Mortgages: What should I do if I’ve got six-to-12 months to go on a fixed-rate mortgage?

The proportion of people who own their own home or have a mortgage has been falling year-on-year since 2005 (Peter Macdiarmid/Getty Images)

Ray Boulger says: “Start getting advice on the fixed rate options when the period left on the current deal has fallen to seven months.”

David Hollingworth says: “This borrower will soon find that they will be ready to remortgage and should be thinking ahead so that they can make a smooth switch to a new rate. In the meantime they may also find that there are some expenses that they can seek to reduce such as paying off other debt commitments like credit card balances or personal loans. Reducing these outgoings will make it easier to meet the affordability requirements now in place.”

Mark Harris says: “New mortgage offers are generally valid for six months. If you have several months to go before your mortgage deal reverts to SVR you should shop around and reserve a product to complete on in six months' time. During that time you should ensure that all your personal paperwork is in order, such as payslips, P60s, SA302s, interest-only repayment strategies and so on.”