volume of cases now coming through.
This remortgaging wave is expected to continue into 2027. But volume of demand alone doesn’t tell you how much of this market you will win. Success will depend on timing, communication, and the use of technology.
ACT EARLY OR LOSE OUT
Getting in front of customers earlier than ever is crucial. We know Rachel Reeves encouraged some of the larger lenders to contact borrowers ahead of their remortgage date. That means advisers cannot afford to wait for the traditional three-month window. By then, many customers will have already been approached directly by their lender and agreed to a product transfer.
With opportunities of this scale, the most effective advisers are reaching out well in advance, even six months or more before a deal ends. At this stage, regardless of what’s happening with rates, advisers can book reviews early to retain business. This early engagement positions the adviser, not the lender, as the primary relationship holder.
Their importance only grows when the country is in the grip of an inflation shock, as it is now. Many borrowers rolling off pandemic-era low fixed rates will be worried about their refinancing options and will welcome early engagement with someone familiar with their circumstances.
Borrowers have a problem, and advisers have the answer. They should be telling past customers why they’re contacting them earlier than usual and what’s in it for them.
MAKING TECHNOLOGY WORK HARDER
With so many cases coming up for review, trying to manage them all manually just isn’t realistic. Advisers who make good use of lead management functionality, reminders and automated communications are going to find it much easier to stay on top of things and keep in touch with customers. This is one of the hidden traits of the fastest-growing adviser firms in our network.
It means using tech to get organised, create a process, and communicate early. From there, it’s about keeping things ticking along with regular, scheduled contact in the run-up to review. Whether that’s emails going out under the firm’s branding or simple reminders to check in, the aim is to stay visible and make sure the relationship doesn’t slip away.
BEYOND THE RATE: DEEPEN THE RELATIONSHIP
The remortgage conversation shouldn’t be reduced to a simple product switch. For many households, several years have passed since their last mortgage deal. Circumstances will have changed, whether that’s a growing family, higher income, increased debts or new protection needs.
This creates a natural opportunity to reassess affordability and future plans, review protection cover, and strengthen long-term client relationships while becoming embedded as a trusted, lifelong adviser.
NAVIGATING RATE VOLATILITY
Today’s market conditions add another layer of complexity with ongoing tensions in the Middle East sparking sudden interest rate movements.
Rate volatility and the speed at which lenders react to swap rates remain key challenges for advisers. Products can be pulled at very short notice, sometimes within hours. We saw this after the mini-budget in 2022. It’s not uncommon for lenders to withdraw rates late in the day, leaving advisers racing to submit applications before deadlines. There is no perfect solution here, but what advisers can do is explain to customers that this can happen, and it’s in their interests to provide documentation as soon as they can.
THE IMPORTANCE OF ONGOING REVIEW
In the current market, there’s the potential for rates to fall after an application has been submitted. This creates both an opportunity and a challenge. Advisers should agree upfront with customers whether and how often they will review rates between approval and completion, and under what circumstances they would switch to a new deal.
WHAT SETS STRONG ADVISERS APART
Those who act early will be best placed to capture a significant share of remortgaging business this year. Engaging customers sooner, using technology to scale outreach, and communicating clearly in a fast-moving market will set them apart.
Succeeding here also requires a focus on delivering ongoing value beyond the initial transaction and being upfront about how service and rate monitoring will work. Above all, the most effective advisers will recognise that every remortgage is more than a transaction. It is an opportunity to reinforce trust, demonstrate expertise, and build long-term relationships.
In a market defined by uncertainty, that consistency of advice will prove to be a valuable asset.
