Remortgage Taunton 2026: Is Now the Right Time to Switch?
With the Bank of England base rate at 3.75% and lenders continuing to adjust their fixed-rate products, many homeowners in Taunton and Somerset are asking whether 2026 is the right year to remortgage. The answer depends on when your current deal ends, what rate you are currently paying, and what is available in the market right now.
When Should You Start the Remortgage Process?
Most mortgage advisors in Taunton recommend starting to explore remortgage options around four to six months before your current deal expires. Many lenders allow you to secure a new rate several months in advance, meaning you can lock in a competitive deal today even if your existing fix does not end until later in the year. This is known as a product transfer or early remortgage.
What Rates Are Available in Taunton in 2026?
Two-year fixed rates are available from around 4.1% and five-year fixed rates from around 4.3% for borrowers with a 25% deposit or more. Rates vary significantly depending on your loan-to-value ratio, credit history, and the lender. An independent mortgage advisor in Taunton with whole-of-market access will search hundreds of products to find the most competitive deal for your circumstances.
What If You Are on a Standard Variable Rate?
If your fixed rate deal has already ended and you have reverted to your lender's standard variable rate (SVR), you are almost certainly paying too much. SVRs in 2026 typically sit between 6.5% and 8.5%. Remortgaging to a new fixed rate could save a Taunton homeowner on a typical mortgage hundreds of pounds every month. Contact an independent advisor to calculate your potential savings today.