As the summer winds down and the back-to-school routine kicks back in, I urge the industry to turn its attention to something just as seasonal: retention.
Right now, brokers are sitting on some of the biggest retention opportunities we’ve seen in a while, and the question worth asking is simple. What are we actually doing about it?
A significant number of clients have mortgages coming up for renewal between now and Christmas. Layer on top of that the fact that, as we move into January and the first quarter of 2027, we’ll be dealing with the final wave of clients still sitting on some of the lowest fixed rates ever offered (deals struck when rates were at historic lows).
Bank of England analysis has already flagged that hundreds of thousands of these ultra-low fixed deals are maturing every year through to the end of 20271, and this next wave is arguably the group that needs the most support.
Rates have moved on regardless of what these clients locked in years ago, and there’s no getting around that. What we can control is how well prepared they are for it.
That means having these conversations early, not waiting until a renewal letter lands on the doormat. Advisers should be reaching out now, working through whether circumstances have changed, whether additional borrowing is worth exploring, and using the renewal as a genuine opportunity to review everything about that client’s situation, not just the rate.
Is their protection cover still right for them? Are they actually thinking about moving house rather than renewing where they are?
This is exactly the kind of proactive push our industry should be making right now. Clients want the hassle and stress of a looming product end date off their plate well before it arrives, not scrambling in the final weeks.
That’s true of anyone renewing before Christmas, and it’s especially true of those clients whose historically low rate is due to end in the first quarter of next year.
They’re the ones who’ll feel the change most, and they’re the ones who most need us in their corner now, not in January.
Rachel Geddes is strategic lender relationship director at Mortgage Advice Bureau
Sources:
1 Bank of England, 2026
