Once you\u2019ve signed on the dotted line for a fixed rate mortgage, it doesn\u2019t mean that\u2019s the end. Many people find that their personal circumstances change over time or they discover a better deal so they look into switching mortgage either during or after a fixed term.\r\n\r\nIt is possible to switch your mortgage during or after a fixed period ends, but there are considerations you need to be aware of, such as potentially hefty exit fees that you may incur.\r\n\r\nThis article covers key information you need to know on this subject, and you\u2019ll find the following topics covered in detail below...\r\n\r\nWe\u2019ll be covering the following topics:\r\n<ul>\r\n \t<li><a href="#change-during-fixed">Can you change a mortgage during the fixed rate period?<\/a><\/li>\r\n \t<li><a href="#fixed-payments-change">Do fixed rate mortgage payments change?<\/a><\/li>\r\n \t<li><a href="#after-fixed-term-ends">Can you change mortgage after the fixed term ends?<\/a><\/li>\r\n \t<li><a href="#change-provider-after-fixed">Changing mortgage provider after fixed term<\/a><\/li>\r\n \t<li><a href="#further-advice">Where can I get further advice on switching mortgage after a fixed term<\/a><\/li>\r\n<\/ul>\r\nCall us on 0808 189 2301 or make a quick <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-specialist-broker">online enquiry<\/a> and we\u2019ll connect you with one of the expert brokers we work with every day. All the brokers we work with have whole of market experience and will be able to help find you the right lender.\r\n\r\nIf you\u2019d like to know more about what\u2019s involved in changing your mortgage during or after a fixed term, we\u2019ve put together this useful article as a starting point\r\n\r\n[feefo-banner]\r\n<h2 id="change-during-fixed">Can you change a fixed-rate mortgage?<\/h2>\r\nIn short, yes, it is possible, but it\u2019s not a decision you should take lightly \u2013 consider the pros and cons and speak to an expert before you decide.\r\n\r\nThis applies whether you want to change your mortgage before the fixed-rate term comes to an end, and also after the fixed-rate ends and you\u2019re deciding whether to switch provider to pay off the remaining mortgage balance.\r\n\r\nTypically, if you change contracts in the middle of a fixed rate term, you\u2019ll be charged exit fees which could outweigh the benefits of switching in the first place.\r\n<h2 id="fixed-payments-change">Do fixed-rate mortgage payments change?<\/h2>\r\nDuring the length of your fixed-term contract, whether that\u2019s two years, five years or 10 years, the payments don\u2019t change. This is one of the reasons many people opt for a fixed-rate mortgage because the payments don\u2019t fluctuate even if interest rates do or your lender\u2019s criteria changes.\r\n\r\nIt\u2019s worth noting that if you decide to pay off more than you need to, for example with a lump sum in order to pay off the mortgage quicker, you may face an early repayment charge also known as an ERC.\r\n<h2 id="after-fixed-term-ends">Can you change mortgage after the fixed term ends?<\/h2>\r\nYes. Typically this is what people do to ensure they\u2019re always getting the best deal.\r\n\r\nAny number of changes could have happened since you began paying off your mortgage. As well as your own personal circumstances, things like an increase or decrease in your salary, interest rates and lender rates are also likely to have changed.\r\n\r\nSwitching mortgage can mean switching provider, which we\u2019ll look at next.\r\n<h2 id="change-provider-after-fixed">Changing mortgage provider after fixed term<\/h2>\r\nOnce a fixed term contract ends, it\u2019s advisable to look for a new deal this is because rates and offers could have changed since your contract began. The rate on your existing mortgage may increase after the fixed rate period.\r\n\r\nExperts recommend that you shop around for deals, possibly with a new provider.\r\n\r\nA mortgage broker can assist you with this. If you need help finding one, <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-specialist-broker">make an enquiry<\/a>, we can put you in touch with one of the experts we work with.\r\n\r\nChanging your mortgage after a fixed rate ends can be a time-consuming process not too dissimilar to when you took out the initial mortgage. Be prepared for this.\r\n\r\nYou\u2019ll need to apply, wait to be accepted, appoint a solicitor to carry out any legal work and you\u2019ll probably even need to get a new <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/mortgage-guide\/valuation-types-fees\/">property valuation<\/a> done.\r\n<h2 id="further-advice">Where can I get further advice on switching mortgage during or after a fixed term?<\/h2>\r\nAs mentioned at the beginning, it\u2019s advisable that you speak to an expert before you make a major financial decision like changing your mortgage or switching to a new mortgage provider.\r\n\r\nTo get help finding one, give us a call on 0808 189 2301 or <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-specialist-broker">make an enquiry<\/a>. The expert advisors we work with have whole of market experience and can find your next best-fixed rate deal or help you change your mortgage provider after a fixed period ends.\r\n\r\nThen sit back and let us do all the hard work. We don\u2019t charge a fee and there\u2019s absolutely no obligation or marks on your credit rating.