The painful bit about a fixed mortgage ending isn’t just losing a familiar interest rate. It’s opening the next payment notice and finding out what the change means in pounds each month.

If your deal ends in 2026, the Bank of England’s latest figures give a useful guide.

Average quoted two-year fixed rates were 4.92% for borrowers at 75% loan-to-value and 5.32% at 90% loan-to-value.

Those are market averages, not a promise of the rate you’ll be offered.

Here’s what that could look like.

These are repayment mortgage illustrations, calculated without fees or other charges:

• £150,000 left, with 15 years to run: about £965 a month at 2%, rising to about £1,178 at 4.92% or £1,209 at 5.32%.

• £200,000 left, with 20 years to run: about £1,012 a month at 2%, rising to about £1,309 at 4.92% or £1,357 at 5.32%.

• £250,000 left, with 25 years to run: about £1,059 a month at 2%, rising to about £1,451 at 4.92% or £1,508 at 5.32%.

So the same change in rate can add roughly £200 to £450 a month in these examples.

Your result could be very different: the balance, remaining term, loan-to-value, credit record and lender’s criteria all play a part.

The longer the remaining term, the lower the monthly payment may look but the more interest you could pay overall.

Norfolk’s housing numbers help explain why the property value is part of the calculation.

The official May 2026 House Price Index put the average price at £271,947 across Norfolk, £314,302 in South Norfolk and £262,525 in King’s Lynn and West Norfolk.

An average isn’t a valuation of your home, but a higher value can reduce your loan-to-value if your mortgage balance has fallen.

 That may open up different deals.

Start with four numbers: the date your fixed deal ends, your outstanding balance, your current rate and the remaining term.

 Check your paperwork for an early-repayment charge before switching early.

MoneyHelper also advises comparing arrangement fees, valuation, legal and administration costs, cashback and the full cost of the new deal not just the headline rate.

When the fix ends, the mortgage will normally move to your lender’s standard variable rate unless you arrange another deal.

That doesn’t mean you have to accept the first option. You can ask your existing lender for a new product, compare alternatives or get regulated advice.

The fair test is the total cost and the payment you can genuinely live with, not simply the lowest number in an advert.

If your fixed term ends this year, save those four figures now. Then you’ll have something solid to compare when the next deal is available.

Which part of Norfolk are you in, and has your lender already shown you what your next payment could be?