If you do nothing, your lender will usually move your mortgage onto their standard variable rate (SVR).
SVR is variable and set by the lender. This differs from lender to lender. This means your payments can change, and very often increase.
If you move to SVR you are no longer tied in to the mortgage and you can still switch products or move to another lender.
This does not usually affect your credit file provided payments are maintained.
Understanding your fixed rate end date early helps reduce last-minute pressure.
Check Your Deal End Date
Look in your mortgage offer, annual statement or lender app. If you would like help understanding your options, get in touch.
Talk to Rob