January is often the month where reality kicks back in. The decorations come down, the credit card statements land, and many of us start thinking about money a little more seriously.
If you’re a homeowner, January is actually one of the best times to review your mortgage. Interest rates have shifted over the last few months, family circumstances may have changed over Christmas, and there could be opportunities to save money or plan your next move.
Here’s why giving your mortgage a January MOT could be well worth your time.
1. Interest rates have changed – could you get a better deal?
Over the past few months, mortgage rates have moved around, and many lenders have adjusted their products. That means:
- You might now qualify for a lower rate than the one you’re currently on
- Fixed rates may be more competitive than they were when you last arranged your mortgage
- Tracker or variable rates may no longer be the best option for you
If you’re on your lender’s standard variable rate (SVR), there’s a strong chance you’re paying more than you need to. Even a small rate reduction can make a noticeable difference to your monthly payments over time.
A review doesn’t mean you have to change anything – it’s simply about checking whether your mortgage is still fit for purpose.
2. Christmas spending and credit cards – is debt eating into your budget?
Christmas is expensive. Presents, food, travel, socialising it all adds up. Many households end up leaning on credit cards or short-term borrowing to cover the cost.
If you’re now:
- Paying high interest on credit cards
- Juggling multiple monthly repayments
- Feeling your budget is tighter than it used to be
You may be able to consolidate some debts into your mortgage. This can:
- Reduce your overall monthly outgoings
- Simplify finances into one payment
- Replace high-interest debt with a lower rate (where appropriate)
Debt consolidation isn’t right for everyone, and it’s important to understand the long-term impact – but for some homeowners, it can significantly ease monthly pressure.
3. Has Christmas made you realise your home no longer works?
Spending extended time together over Christmas often brings clarity.
You might have realised:
- The house feels too small now the kids are older
- You need space for working from home
- Family gatherings highlighted the lack of room
- You’d love an extra bedroom, office, or bigger kitchen
This often leads to a big question in January:
Do we move… or do we extend?
A mortgage review can help you understand:
- Whether you could borrow more to move home
- If a remortgage could release funds for an extension or renovation
- What’s affordable now versus a few years ago
Having these conversations early in the year helps you plan properly rather than rushing into decisions later.
4. Your life may have changed – has your mortgage kept up?
Over time, lots can change:
- Income increases or decreases
- One partner becomes self-employed
- Children arrive or leave home
- Health or personal circumstances shift
If your mortgage hasn’t been reviewed in a few years, it may no longer reflect your current situation or future plans.
A good review looks at:
- Your current rate and deal end date
- Your future goals, not just today’s payment
- Whether your mortgage still supports your lifestyle
5. A review costs nothing – but could save you a lot
A January mortgage review is not about pressure or pushing products. It’s simply a chance to:
- See what options are available now
- Understand whether changes in the market benefit you
- Make informed decisions for the year ahead
Even if the outcome is “you’re best staying exactly where you are”, you’ll have peace of mind knowing you’ve checked.
Start the year with clarity
January is all about fresh starts, better habits, and feeling more in control. Reviewing your mortgage is one of the most practical financial check-ups you can do.
If you’d like to know whether you could save money, reduce monthly outgoings, or plan your next move, now is the perfect time to start the conversation.
Get in touch for a no-obligation mortgage review and see what 2026 could look like for you.