The New Year is the perfect opportunity to take stock of your finances, and reviewing your mortgage could be one of the most effective ways to reduce your outgoings in 2026.
As your mortgage is likely to be your largest monthly commitment, even small changes can have a noticeable impact. Below are five practical mortgage resolutions to help you start the year on stronger financial footing.
Check your credit report
If you’re planning to apply for a mortgage or remortgage in 2026, it’s important to check your credit report for anything that could affect your chances of being accepted.
Lenders use your credit history to assess how you’ve managed borrowing in the past, so it’s vital to ensure the information held about you is accurate. Errors can occur, for example, if a lender has incorrectly recorded a missed payment, or if fraudulent activity has taken place in your name.
If you spot any mistakes, contact both the lender involved and the relevant credit reference agencies to have your report corrected as soon as possible.
Make overpayments to clear your mortgage faster
If you can afford to do so, making overpayments on your mortgage can significantly reduce the total interest you pay and help you become mortgage-free sooner.
If overpayments don’t currently feel achievable, review your wider household spending to see whether you could free up some extra cash. A simple starting point is to go through your bank statements and identify any subscriptions or memberships you no longer use, such as streaming services or gym memberships.
Most lenders allow annual overpayments of up to 10% of the outstanding balance without charge. However, limits and conditions vary, so always check your mortgage terms and conditions before making additional payments.
Get organised
If you’re planning to move home or remortgage in 2026, getting your paperwork in order early can help avoid unnecessary delays.
While requirements vary between lenders, you’ll typically need to provide:
- Proof of ID and address, such as a passport or driving licence and a recent utility bill
- Your latest three months' payslips
- Your latest three months’ bank statements (for the account your salary is paid into)
- Your most recent P60 (particularly if you receive bonus income)
- The last two or three years’ SA302s or signed accounts if you’re self-employed
You can learn more from our blog What do I need for my mortgage application?
Review your mortgage
Even if you aren’t moving in 2026, it’s still worth reviewing your mortgage to make sure you aren’t paying more than necessary.
Annual statements should be landing on doormats in the next few weeks, so check yours and see when your current deal is due to end. Our Mortgage Minder service can track this for you, alerting you when your deal is going to finish and keeping you informed about changes in mortgage rates.
Reassess Buy-to-Let borrowing
For landlords, keeping mortgage costs under control is more important than ever. Ongoing tax and regulatory changes have increased the cost of owning rental property, making it essential to review borrowing regularly.
Checking whether your Buy-to-Let mortgage remains competitive can help ensure your rental income isn’t being eroded by an uncompetitive rate.
