The card game of pontoon is a standard trope of westerns and still played in casinos around the world. It allows players to stick with the cards in their hand, or twist, and gamble that the replacements they are dealt are better.
You can’t afford to gamble when it’s your mortgage. But you may not know whether to stick or twist when you come to the end of your fixed-term deal.
Stick with your current lender?
The easy answer is to stick with your current lender. But it might not be a suitable choice
The Bank of England has indicated that interest rates could fall further if economic conditions allow. Your current lender could be planning to drop their interest rates accordingly.
The problem is that sticking with your current lender when fixed rate deal expires, means you are likely to be transferred to their Standard Variable Rate, or SVR.
SVRs are typically far higher than other available rates. Some are currently more than 6.5% and even when the Bank cuts rates again, your lender might not pass on the saving straight away. They might keep their SVR high, relying on the tendency of their borrowers to stick rather than twist to boost their takings.
Twist, and remortgage?
The alternative is to twist – or rather remortgage to another deal, from a lender keen to have your business.
There are many lenders out there and finding a suitable deal for you might be very simple with a little help from us at Continuum. We can search the entire lending market to find the most appropriate deal for your particular circumstances.
Remortgaging can mean savings for another reason. If you have held your existing mortgage for a few years, the price of your home may have increased, and you may have paid off a chunk of your original borrowing. Both can reduce the proportion of your loan to the value of your home – known as the Loan to Value, or simply LTV. The lower your LTV, the lower the interest rates you are likely to be offered.
Some fixed rate deals are currently less than 4% for those with higher deposits or ample equity. But there are signs that these fixed rate deals have further to fall, and some people are holding on until they do.
The worry is that getting a new fixed rate deal now could mean missing out on even more competitive deals in a few months’ time, and locking yourself into years of paying more than you might have needed to. The Bank of England has indicated that further rate cuts are possible, but with the global outlook unsettled, it is uncertain when – or how large the next cut may be.
So, what should you do?
If you are tempted to stick with the lender you have and going on to their SVR rates for a month or two, you may be paying substantially more, particularly if you are coming to the end of a fixed rate deal, set up when rates were much lower.
If you’re worried that locking into a rate now would mean missing out on more suitable rates in the near future, remember that lenders can offer shorter-term fixed deals, of 12 to 18 months. It means striking a balance between saving now and not locking yourself out of future rate falls.
Ultimately, whether you should stick or twist depends on your personal circumstances, including your budget, risk appetite and how much certainty you want around your monthly payments.
Speaking to us at Continuum can help. We’ll be able to compare what your current lender is offering with the rest of the market, look at what you could expect to pay with all the choices and find the products that suit your needs.
Don’t know whether to stick or twist? Play your cards right and call us today.
Bank of England cuts interest rates to 4% – live updates – BBC News
Best mortgage rates & deals August 2025 – Which?
Variable and tracker mortgage rate cuts – Martin Lewis’ MSE
The information contained in this article is based on the opinion of Continuum and does not constitute financial advice or a recommendation to a particular mortgage product and you should seek independent financial advice before embarking on any course of action.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
